Then (2001) vs. Now (2008)

Discussion in 'Economics' started by Port1385, Sep 25, 2008.

  1. I remember 2001 as a sad year. There were people out of work and some stories about tech workers who were out of work for a year. The SnP continued to fall as if it were the 1929 stock crash in slowmo.

    2001 wasnt pretty, however, 2008 seems to be downright UGLY. During 2001, I did not see people lose their homes, lose their jobs, large companies crash, or any of whats going on today.

  2. That's not altogether true. Remember the large fallout from the tech bubble? Not to mention all the day trading shops across america. a great many of people lost everything. Also, 9/11 knocked out a large number of people on wall street to. I was a broker back then and you couldnt trade like you normally could because of strict market rules. you could not short cotton for example. the markets traded abbreviated short schedules.
    some brokerage firms went out of business. I lost my entire book. people were laid off and needed to close out their accounts to live on.

    A great book to read is: FIASCO

    that will explain to you exactly whats really going on.
    history always repeats itself.