03-28-2020, 10:10 AM
For the people that were here for the last recession, exactly what happened?
2008:
Real estate values plummeted
Gas prices dropped
Retirement account nosedived
Business didn’t return to pre 2008 sales & profits for three years
Had plenty of food
Banks didn’t close
Within a few months most vendors and customers were functional. The marginal customers who required the most effort, calling for payment, begging for a check, went out of business. I lost some money, but also lost an ongoing headache.
Business recovered and thrived. (Until last week.)
2008:
Real estate values plummeted
Gas prices dropped
Retirement account nosedived
Business didn’t return to pre 2008 sales & profits for three years
Had plenty of food
Banks didn’t close
Within a few months most vendors and customers were functional. The marginal customers who required the most effort, calling for payment, begging for a check, went out of business. I lost some money, but also lost an ongoing headache.
Business recovered and thrived. (Until last week.)
"I'm at that stage in life where I stay out of discussions. Even if you say 1+1=5, you're right - have fun." - Keanu Reeves