Was just watching the big short. Why do the times suddenly feel similar?

Silberman

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Quote from: beerlover on September 19, 2023, 07:09:05 AM

Quote from: so98nn on September 18, 2023, 09:36:39 AM

I hope you guys are on track now and doing better. The economic crash hits the normal peeps like me and you all the time. Our financial management starts breaking apart when we see prices soaring for daily mandatory things like food, electricity, gasoline, and a few others but not limited to them.

Some might say this is just a needle in a haystack but I say things start worsening at this point itself. Our interest rates are also revised during such high tension thus it becomes complicated whether to feed the family first or pay the EMI on time. If someone is from a developing country then they will know what are the consequences of living with missed EMIs, high price tags on regular vegetables, and much more.

So I feel you mate. It can only be recovered with great attention to savings that can make us survive during high times like these.

The issue is that someone who has 50 million dollars do not have to care about the regular life spending, they do not think about buying food, they can eat whatever they want, buy any sofa they want, whenever their car breaks down they do not have to worry about the service, they just live normally without worrying about money, and they can invest easier.

People like you and me and him, we care about those things, because one bad thing and we are done, and two in a row? That almost means bankruptcy unless we get some help, I lived that recently, my wife needed operation and then our car broke down, both of them together meant financial debt that I would have to pay for 2 years, but thankfully my boss helped me out, otherwise I would have been in debt for 2 years.

While it is true the rich have an easier time than us, it is not as if they cannot be destroyed by a black swan, after all a great deal of their wealth is on their companies or other paper assets, and in the case of an economic crisis a great deal of their wealth just disappears, and if they were heavily indebted then this can easily cause them to lose everything they had in a short amount of time, something that we saw happening a lot during the last major crisis we went through.

KiaKia

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I lived through a bear market before and I know how challenging it can get, but my experience isn't like someone who is new to crypto space anymore, now I am fully prepared for whatever happens, I believe that surviving in the bear market is where many people will fail and many have failed in the past too, it's better to be prepared for gbs hard times if you want to successfully see a new bull market.

Right now I am still waiting for the final flush out and it could be the most brutal so far, but still this doesn't stop me from using my DCA strategy now and then, because I am human not a god, there is no way I can read the future.

There is still few months left before the halving and even after the halving the bull market won't start instantly, think about how you will survive for that long, make plans on buying foods and save some money aside or else your crypto assets won't see the next bull market sitting their asses in your wallet.

beerlover

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Quote from: so98nn on September 18, 2023, 09:36:39 AM

I hope you guys are on track now and doing better. The economic crash hits the normal peeps like me and you all the time. Our financial management starts breaking apart when we see prices soaring for daily mandatory things like food, electricity, gasoline, and a few others but not limited to them.

Some might say this is just a needle in a haystack but I say things start worsening at this point itself. Our interest rates are also revised during such high tension thus it becomes complicated whether to feed the family first or pay the EMI on time. If someone is from a developing country then they will know what are the consequences of living with missed EMIs, high price tags on regular vegetables, and much more.

So I feel you mate. It can only be recovered with great attention to savings that can make us survive during high times like these.

The issue is that someone who has 50 million dollars do not have to care about the regular life spending, they do not think about buying food, they can eat whatever they want, buy any sofa they want, whenever their car breaks down they do not have to worry about the service, they just live normally without worrying about money, and they can invest easier.

People like you and me and him, we care about those things, because one bad thing and we are done, and two in a row? That almost means bankruptcy unless we get some help, I lived that recently, my wife needed operation and then our car broke down, both of them together meant financial debt that I would have to pay for 2 years, but thankfully my boss helped me out, otherwise I would have been in debt for 2 years.

so98nn

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Quote from: tread93 on September 13, 2023, 10:04:49 PM

Just watching that movie gave me such chills, my family and I lost our house we lost everything in 2008 when the housing market crashed. Honestly after living through it in the worst way you can see how I would be such an advocate for bitcoin. Many other folks didn't have to go though that, and so they don't quite understand. I couldn't hell but think how strangely similar the feeling back then how it almost feels like the same type of conditions for things to happen. I said it the other day whilst playing golf to my m8 that something big was brewing, I could just feel it. Could we be on the verge of some crazy market crashes like in 2008?

I hope you guys are on track now and doing better. The economic crash hits the normal peeps like me and you all the time. Our financial management starts breaking apart when we see prices soaring for daily mandatory things like food, electricity, gasoline, and a few others but not limited to them.

Some might say this is just a needle in a haystack but I say things start worsening at this point itself. Our interest rates are also revised during such high tension thus it becomes complicated whether to feed the family first or pay the EMI on time. If someone is from a developing country then they will know what are the consequences of living with missed EMIs, high price tags on regular vegetables, and much more.

So I feel you mate. It can only be recovered with great attention to savings that can make us survive during high times like these.

Yamane_Keto

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Quote from: tread93 on September 13, 2023, 10:04:49 PM

Could we be on the verge of some crazy market crashes like in 2008?

The good thing about the economy is that we benefit from the past. It is true that we repeat the same mistakes, but the development of the economy and the return from the disaster is rapid and faster than what happened in 2008. Therefore, even if a disaster occurs, know to ignore all your investments (no matter their losses) and to wait an average of four years and things will return to normal. Trying to reduce losses by short selling or selling assets, regardless of the losses, is a mistake, and in all cases it is better to diversify your investment portfolio as long as you believe that the economy is in trouble or that something bad will happen.

Jatiluhung

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I read a news story in March this year. And the content of the news is about a tweet from Robert Kiyosaki which says about the world economy being on the verge of collapse and he suggests people buy some kind of silver coin as a preparatory step. When I read the news, I immediately looked for more information. But to be honest, there is lots of other news that is almost similar. And I actually feel that the news media is starting to scare readers. So I decided not to read too much news at that time. And I would rather push myself to focus more on work and earn more money to make preparations for myself and my family.

Estimating the future sometimes only makes us panic. And it would be better to focus on work now and make more money. it's better to be prepared than just busy reading future predictions. Because an economic crisis could happen without us expecting it, like what happened when the Corona pandemic came suddenly. We don't know what will happen tomorrow. So don't worry about it. What we have to think about is the life we are living right now. While making more thorough preparations calmly.

