A Decade Later | How Americans React To A Financial Crisis

Written by:

Life Coach Carioca Da Gema

 

The Great Depression of the 1930’s and the financial crisis of 2007-2008 was caused respectively by a stock market crash and deregulation in the financial industry.

Robert and Dorothy were children of the Great Depression.

Robert lived in an upscale neighborhood, he was a compulsive buyer. “My family was very poor” he used to say, justifying his latest purchase. Robert used to buy two of everything; there were unopened boxes of small appliances and a variety of other items all over his home.

Dorothy was also a child from the Dust Bowl. She was frugal, lived in a modest home with basic furnishings, and wore simple clothes. She died leaving her two sons a surprisingly large estate.

It has been over a decade since the global financial crisis. The human reaction of losing it all resembles that of previous generations.

Some people chose to move out of their area for a complete fresh start.

There are those who are traumatized, and can no longer spend as they used to. Living through their personal crisis, while watching family and friends hit bottom, can make one lose faith in stability.  This kind of event makes us think of how little of control we actually have over our own lives.

But the spirit of consumption lives on, as people that could not pay their electric bill back in the 2008 are now fully functioning again.

I have noticed sudden changes of character, as some people seem to have become more entitled; it’s almost a sense of vengeance against ‘not having enough’.

Have we learned anything from these two traumatic financial events?

I think NOT!

The total household debt as of the 2ND quarter of 2019 is US$13.86 trillion. In 2008, when the chandeliers blasted off the ceilings, we owed US$11.5 trillion.

Keep on spending…

 

 

Copyright© Edge of Humanity LLC 2019

 

 

 

This slideshow requires JavaScript.

 

Thought-provoking T-Shirts

by Edge of Humanity Magazine

 

 

If my perspective helped or entertained you in any way, please consider a donation to assist Edge of Humanity Magazine to continue to provide neutral, outside of the box content.

DONATE

Neutrality comes with the price of being disconnected. Society is composed of like-minded people; teal lovers search for bluish-green connections, and the burnt sienna worshippers choose to navigate a path that’s deep reddish brown. Embracing the color wheel will yield richer exposure and isolation.
There is no glory in neutrality.
Edge of Humanity Magazine has no religious, political, financial,  or social affiliations.

Thank you.

 

 

 

Others Perspectives From

Carioca Da Gema

 

BACK TO  HOME PAGE

%d bloggers like this: