How did people forget about the 2008 finacial crisis so quickly? How did people forget how fucked the world got...

How did people forget about the 2008 finacial crisis so quickly? How did people forget how fucked the world got, how criminal everyone was, and how they got away with it?
How was nothing done anything, how are we plunging ourselves deeper into the abyss so blindly. Please explain.

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I wonder the same often user, it´s almost like it never happened, so good was the clean-up. Just hush while watching the "Big Short" while dubsman drums afar in your nightmares.

Because our popular culture has mastered the art of distraction, because people are conditioned under neoliberalism to view all their struggles as personal failures that they must address in a individualized capacity, and a massive propaganda effort regarding obscuring the causes of the crash itself.

This plus people were able to shift all the blame on Bush who was an outgoing president but even then it seems everyone has managed to forget the blame they laid onto him

I guess it was just a different kind of crash unlike the one on 29 because unemployement didnt´t even get close to 20%. in the US. But a shock like that carries forward for at least 50 years.

People employed by the government via emergency relief and long-term discouraged workers were included in the gov estimates of unemployment in the Great Depression. I would not be surprised if the rate of unemployment between the two crises was similar. The upside of 2008 was that there was something of a welfare state existing whereas in 1929 it still needed to be built…

Obama was coming into office and he was supposed to wipe away the chaos and failure (though not the blood) of the Bush years. He used his popularity as a "progressive" to mask overtly reactionary policies that amounted to a coup by Wall St. He was very popular for a brief moment while people projected all the changes they know are necessary onto him, even though he had no intention of carrying any of them out.

True some of the welfare net still stood up for the crash. But was the unemployment measure just about the same then, including discouraged workers?

Police abuse innocent people, rich kids rape and kill, corporations lie and pollute… and nothing happens. How is being a socdem not the default position?

It appears to have been more rigorous than the measures used today:

"Both part-time workers wanting full-time work and discouraged workers tend to make the unemployment rate lower than it would otherwise be," says Robert Schenk, professor of economics at St. Joseph's College, Indiana.
Also, due to the market fetishism of the time everyone who got a job thanks to the various job corps were considered “unemployed” if the government had done the same thing today they would not have reported the numbers that way.

I think the unemployment figures are largely better than 2008 and maybe people have forgotten about it because we have either reached or are reaching recovery. That being said, Long-standing black unemployment has been a part of American political economy since at least the 80s in good times and in bad.

The system bowed, but it did not break.
Nowhere near enough people were negatively affected on a scale large enough to make ripping down the system and trying something different look attractive.

That's why nothing has happened on any truly large scale since the end of WW2.
Too many people have too much to lose, and there's no solid, visible guarantee that whatever replaces the current system will be better for them in either the short term or long term.
People are driven by their materiel conditions and their best interests, and unless you can absolutely deliver better than what most people already have you'll never get the support of the masses.
You can promise them the moon, but if you can't deliver it, or even close to it, they'll turn on you and toss you aside for someone who can convince them that they and not you are worth believing.

Obama happened

it should also be interesting looking about the kinds of jobs lost back in 1929 against 2008. The bulk in 29 would seem to me agrarian and industrial jobs while mostly 2008 lost jobs in the service or financial sector because most industrial jobs had already been displaced.

If I was the type to believe in Illuminati conspiracies 2008 would have had me convinced. The widely loathed lame duck president signs the bailouts into law. He leaves office and it all gets lumped into one term, "Bailouts", and slides off the shiny suit of the black stage actor president.

The crash of 1929 had the difference the first Soviet 5 year plan was kicking off. The USSR rapid industrialization meant not only did they have full employment but where looking for foreign skilled workers. Also in 1929 people still remembered the full employment of the war economies of the Great War where women were thrown into industrial jobs just to deal with the shortage of workers.

I… what?

The US actually lost more manufacturing jobs during the 2008 crisis than it did during the Great

Although I think you are right on when you speculate about farm jobs in the Depression era vs. service-era jobs post-2008 as being major losers in each particular crisis.

because all that happens under socdem, and some would say because of it


well indeed it seems as much manufacturing jobs were lost in comparison but making an adjustment of course the US doesn´t depend on industry as much as it did back then, or those jobs have just been automated. It´s the service sector I think take the mayor hit morally


Do you think a big infraestructure plan would boost the US economy as much as it did back then? Liberals talk about it a lot but I´m not sure that would be their best choice now given the amount of debt they carry

90% of people are spooked neolibs who think socdems are communist and are crazy, but with how much those very people are trampled on I mean only to say that I don't understand how they don't see socdem policies as the absolute minimum.

The service sector has always been, by design, a low-wage, low benefit and high stress sector. I mean when have American retailers and restraunts ever paid wages that were or even competitive with manufacturing?

Seriously, I complain about how shit it is sometimes and people say “Well, it’s not supposed to allow people to make a living it for teenagers and housewives” meanwhile a lot of people where I work do it for their livelihood, to pay the rent, and not for pocket money to buy the cool new video games or whatever.

The immediate managers and team leads are probably paid worse than the typical factory worker in terms of benefits and hourly pay. And that’s just how it is according to the liberal apologists who have risen up to defend retail against Trump’s fake claims of helping American industry.

The American manufacturing sector is still large and other productive work such as fast-food and construction/repair are often excluded from the calculation.

You should check out Williams work on productive and unproductive labor, essentially there is a large degree of productive activity today that is misinterpreted or misclassified as unproductive labor.

Nope, there is not enough capital going to maintain current US infrastructure because US capitalists have no interest in investing in US industry. You could build the most modern transport network in the USA and it wouldn't case US capitalists to spend one more dime with the borders of the USA then if just continued to ignore infrastructure.

I understand and you are rightly mad because service sector mostly means "let the consumer pay in addition"; so fulfilling the worker´s payment after the surplus has been stolen has been transfered again from the owners to the consumers in the way of a tip. Then becoming almost charity as long we lick the boot and beg for more

Still capitalist but those countries where there´s no need to tip have a bit of more economic justice

which people? in many places its the socdem gov doing the trampling

real unemployment in the US is still in the low 20ish% range

Yeah but compared to 1929 it was lower, even lower than Spain or Ireland at the time and you can see it also on the social backlash

No because the capitalists want to basically privatize all infrastructure instead of just "investing" in it.

Surely you don't think that, even as bad as socdems are, a real one has held power in the last 40 years of neoliberal order?
that hasn't been assassinated

sorry I mixed those too, I meant unemployment in 1929 in the US compared to 2008 was quite lower; and the US compared to countries like Spain or Ireland back in 2008 was also low, Greece of course surpassed that

There was an interesting situation in the UK in the 1960s where we had the selective employment tax which taxed service workers (before pay, via their employers) to give tax rebates to manufacturing companies. That said the idea there was to boost exports, not rebalance high wages in the service sector.

It is indeed an idea some countries would try when they have a trade deficit, but it just seems self defeating against a sliding currency; could work with the a strong pound sometimes though but it´s just speculating

How did that work out?

People do not want to face reality. They're scared to take on more powerful than themselves. They'd rather convince themselves everything's ok and it's just some bad apples. It's a cliché but it's still true.

Its wild, my dad genuinely believes that economic growth will continue to just go up-up-up.I flat out said to him, "what are you an idiot? How long have you been on this Earth now? 50 years? How many economic crashes have you seen? There is a crash every fucking decade!"

That sounds really familiar.

This. It’s ideology in the classic sense. If something goes wrong then it’s your fault, and the systemic structures of our society are beyond question.

Does this seem like a bad thing to anyone else??? Because this is supposed to be a pretty good indicator of bad things to come, right?

Euro getting stronger against the US dollar is supposed to be a pretty good indicator of bad things to come? How?

We create markets, markets don't create us.

The world is still fucked. The crisis has only been resolved for the top 5%.