Sourch: https://internasional.kontan.co.id/news/robert-kiyosaki-ekonomi-dunia-di-ambang-kehancuran-beli-perak-sekarang?page=all

Latviand

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I'm not that updated on what's happening on the housing market on the US but iirc in the movie, the cause of the collapse was because companies are accepting mortgages no matter how bad the credit is of the person that wants to buy the house because the real estate sellers gets the cash quickly so they just accept everyone with background checks. So I don't know how it can be the same because last time, I think the land price in the US is just going higher which is kind of the opposite in the movie.

BitcoinTurk

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Quote

Could we be on the verge of some crazy market crashes like in 2008?

History always repeats itself and although it isn't exactly the same. All these scenes that repeat each other cause similar scenes to occur. The economic crisis experienced all over the world in 2008 caused many individuals to fall under a serious debt burden, businesses to stop their activities and the economic balance to deteriorate. Considering the economic conditions we're in today I think we're in a much worse economic crisis and the consequences will be worse.

Although today's economic conditions seem to be better compared to the 2008 crisis. When many data are examined in detail it will not be difficult to determine that we're actually in a much worse scenario. Individuals who constantly live their lives in debt, companies that are experiencing serious financial difficulties and whose profit margins are decreasing, living costs that are increasing day by day and the property sector that has reached a bubble status again actually indicate that a very bad economic crisis period has begun. Basic reasons such as higher debt amounts and unresolved inflation compared to the 2008 crisis will cause us to go through a much worse crisis period.

Kakmakr

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I get a even worst feeling, when I see what are happening on the military side. We know that when we are on the brink of an economical collapse, countries tend to go to war, to deflect the attention away from what is happening in the economy. (When it eventually collapse, they blame the war)

We have North Korea visiting Putin in Russia and we have the war in the Ukraine that are being funded by other nations... and we have the BRICS countries moving away from the "West".

There are wheels that are set in motion for a WWIII to happen.... and I think we are passed the stage, where this can be stopped.

Porfirii

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In my opinion, what really happened to the OP can be explained by the theory of availability heuristics: the images about a financial crisis are so vivid after watching the movie that you think the probability of that happening is high.

So you can feel a hunch, by comparing both situations: the present one reminds me 2008. But this is the kind of intuition one should rethink. Remember "Exit all cryptomarkets!"? if you are right by chance you will be remembered as a genius, but it would be just luck, and most times you'll be wrong, so you'll make an ass of yourself, like the author of that claim.

adaseb

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Another thing that I just remembered from that movie is that they were all early to short the housing market. I remember there was a scene when they finally were into their short trade but the markets still kept going up. Every day they were going up. They were confused and upset. They called the markets being manipulated.

Then eventually it all came crashing down. It was easy to predict when it would happen. So even if the bubble will pop, it will be very difficult to predict the exact moment. Look at the Canadian housing bubble we got for like 2 decades pretty much.

The Sceptical Chymist

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Quote from: mindrust on September 14, 2023, 12:02:53 AM

people used to talk about the 87 crash a lot but nobody remembers it now so it is not famous anymore.

That was almost a flash crash, because the stock market recovered fairly quickly (though I can't remember what the economy in general was like afterward--but it was nowhere near as bad as what came after the events in The Big Short). I'd also say that the '87 crash might not be "famous" with younger folks because they probably weren't even born yet, but I'm sure a lot of business execs and Wall Street people won't ever forget it.

Anyway, you guys do realize that the bull market in stocks that started when things began to recover back in 2009 or so is still going on now, right? While I don't get the same vibe tread93 gets about the economy (or housing market), stocks just don't keep going up forever. That's almost as reliable as any law you'll find in a physics textbook, and that's saying something for such a soft 'science' as economics. So I'd say a crash is coming eventually, but I don't see anything that might precipitate it immediately.

Maybe Michael Burry knows what's up.

Mauser

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Quote from: tread93 on September 13, 2023, 10:04:49 PM

Just watching that movie gave me such chills, my family and I lost our house we lost everything in 2008 when the housing market crashed. Honestly after living through it in the worst way you can see how I would be such an advocate for bitcoin. Many other folks didn't have to go though that, and so they don't quite understand. I couldn't hell but think how strangely similar the feeling back then how it almost feels like the same type of conditions for things to happen. I said it the other day whilst playing golf to my m8 that something big was brewing, I could just feel it. Could we be on the verge of some crazy market crashes like in 2008?

Sorry to hear that you lost everything in 2008, hopefully your family managed to recover in the rebound. I am a huge fan of Michael Lewis and read the book and watched the movie. Listening to traders and their views it surprises me that not more people were finding out the huge mess the financial system was in. Having multiple homes and mortgages that you can't really afford and only relying on rising house prices to get out of your misery seems so wrong on multiple levels. Having now people doing the same scheme nationwide is going to lead to disaster. The issue back then was that many people knew about the problems, but nobody knew exactly when the bubble was going to burst. It was more profitable to ride the wave for a year or two in 2005, then to starting to bet against. Just look at Michael Burry, he was too early with his trades and lost a lot of money before the crisis hit. It's not enough to be right, we also need to be right at the correct time. While the economy is not doing great at the moment, I don't think we are heading to such bad times like in 2008. We don't have so many bad financial assets like the CDO madness from those times that were spread around the world

xSkylarx

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I've heard multiple times about speculation about the crash ever since but it hasn't happened yet so we should be glad for it but for sure in the future it will happen. Our feelings and instincts are almost the same. Your feelings right now are that you are scared or have a phobia about what will happen to you when the crash happens and you don't want to experience what you've experienced before that is why you are feeling it. The best thing to do right now is accumulate enough Bitcoin to prepare. This is like those people investing tons of money for a bomb shelter even though it ain't happening soon but still they are ready in case and we should as well do in Bitcoin.

Porfirii

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Quote from: poodle63 on September 16, 2023, 07:32:33 PM

I don't think its similar, the big short was caused by shitty mortgages being betted around its completely different because these big institutions and banks have learned their mistakes and definitely have already
watched the cause of the big short in the past and analysis current economic condition based on that. considering the fact that I think the main reason economic was collapsing due to the subprime mortgage and borrowers having many loans at the same time.
I don't think this time around things like that will occur honestly, maybe im wrong but honestly current economic condition better than in the past.

But it seems that people haven't learnt from the crash when many still spend over their possibilities, ask for student loans that won't be able to pay (some of them) and mortgages to buy expensive houses instead of buying cheaper ones and save for a better future. We live in a world where we want it all and we want it now (like the song).

And banks didn't learn too much either, because for many of them the lesson was cheap, when not for free.

poodle63

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I don't think its similar, the big short was caused by shitty mortgages being betted around its completely different because these big institutions and banks have learned their mistakes and definitely have already
watched the cause of the big short in the past and analysis current economic condition based on that. considering the fact that I think the main reason economic was collapsing due to the subprime mortgage and borrowers having many loans at the same time.
I don't think this time around things like that will occur honestly, maybe im wrong but honestly current economic condition better than in the past.

usekevin

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Quote from: tread93 on September 13, 2023, 10:04:49 PM

Just watching that movie gave me such chills, my family and I lost our house we lost everything in 2008 when the housing market crashed. Honestly after living through it in the worst way you can see how I would be such an advocate for bitcoin. Many other folks didn't have to go though that, and so they don't quite understand. I couldn't hell but think how strangely similar the feeling back then how it almost feels like the same type of conditions for things to happen. I said it the other day whilst playing golf to my m8 that something big was brewing, I could just feel it. Could we be on the verge of some crazy market crashes like in 2008?

The market crash of 2008 had affected many countries because of the economical crash of United States.This was the one of the story,many people had loss the house during the 2008 and after a decade they start to recover from the economy.But unfortunately the Covid had come in 2020 and again affected the people who had was in huge economic depression.After the Covid effect now some people trying to get away the poor position in the society.We hope the upcoming bitcoin halves in 2024 will help those people.

Silberman

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Quote from: tread93 on September 13, 2023, 10:04:49 PM

Just watching that movie gave me such chills, my family and I lost our house we lost everything in 2008 when the housing market crashed. Honestly after living through it in the worst way you can see how I would be such an advocate for bitcoin. Many other folks didn't have to go though that, and so they don't quite understand. I couldn't hell but think how strangely similar the feeling back then how it almost feels like the same type of conditions for things to happen. I said it the other day whilst playing golf to my m8 that something big was brewing, I could just feel it. Could we be on the verge of some crazy market crashes like in 2008?

Just as this market moves in cycles, the same is true for the stock market as well, however people have a very short memory so even if many suffered during the 2008 crisis as soon as things got back to normal they forgot about everything that happened back then, however even those that suffered greatly act as if it could not happen again and get surprised when it does and then they lose everything again, so without a doubt a crisis is coming, we do not know when and how big it will be but we need to be prepared, and holding some bitcoin is a nice way to try to resist it.

Huppercase

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Quote from: tread93 on September 13, 2023, 10:04:49 PM

Just watching that movie gave me such chills, my family and I lost our house we lost everything in 2008 when the housing market crashed. Honestly after living through it in the worst way you can see how I would be such an advocate for bitcoin. Many other folks didn't have to go though that, and so they don't quite understand. I couldn't hell but think how strangely similar the feeling back then how it almost feels like the same type of conditions for things to happen. I said it the other day whilst playing golf to my m8 that something big was brewing, I could just feel it. Could we be on the verge of some crazy market crashes like in 2008?

I think you are just one the few that fall in the wrong side of financial investment, there are more people that have seen more than what you have experience in the past and there are more to happen, it might not be now but in the future, anything can happen because even the life you breath isn't guarantee for the next day, so trade everything you are doing carefully. If you ask people that fell for Luna collapse, they will tell you that they have seen the worse, there were multiple reports of some investors that even took their life after the collapse of their investments but here you are still strong and elegant.

I was watching some YouTube videos when Covid19 had so intense effect on the market and everyone were all predicting how everything in that point in time will wlbe worse than what we have seen in 2008 but all of them failed and you know why that happened? When covid19 crash the market, nobody see it coming and when the market was bouncing back, no market focaster was able to tell fully because they were all afraid. I believe your assertions are not different from those ones. If the market is going to crash, not even you will be able to tell.

jaberwock

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Quote from: sesterceshop on September 14, 2023, 02:09:55 AM

I completely resonate with your sentiments. Having experienced the 2008 crash firsthand, it's hard not to draw parallels with the current state of affairs. It's a reminder of why I believe in Bitcoin. Some might not fully grasp it, but our past experiences give us a unique perspective. I mentioned to a friend recently that something significant seems to be brewing. Let's stay vigilant, and as always, keep an eye on our financials. Accumulating Bitcoin might just be the safeguard we need.

Ah so you guys are like having a trauma. Maybe you need to seek for a professional first before venturing another investment (even bitcoin). In fact, Bitcoin is much brutal because it was highly volatile and then we don't know what can come ahead, but I think if one will just be calm and continue HODL'ing his assets, he can always survive a crash.

If we are ready and we already have a Bitcoin, don't worry about the others if they didn't grasp it yet. We should only focus on our own because our own ability can dictate if we are going to be successful here or not (not the others). Accumulating Bitcoin can safeguard our money, as long as you won't do the wrong things.

Webetcoins

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Aren't we living through one? I mean, unemployment is on the rise in most part of the world, food prices are unreachably high, inflation doesn't stop goin up, bills and groceries are eating up most of what we earn leaving no room for savings or an emergency fund, and on top of everything, Bitcoin is not as valuable as it should be, so basically, we are living through a crisis right now and it will probably take some more time to normalize and hopefully we can see that happening.

I don't know if you know this or not but there are places in the world where people don't have anything to eat nor do they have any money or job or anything. A normal world wouldn't make things that difficult for any human, so we are actually within a crisis, it's just that it's not that huge that is why we who are doing pretty well are not realizing it that much.

alastantiger

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Quote from: Aanuoluwatofunmi on September 14, 2023, 11:05:39 AM

We understand the way the economy situations could sometimes be terribly bad and work against our luck, yet we need to keep moving and remain focused because they may be as distractions against our aspiring future plan to make it back in life, such occurences shouldn't be what may detached us from pressing further in making our goals come through, alot of businesses and enterprise had in the past suffered lost due to many reasons beyond thy could bear and yet they never look down on the economy prospect the future presents for them, in this, it can be an attempt for a second chance to make recovery and such could be through our embrace on bitcoin in cryptocurrency.

The unbearable fact is that most people have already given up on the market . Property experts are already predicting that what is coming is going to be worse than 2008. But instead of talking about the gloom and doom that is coming, We should be preparing for it and see it as the moment to seize the opportunities that the market is going to present. To be well positioned for it, we nee to have a significant margin of safety when buying real estate and secondly, focus on properties in need of significant repairs or renovations, they are often overlooked by other buyers. Don't be downcast by what is coming, see it as an opportunity instead.

molsewid

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Quote from: goaldigger on September 15, 2023, 05:07:52 PM

Quote from: ChiBitCTy on September 15, 2023, 04:04:21 PM

Honestly people tend to easily forget bad/scary/uncertain times when it comes to the economy as well as the stock market. This is something I speak about with my customers all of the time as an FA. I'm constantly hearing "I hear the economy is going to crash", and I've been hearing this every since I got in finance back in the early 2000's.

It's rare where we don't have this sort of "economic unease", so honestly I see today and these times no different that 10 years ago or 10 years ago before that. Simply prepare for the worst, hope for the best.

Its a cycle and we are about to repeat that history so I agree, better to be more ready.
There’s no safe market for this possible crash and for sure even crypto will feel it, but that’s ok you don’t need to panic and you just need to plan ahead, be more liquid and choose a safer investment like having a rental assets that can be your money machine, crypto market should not your only option when it comes to investing.

I agree, I can say that if anyone has an extra money better to diversify his asset. Even though I started trading crypto in about years from even before pandemic happens I am diversifying my asset if I have an extra money from my salary of whenever I got a little extra in my earnings here in bitcointalk I am making sure that I am not putting all my eggs in one basket. It is better to be safe, it is volatile we need to be ready and make research more if we are going to buy more or just stay calm at the moment.

Casdinyard

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Because it is.

As of this moment many would think the reason for the collapse could once again be attributed to the housing bubble and the inflation it caused, but in my opinion the reason why the big short will happen is because of the overprinting of money in many countries after the economic collapse brought about by COVID-19. They wanted to jumpstart the economy so they printed more money than they know what to work with which eventually backfired when the whole economy picked its pace up.

Also heard the news that the very guy the movie "the big short" was based off of is already shorting the market once again. Talk about bad news for us, this guy's never been wrong remember.

goaldigger

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Quote from: ChiBitCTy on September 15, 2023, 04:04:21 PM

Honestly people tend to easily forget bad/scary/uncertain times when it comes to the economy as well as the stock market. This is something I speak about with my customers all of the time as an FA. I'm constantly hearing "I hear the economy is going to crash", and I've been hearing this every since I got in finance back in the early 2000's.

It's rare where we don't have this sort of "economic unease", so honestly I see today and these times no different that 10 years ago or 10 years ago before that. Simply prepare for the worst, hope for the best.

Its a cycle and we are about to repeat that history so I agree, better to be more ready.
There’s no safe market for this possible crash and for sure even crypto will feel it, but that’s ok you don’t need to panic and you just need to plan ahead, be more liquid and choose a safer investment like having a rental assets that can be your money machine, crypto market should not your only option when it comes to investing.

Fortify

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Quote from: tread93 on September 13, 2023, 10:04:49 PM

Just watching that movie gave me such chills, my family and I lost our house we lost everything in 2008 when the housing market crashed. Honestly after living through it in the worst way you can see how I would be such an advocate for bitcoin. Many other folks didn't have to go though that, and so they don't quite understand. I couldn't hell but think how strangely similar the feeling back then how it almost feels like the same type of conditions for things to happen. I said it the other day whilst playing golf to my m8 that something big was brewing, I could just feel it. Could we be on the verge of some crazy market crashes like in 2008?

One thing that is true about most economic crises is that they are never the same as the ones that came before. They tend to appear out of the blue and in a new area that has not been properly monitored before. There is a possibility that China's property problems could be blowing up right now, but the causes will be quite different and their government structure will respond to it differently. If the big short should have taught you anything, it's that these vast amounts of money and instability were all relatively hidden behind closed doors and in financial instruments that the average person on the street never knew existed at the time. It doesn't even have to be a financial related crisis that will trigger the next recession, they can be formed by many different routes.

goldkingcoiner

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Quote from: tread93 on September 13, 2023, 10:04:49 PM

Just watching that movie gave me such chills, my family and I lost our house we lost everything in 2008 when the housing market crashed. Honestly after living through it in the worst way you can see how I would be such an advocate for bitcoin. Many other folks didn't have to go though that, and so they don't quite understand. I couldn't hell but think how strangely similar the feeling back then how it almost feels like the same type of conditions for things to happen. I said it the other day whilst playing golf to my m8 that something big was brewing, I could just feel it. Could we be on the verge of some crazy market crashes like in 2008?

I have seen the movie but I think it was meant to be much more dramatic than reality, as any good movie. Nobody really knows when or why the next crash is going to happen. Even though we know the banking system as well as fiat is so flawed it might happen at any time without much warning. And I doubt there will be a warning. Those responsible will try to sweep it under the rug, like in the movie. In the movie they highlighted a problem that nobody noticed or cared to do something about. Ultimately the crash was caused by incompetence, corruption and greed. Even the fact that they tried to screw over their investors by trying to get their money out first by dumping on unknowing investors in a "fire sale" highlighted the levels of greed and corruption that they were prepared to go to.

Bananington

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I can understand your concern because the pandemic that shook the world, that's the covid 19 period, taught us humans to learn to do alot of research. Some truths in the findings from history pointed to the fact that indeed the same kind of outbreak some time years back happened and the covid 19 was just a repetition of history.
In same vain, market crash which has happened in time past could repeat itself if proactive measures are not implemented right on time.
What plans do you have in case such as a crash hits?

Bitcoin has really eased alot of burden on the government to this effect and anyone who has the knowledge and can earn from crypto related investments now, is on the economic life boat of survival.

ChiBitCTy

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Honestly people tend to easily forget bad/scary/uncertain times when it comes to the economy as well as the stock market. This is something I speak about with my customers all of the time as an FA. I'm constantly hearing "I hear the economy is going to crash", and I've been hearing this every since I got in finance back in the early 2000's.

It's rare where we don't have this sort of "economic unease", so honestly I see today and these times no different that 10 years ago or 10 years ago before that. Simply prepare for the worst, hope for the best.

tread93

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Quote from: icalical on September 14, 2023, 09:49:43 AM

Quote from: tread93 on September 13, 2023, 10:04:49 PM

I said it the other day whilst playing golf to my m8 that something big was brewing, I could just feel it. Could we be on the verge of some crazy market crashes like in 2008?

You know in the Big Short, Michael Burry not only just have a feeling or gut, he actually was reading the data about the mortgage balance sheet of 2003 and 2004, and he found it strange, that's how he correctly predicted the housing bubble burst in 2007. So, if you can elaborate more about your feeling, and maybe provide some data, then maybe we could have a real discussion here.

