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grim (lemmy.nz)
submitted 1 year ago by nzmaa@lemy.lol to c/4chan@lemmy.world
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[-] IrateAnteater@sh.itjust.works 40 points 1 year ago

I feel like 9/11 was the inflection point. The great recession was just another symptom of the problem. Banks can't get overwhelmed by underwater mortgages if people aren't underwater in the first place.

[-] atomicbocks@sh.itjust.works 27 points 1 year ago
[-] kruhmaster@sh.itjust.works 13 points 1 year ago

Going by the presented graphs, something happened in 1960.

[-] gdog05@lemmy.world 12 points 1 year ago

I don't know the root cause but that's about when the events of Confessions of an Economic Hitman started.

[-] conditional_soup@lemm.ee 6 points 1 year ago

You could be right about that. I was going to say that they caused the problem with subprime lending, but I think that subprime lending would probably never have been attractive enough to not laugh the guy out of the room what proposed it if most people weren't already in a bad financial position with low economic mobility.

this post was submitted on 13 Jun 2025
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