I wish I could say that I had this feeling due to looking through endless financial statements that I have deemed to be doomed to collapse, but that is not the case. All I can say is that when you have all these mortgages that are too hard for the average american to afford plus insane rates and inflation through the roof, the way the USA is going with the Biden administration is a complete train wreck and BRICs stacking countries brick by brick its like there is the crazy shit storm happening, I just feel like something has got to give one way or another, and soon, and in turn give rise to new heights for BTC and also there will be some new Global Reserve Currency. CBDCs are creeping up here, shoot man just so much is going on. Its honestly hard to keep track of everything, you blink and miss a ton of stuff. Literally. But anyway, what a great movie thought right?!

asyakashi

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introspect again. how can you lose your house. If you are too crazy here to forget the assets that really need you. Of course, the risk is very big. But if you think back now, how much profit did you get from the Bitcoin you invested? I'm sure in 2018 bitcoin will be a lower price than now. at least it is 2x lower than the current market price. So do you sell at a loss or are you still holding it?

bayu7adi

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Quote from: AicecreaME on September 15, 2023, 12:29:40 AM

I think same thing happened when the corona virus hits us way back 2020. A lot of people have sold their properties in a very cheap price because their savings are already gone, they've lost their job because many companies have closed due to lack of customers or other things that's related to the effects of the pandemic.

The very lesson I've learned from the pandemic was to be prepared for anything, save as much as you can for your emergency fund, think of something that's going to give you money instead of spending it to things that doesn't generate money in the long run.

What signs did you all feel, and can you express those feelings and convey them to us? Instead of having to guess what you're feeling.

Indeed, Covid-19 had a significant impact on many people, including myself. I had to sell some of my belongings like my camera and a portion of my crypto assets just to make ends meet. It was a truly nerve-wracking time, with strict lockdowns in place, and even when at home, we had to follow health protocols. Layoffs were happening everywhere, and obtaining basic groceries became a challenge.

The economy was in disarray during that period, but the silver lining is that I managed to survive until now by leveraging the remnants of my possessions.

The lesson I took from the pandemic is that I need to diversify my savings even more. Relying solely on stocks isn't sufficient; there should be other assets like gold, crypto, bonds, forex, and so on. Having at least two different assets for savings purposes is what I'm preparing for in case of another sudden pandemic.

philipma1957

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Quote from: adaseb on September 15, 2023, 12:12:47 AM

It’s different now because there is a housing shortage, we didn’t have this back then. Right now nobody is selling their house because they got a good interest rate locked in. Maybe those who bought in the last 2 years might be in trouble but most owners who owned for more than a decade will be fine.

In Canada it’s brutal however because mortgage rates need to be refinanced every 5 years and many are suffering every passing month. Will it collapse? Who knows. We got a massive housing shortage here.

wow no 15 year 20 year or 30 year mortgages sucks.

back in the day i had a 30 year at 7.875 in state of new jersey usa.

they have a rule you can pay it down quickly with no penalty. So my wife and I pushed hard and paid it in under eight years.

I see the same housing issues in USA that were happening in 2008.

Investors owning five and six homes rents are too high. younger families can not buy a home they rent and pay high rents.

Franctoshi

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Quote from: tread93 on September 13, 2023, 10:04:49 PM

Just watching that movie gave me such chills, my family and I lost our house we lost everything in 2008 when the housing market crashed. Honestly after living through it in the worst way you can see how I would be such an advocate for bitcoin. Many other folks didn't have to go though that, and so they don't quite understand. I couldn't hell but think how strangely similar the feeling back then how it almost feels like the same type of conditions for things to happen. I said it the other day whilst playing golf to my m8 that something big was brewing, I could just feel it. Could we be on the verge of some crazy market crashes like in 2008?

Your experience with the 2008 great depression should even teach you about how to diversify, whether there is a similar crash coming or not, should tighten your seat belt, in the sense that you think about an investment in Bitcoin, Gold, and real estate.

There is this play that the market makers normally use to flush out the last set of sellers, when the market approaches the bottom or wants to bottom out they create a panic sell event and verse versa.

Yes, I can't disregard the possibility of it happening but I don't see it happening in a severe case other than what happened mid-late 2022 which led to those bank runs after the Luna and FTX crises.
I don't feel another crash worse as what we saw in 2008 is around the corner and if there is such a rumor, I think it is to cause more panic sell in the market,

pooya87

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Quote from: philipma1957 on September 14, 2023, 05:07:31 PM

You know I think the fed's are attempting to crash real estate bigly much like 2008.
They will raise rates again hoping the real estate market crashes.

When you make a claim like this you should explain their motivation too.
In this case from what we know, FED is not trying to crash anything. The economic hardship in general is the side effect of FED desperately trying to keep the Dollar strong as the world keeps dumping it by increasing the interest rates.

Quote

Next week new fed rates come. I have two good sources that swear to me the sept will come and stay paused . THEN in Nov we get raised 0.50 points which will crash real estate hard.

Unless your "good sources" are working in FED, they can't make such claims. Besides raising the rates more is not going to make any difference in keeping the inflation low so the chances of raising it is lower compared to the past which means even though such a raise is not impossible but nobody can "swear" on it.

|MINER|

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Market crash can happen anytime. We should always be prepared for it. I understand your situation and how much you suffered. Many of us are victims of such sufferings. So we should always be ready for ups and downs and to count when times are good. So that if there is any problem later, we can live a normal life with our accumulated capital. Even then always remember that invest that much amount as much as you effort to lose in every sectors.

AicecreaME

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I think same thing happened when the corona virus hits us way back 2020. A lot of people have sold their properties in a very cheap price because their savings are already gone, they've lost their job because many companies have closed due to lack of customers or other things that's related to the effects of the pandemic.

The very lesson I've learned from the pandemic was to be prepared for anything, save as much as you can for your emergency fund, think of something that's going to give you money instead of spending it to things that doesn't generate money in the long run.

adaseb

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It’s different now because there is a housing shortage, we didn’t have this back then. Right now nobody is selling their house because they got a good interest rate locked in. Maybe those who bought in the last 2 years might be in trouble but most owners who owned for more than a decade will be fine.

In Canada it’s brutal however because mortgage rates need to be refinanced every 5 years and many are suffering every passing month. Will it collapse? Who knows. We got a massive housing shortage here.

serveria.com

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Quote from: Don Pedro Dinero on September 13, 2023, 11:54:07 PM

The feelings you have do not have to coincide with reality, and in fact, most of the time they do not. From 2013 until now, every now and then I hear that we are going to have another crisis like 2008, and there hasn't been one, there have been small crises and then there was the exceptional case of the coronavirus that caused a crisis that we got out of quickly thanks to mass printing, but so far, nothing remotely similar to 2008.

Could it happen again? Yes, but this already sounds like the wolf's tale to me.

The only advice I can give you is to manage your finances well and accumulate bitcoin, then the crisis will affect you less or you can even take advantage of it. There were a lot of people who got rich in 2008 because they were able to buy cheap. That's what rich people do.

The best advice ever (especially the second part)! You shouldn't be afraid, shouldn't panic, just buy Bitcoin and your future will be financially secure.

As to the crisis, governments and politicians are doing their best to make things worse. As a result, gold price is going up, Bitcoin to follow.

philipma1957

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Quote from: tread93 on September 13, 2023, 10:04:49 PM

Just watching that movie gave me such chills, my family and I lost our house we lost everything in 2008 when the housing market crashed. Honestly after living through it in the worst way you can see how I would be such an advocate for bitcoin. Many other folks didn't have to go though that, and so they don't quite understand. I couldn't hell but think how strangely similar the feeling back then how it almost feels like the same type of conditions for things to happen. I said it the other day whilst playing golf to my m8 that something big was brewing, I could just feel it. Could we be on the verge of some crazy market crashes like in 2008?

You know I think the fed's are attempting to crash real estate bigly much like 2008.

They will raise rates again hoping the real estate market crashes.

I am not so sure it is as easy to do as it was in 2008.

Next week new fed rates come. I have two good sources that swear to me the sept will come and stay paused . THEN in Nov we get raised 0.50 points which will crash real estate hard.

Time will tell so be careful . Make sure you have some coin saved.

Captain Corporate

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Times are nowhere near similar at this moment. I understand why it may feel that way, you have seen the economy in that movie and how it crashed, and you see that the economy is doing worse right now compared to last year and know that last year felt better than the previous year, so you assumed that something is wrong and the crash is imminent right now. I understand that logic and the feeling, but fortunately, it's not the same. The difference is that the housing market crash was something incredibly sudden, the USA printed money and even distributed it all over the world basically because the dollar was cheap to get, loans were nearly free, everyone got it, and some of that money found its way to some other nations as well via companies who invested. So when it suddenly crashed, literally overnight, nobody was ready and it ruined not just USA for a while, but literally bankrupted a few nations along with it, not companies, not banks, I mean NATIONS.

Broly46

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I'm not trying to make fun of you. But when you feel it gonna crash, I had to begin to wonder whether you have been conned. I would only be convinced if it was the CONTROL FREAK (tm) that feel the crash is coming, you are not the control freak, not by reading and judging on your bio, grammar and literacy and occupations. I'm looking at news constantly, the control freak today are working tirelessly all over the place and telling you everything is fine, do you see who is the control freak around you? yup they are the only one who can pull off a giga crash like this, for little known some nobody, you can never pull off this gigacrash alone, never in your wet dream either. I would say it again, such gigacrash has to be as dramatic as GameStop pulling off the prank on investors.

Lanatsa

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Quote from: teosanru on September 14, 2023, 01:51:27 PM

Quote from: tread93 on September 13, 2023, 10:04:49 PM

Just watching that movie gave me such chills, my family and I lost our house we lost everything in 2008 when the housing market crashed. Honestly after living through it in the worst way you can see how I would be such an advocate for bitcoin. Many other folks didn't have to go though that, and so they don't quite understand. I couldn't hell but think how strangely similar the feeling back then how it almost feels like the same type of conditions for things to happen. I said it the other day whilst playing golf to my m8 that something big was brewing, I could just feel it. Could we be on the verge of some crazy market crashes like in 2008?

I think everyone is having these sort of thoughts that something is brewing around and something crazy might happen but trust me the craziest things happen when the markets are quite calm and infact going up with a positive sentiment because it's at that time that you can take up a lot of people in your traps while they might be thinking that market will go up from here.

Same thoughts on which you would really be having those kind of thoughts or feelings whenever you do see a pumping market and positive sentiments around the corner on which it would really be giving out some doubt that it is really just been that too good and you cant really make yourself that able to avoid on being paranoid with these things knowing that crashes could really happen in a snap after everyones been celebrating with the market price rise on which this is the best time on shocking every people in the market or this space. Those hunches and some voices in our mind will really be telling that there's something
been cooking and this is why whenever you do make out some potential decisions then you would really be that mindful or being that skeptical because of those hunches.

This is why it would really be ideal that better to make yourself set to be adaptive and always have those back up plans whenever the market do mess up.Dont make yourself get caught unprepared
because on the time that there's something happen then you would be banging up your head into the wall on why you had missed out on taking such actions earlier because
this is mostly people do miss out on doing so.

teosanru

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Quote from: tread93 on September 13, 2023, 10:04:49 PM

Just watching that movie gave me such chills, my family and I lost our house we lost everything in 2008 when the housing market crashed. Honestly after living through it in the worst way you can see how I would be such an advocate for bitcoin. Many other folks didn't have to go though that, and so they don't quite understand. I couldn't hell but think how strangely similar the feeling back then how it almost feels like the same type of conditions for things to happen. I said it the other day whilst playing golf to my m8 that something big was brewing, I could just feel it. Could we be on the verge of some crazy market crashes like in 2008?

I think everyone is having these sort of thoughts that something is brewing around and something crazy might happen but trust me the craziest things happen when the markets are quite calm and infact going up with a positive sentiment because it's at that time that you can take up a lot of people in your traps while they might be thinking that market will go up from here.

Spaceman1000$

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Quote from: tread93 on September 13, 2023, 10:04:49 PM

Just watching that movie gave me such chills, my family and I lost our house we lost everything in 2008 when the housing market crashed. Honestly after living through it in the worst way you can see how I would be such an advocate for bitcoin. Many other folks didn't have to go though that, and so they don't quite understand. I couldn't hell but think how strangely similar the feeling back then how it almost feels like the same type of conditions for things to happen. I said it the other day whilst playing golf to my m8 that something big was brewing, I could just feel it. Could we be on the verge of some crazy market crashes like in 2008?

Whatever fears your afraid of is has happened already due the effect of COVID-19 across the globe. The magnitude might not the same with what you've experienced but trust me the market reality isn't funny.

Though let's be optimistic about our thoughts because we wouldn't wish for an ugly experience again. Bitcoin will always come up better and stronger. I no your having a feeling but don't let it get to you too much.

kryptqnick

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I was pretty young when the 2008 crisis happened, and while it was noticeable in my country, much worse economic changes came several years later for unrelated reasons that kind of overshadowed that period, and since the crisis heavily affected the mortgages and those are not popular in my country at all, I guess the main effects just weren't as harsh.
I've seen the film a couple of times, and I love how it portrays the atmosphere and how it slowly spirals down that dangerous road. And I've had a time when I felt like we were going in that direction, but I just don't think so anymore. What I do think is that 2020s have been very unpredictable and stressful so far, and unfortunately, I think this trend will continue.

ZAINmalik75

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Quote from: tread93 on September 13, 2023, 10:04:49 PM

Just watching that movie gave me such chills, my family and I lost our house we lost everything in 2008 when the housing market crashed. Honestly after living through it in the worst way you can see how I would be such an advocate for bitcoin. Many other folks didn't have to go though that, and so they don't quite understand. I couldn't hell but think how strangely similar the feeling back then how it almost feels like the same type of conditions for things to happen. I said it the other day whilst playing golf to my m8 that something big was brewing, I could just feel it. Could we be on the verge of some crazy market crashes like in 2008?

I feel sorry that you have gone through a lot of bad times, and I am happy too that you didn't lose hope and stabilized yourself in the hard times. Please tell me, OP, that hard times are the times when someone learns something most important, and in your own words, you said that's why you are so optimistic about BTC. Because you knew how it could save you from the situations that occurred in 2008. But why are you so skeptical about the current market situation? Why do you think another market crash is coming?

The days of bankruptcy were 2 to 3 months ago. Even though I have not seen any new recessions, why are you thinking that something is brewing, and why do you think the market will come back to the same condition as it was in 2008? I said it because, back in 2008, there was no BTC to back ourselves up, but now we have the facility of BTC where we can store our money to save its value, but of course, we cannot save our houses.

m2017

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keep walking, Johnnie

Quote from: tread93 on September 13, 2023, 10:04:49 PM

Just watching that movie gave me such chills, my family and I lost our house we lost everything in 2008 when the housing market crashed. Honestly after living through it in the worst way you can see how I would be such an advocate for bitcoin. Many other folks didn't have to go though that, and so they don't quite understand. I couldn't hell but think how strangely similar the feeling back then how it almost feels like the same type of conditions for things to happen. I said it the other day whilst playing golf to my m8 that something big was brewing, I could just feel it. Could we be on the verge of some crazy market crashes like in 2008?

We may as well be on the verge of another crazy market crash. Perhaps even one that humanity has not seen for a long time. I understand that you have difficult memories from 2008, but what happened then is far from the worst thing that can happen. Markets are cyclical and this has been known for a long time. So, there is a theory that approximately every 10 years there are falls in the market, and every 100 years, very, very strong falls. The last time this happened was during the Great American Depression. About 100 years have already passed and some people predict that this could happen again. Nothing is new in this world.

By the way, "big short" is a wonderful and entertaining film that helped me, who at that time still understood absolutely nothing about markets, take a little look behind the scenes of the world of securities. Perhaps will need to reconsider this.

letteredhub

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Op your fears are justified haven had such bad experience personally but don't let it get hold of you. Thinking about it over and over will only be feeding your fears about the future. If there was going to be any market crash anytime soon it would have happened just immediately after the covid-19 pandemic that affected almost every sectors of human life particularly the economies of countries .

For your sake and that of your mental health cast your mind away from the thoughts of a market crash and focus such energy in organizing your financial plans by investing in profitable projects as your money can afford. 95% of the times, that which we fear never happens, it's rather the fear that kills us faster.

pooya87

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Things feel the same and have been felling the same ever since 2008 because they never solved the actual problem that led to 2008 economic crisis, instead they just put a band-aid on it and swept the real problem under the rug where it could fester.

Quote from: Alpha Marine on September 14, 2023, 02:26:43 AM

After the great depression that ended in 1939, it took 69 years before the financial crisis of 2008.

There have been a couple of other big financial crises between the Great Depression after 1939 and 2008, some of them were short but some were big like the 1970's and 1980's ones.
- Recession of 1945 (due to high spending by the end of WW2)
- Recession of 1949 that lasted a year (Truman's "Fair Deal" reforms)
- Recession of 1953 that lasted 11 months (aftermath of Korean War)
- Recession of 1970's (lasted 2+ years due to Arabs increasing oil price and sanctioning EU/US),
- Recession of 1980's starting near the end of 1979 started by Iranian revolution increasing oil price then the FED raising interest rates pushed US economy into recession which lasts to about 1982 (~2 years and 8 months)

Gozie51

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In 2008, this alternative we have now have not arrived, bitcoin was launched around January 2009 and ever since then the popularity, usage, adaptation and adoption of bitcoin has grown. More people are embracing the financial freedom and hodling their money in bitcoin and transacting likewise, so how do you think the experience is the same thing or would be the same, no it won't. The economy is crashing and probably the wise investors are even innocently contributing to that with DCA and investment in cryptocurrency therefore taking out fiat in circulation. This is possible to also be a reason for such crash, meaning the preparedness is already their and the circumstances won't be the same and the result different also.

Aanuoluwatofunmi

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Quote from: tread93 on September 13, 2023, 10:04:49 PM

Just watching that movie gave me such chills, my family and I lost our house we lost everything in 2008 when the housing market crashed. Honestly after living through it in the worst way you can see how I would be such an advocate for bitcoin. Many other folks didn't have to go though that, and so they don't quite understand. I couldn't hell but think how strangely similar the feeling back then how it almost feels like the same type of conditions for things to happen. I said it the other day whilst playing golf to my m8 that something big was brewing, I could just feel it. Could we be on the verge of some crazy market crashes like in 2008?

We understand the way the economy situations could sometimes be terribly bad and work against our luck, yet we need to keep moving and remain focused because they may be as distractions against our aspiring future plan to make it back in life, such occurences shouldn't be what may detached us from pressing further in making our goals come through, alot of businesses and enterprise had in the past suffered lost due to many reasons beyond thy could bear and yet they never look down on the economy prospect the future presents for them, in this, it can be an attempt for a second chance to make recovery and such could be through our embrace on bitcoin in cryptocurrency.

michellee

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And we are really lucky because we already have Bitcoin, which can help us prepare for global situations that might happen at any time. A market crash like 2008 might happen again to reset what has happened so that the world's economic situation might improve.

And before that happens, we already have Bitcoin, which will probably be the only way out of that predicament. While everything is still fine, we should use this time to own more Bitcoin. Just anticipating bad things that might happen will not make us difficult, especially if it concerns our lives and our families.

And if you feel that the situation is very similar to what we have experienced, maybe it could happen at any time. Still, the situation now is different because we already have Bitcoin. We hope to survive difficult situations later and welcome a new life.

icalical

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Quote from: tread93 on September 13, 2023, 10:04:49 PM

I said it the other day whilst playing golf to my m8 that something big was brewing, I could just feel it. Could we be on the verge of some crazy market crashes like in 2008?

You know in the Big Short, Michael Burry not only just have a feeling or gut, he actually was reading the data about the mortgage balance sheet of 2003 and 2004, and he found it strange, that's how he correctly predicted the housing bubble burst in 2007. So, if you can elaborate more about your feeling, and maybe provide some data, then maybe we could have a real discussion here.

DeathAngel

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Quote from: tread93 on September 13, 2023, 10:04:49 PM

Could we be on the verge of some crazy market crashes like in 2008?

The possibility of a market crash is always there but it’s difficult to predict when or if it will happen. The 2008 financial crisis was caused by a combination of factors including the subprime mortgage crisis, the collapse of Lehman Brothers & the failure of other financial institutions. There are some similarities between the current economic climate and 2008, there are also big differences. The global economy has been affected by the COVID-19 pandemic & central banks have taken measures to mitigate the impact. Always keep an eye on market trends & be prepared for any eventuality.

Helena Yu

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There's always a chance of economy crisis, usually this could happen every decade.

The last crisis was in 2019/2020, so there might be a crisis after 2029/2030, obviously this is just my guess and I will be more happy if it's not happen. As long as you hold Bitcoin, don't panic if economy crisis happen because no one will know how much your wealth and this can prevent the possibility someone can rob or steal your valuable thing.

CageMabok

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Quote from: tread93 on September 13, 2023, 10:04:49 PM

Just watching that movie gave me such chills, my family and I lost our house we lost everything in 2008 when the housing market crashed. Honestly after living through it in the worst way you can see how I would be such an advocate for bitcoin. Many other folks didn't have to go though that, and so they don't quite understand. I couldn't hell but think how strangely similar the feeling back then how it almost feels like the same type of conditions for things to happen. I said it the other day whilst playing golf to my m8 that something big was brewing, I could just feel it. Could we be on the verge of some crazy market crashes like in 2008?

I will respond to your question which is located in the last sentence, namely about the market crash which you consider crazy. Actually, it is difficult to give a very precise answer to this, but if it is only about crashes, it seems that everyone will never find a market crash at the same level as 2008 in any market now and also for the future.

Because every year there are always changes in several sectors, so things that have changed can also influence the level of market collapse, although the level of recovery will not be easier to occur. However, believe me that a market crash at the same level that you have seen before will not happen in the near future, even if it does happen I think the level will also be very different from what happened in 2008.

Alpha Marine

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Quote from: Don Pedro Dinero on September 13, 2023, 11:54:07 PM

The feelings you have do not have to coincide with reality, and in fact, most of the time they do not. From 2013 until now, every now and then I hear that we are going to have another crisis like 2008, and there hasn't been one, there have been small crises and then there was the exceptional case of the coronavirus that caused a crisis that we got out of quickly thanks to mass printing, but so far, nothing remotely similar to 2008.

After the great depression that ended in 1939, it took 69 years before the financial crisis of 2008.
I'm saying this because, after the great depression, there are people who must have kept hammering it that another crisis was coming but no one listened, the same way no one is paying attention now. They went on making the same mistakes that were made before.
No one knows when it will happen, but if the financial system continues on this part it may be inevitable. The major difference is countries with big economies are looking for ways to minimize the effect when it happens, it's the third-world countries that'll suffer it the most.

The situation is worse in developing countries. Maybe their government has a way of gaslighting the situation of things on the ground but if you look deeper you'll see how poor people are and that poverty is spreading throughout the region. Only a few rich people keep getting richer. The middle class has almost been eliminated. Now, it's either you're rich or you're poor, there's no in-between.
The worst part is, that things can get worse than it already is.

sesterceshop

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I completely resonate with your sentiments. Having experienced the 2008 crash firsthand, it's hard not to draw parallels with the current state of affairs. It's a reminder of why I believe in Bitcoin. Some might not fully grasp it, but our past experiences give us a unique perspective. I mentioned to a friend recently that something significant seems to be brewing. Let's stay vigilant, and as always, keep an eye on our financials. Accumulating Bitcoin might just be the safeguard we need.

dothebeats

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Market crashes can happen, especially now that there are a lot of things that are happening in the world, most especially in the field of international politics. And I do understand your worries as I have also given up some things due to the shifts in the market and my move to adapt to it (by sacrificing some things in order to ensure that I will financially survive). However, right now what we can do is to ensure that we have sources of income to depend on when things change and always be informed of what is happening (economically, socially, and politically) so we can be prepared to take an action and make decisions.

mindrust

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It always is. People were talking about the same stuff 40 years ago, way before “the big short”. The talk is always the same. The interest rates are too high, the interest rates are too low, the dollar is inflating, the dollar is deflating, the housing market is going to collapse, housing is doing great, recession is coming, inflation is coming…Nothing has changed since people invented the markets.

If you read a few old books about stocks, you will see that it wasn’t any different 30-40 years ago. Before 2008 and before 2002, people used to talk about the 87 crash a lot but nobody remembers it now so it is not famous anymore.

Don Pedro Dinero

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The feelings you have do not have to coincide with reality, and in fact, most of the time they do not. From 2013 until now, every now and then I hear that we are going to have another crisis like 2008, and there hasn't been one, there have been small crises and then there was the exceptional case of the coronavirus that caused a crisis that we got out of quickly thanks to mass printing, but so far, nothing remotely similar to 2008.

Could it happen again? Yes, but this already sounds like the wolf's tale to me.

The only advice I can give you is to manage your finances well and accumulate bitcoin, then the crisis will affect you less or you can even take advantage of it. There were a lot of people who got rich in 2008 because they were able to buy cheap. That's what rich people do.

tread93

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Just watching that movie gave me such chills, my family and I lost our house we lost everything in 2008 when the housing market crashed. Honestly after living through it in the worst way you can see how I would be such an advocate for bitcoin. Many other folks didn't have to go though that, and so they don't quite understand. I couldn't hell but think how strangely similar the feeling back then how it almost feels like the same type of conditions for things to happen. I said it the other day whilst playing golf to my m8 that something big was brewing, I could just feel it. Could we be on the verge of some crazy market crashes like in 2008?

Topic: Was just watching the big short. Why do the times suddenly feel similar? (Read 391 times)