Not quite as big, and not quite as many peaks and troughs, but the build up from the 90s really shows it.
1920s - the automobile ushered in a new era of commerce, causing many more shops and stores to be opened up. Created an "information age" so to speak, as it linked together so many people. 1929/early 30s - many companies over expand, have to deal with waning interest, etc. and collapse 1934 to 1937- economy starts to improve quite a bit, FDR's administration focuses on getting people to work 1937- FDR and congress shift towards "balancing the budget", economy gets worse again.
1995 to early/mid 00s - the internet ushers in a new era of commerce, causing tons of new businesses and expanding older ones. Very few problems, aside from ones like the "dot com" bust around 1999/2000. mid 00s to about 2008- these businesses over expand, have to deal with the internet becoming a waning novelty, and collapse 2009- obama bails out industries, employment starts to come back 2011- Obama and congress shift towards "balancing the budget", and the first half of 2011 economy stops regaining strength
sorry for the history lesson, just bored. The only major difference i see is obama kinda half assed the bail out. Not in the sense of giving away money, but he should of focused more on creating government programs to rebuild infrastructure, instead of just bailing out companies.
thanks to tonights rachel maddow show for showing me key dates
-- Currently playing: SC2, Civ 5 Next up: eh ; Awaiting: meh
The internet didn't become a waning novelty, and things aren't even close to comparabley bad as they were in the depression, I'd say. But still an interesting comparison.
-- One Piece: Pirates with style! -= Metal Gear Solid: Tactical Espionage Action =-
The internet didn't become a waning novelty, and things aren't even close to comparabley bad as they were in the depression, I'd say. But still an interesting comparison.
the internet is waning in terms of novelty. People are finding their "main sites" now that the internet has been around for so long, and explore it less and less. A few years ago mark cuban (of all people) on his blog made a great point about what happens with major breakthoughs (radio, cars, tv, internet) that reshape commerce/lifestyles, and the internet is falling into that exact category.
And id argue that things were much worse because the car was a bigger invention that caused an even more unsustainable growth. Thus, there was a bigger fall from grace when the market was finally correcting itself.
-- Currently playing: SC2, Civ 5 Next up: eh ; Awaiting: meh
Red Shifter posted... he couldn't create government programs because SOCIALISM
Agreed. Obama has pretty much had his hands tied his entire administration. Every idea he's had gets cut and re-shaped into something less than it was due to congress.
Not really the internet though. Real estate ventures and McMansions led much more to the mortgage crisis than the internet. Waning interest in buying large properties for tons of money, as well as all that crap zero interest, no money down stuff from the banks. It's like stocks. Stocks were just bought, bought, bought with seemingly little recourse and when everything crashed, everyone's money went with it even the people who weren't apart of it. Same for properties. Real estate has sucked the past decade or two. Giant ass yards with one big house when you could easily fit four or five good-sized two-stories with a lot of yard.
Everyone partied for a decade, rolled around in cash, everything collapsed, and it sucks.
--
"Oh my God MWIS. I just really want to ask, if this is a SMALL CYOA.... what in the name of holy blue christ is a big one?!" - ExTha
well where e-commerce and internet really kicks in to the current cluster**** is that when that bubble burst all the speculators moved into real estate as their commodity to artificially screw with the free market. and when real estate collapsed they moved to oil. the current one is gold and other precious metals from what ive been reading.
-- Currently playing: SC2, Civ 5 Next up: eh ; Awaiting: meh
1995 to early/mid 00s - the internet ushers in a new era of commerce, causing tons of new businesses and expanding older ones. Very few problems, aside from ones like the "dot com" bust around 1999/2000. mid 00s to about 2008- these businesses over expand, have to deal with the internet becoming a waning novelty, and collapse 2009- obama bails out industries, employment starts to come back
dot com bust was a significant problem, and was really the end for that internet commerce stuff.
the marketing of debt is the major problem last decade, mixed in with a little bit of "American car companies are dumb and stubborn"
--
Donny: Are they gonna hurt us, Walter? Walter: No, Donny. These men are cowards.
From: Mega Mana | #051 Everyone partied for a decade, rolled around in cash, everything collapsed, and it sucks.
*The rich partied for a decade, everyone else's wages decreased
--
The box says "Online Gameplay not rated by ESRB", I should be able to trade my phallic named Wobbufetts to a bunch of 8 year olds. - MarvelousGerbil
Personally, I blame both parties in the house and senate for this.
Democrats are too p**** to really push for what they want, Obama is very much the same way. Then the Republicans get what they want, which is a bunch of s*** that destroys the economy. We could solve a lot of our problems if conservatives would just stop being complete dick heads and let us raise taxes on the rich.
-- I like how each new topic you make reveals such varied facets of your idiocy. - foolmo Now this is entertainment!
Biolizard28 posted... We could solve a lot of our problems if conservatives would just stop being complete dick heads and let us raise taxes on the rich.
The poor exist to support the rich, not the other way around. There's a reason that every society has functioned this way going back thousands of years.
I've noticed the novelty of the Internet has worn down on me.
Like when you first get the Internet. It's just so incredible with all this information available and all these sites to visit. Now I hardly explore the net outside of a set few sites.
--
Brawl is like ZSS' breasts. Well rounded for casual players. http://i53.tinypic.com/28sxzzr.jpg
FDR's spending didn't really turn the economy around; it was World War II that did that. Also, here's the big difference between this one and the Great Depression:
Dow September 1929 Peak: 381 Dow July 1933: 41
Dow October 2007 Peak: 14198 Dow August 2011: 11384
So, we're about 20% below the peak instead of almost 90%.
I'm asking them to cut the f***ing s*** and pay taxes to save our f***ing country.
They do pay taxes, you're asking them to pay a disproportionate amount to save welfare programs that enable people to be leeches. The country will be fine, but it does definitely need to lose some of the fat.
Government action was necessary, but the bailout was definitely a wealth transfer from the middle class to the rich. We bailed out the top of the economic ladder, and relied on trickle down effects for the rest.
I think at this point further upward wealth redistribution is no longer good for the rich in the long run. Taking a larger share of a shrinking pie is a bad idea in the long run, as everyone except socialists and communists ought to know. The only way to sustain this is to jettison more and more people out of the "rich" group; that is, shrink it from top 5% to top 1% where it's at now to top 0.5% and lower in the future. Better to get an expanding pie.
I think housing market is more of an issue than the internet age. Lenders were forced to give loans to people who couldnt handle them and everything crashed
-- Circle gets the Scare! Imagine if Jesus knew kung fu. That's what everyone is dealing with
Lenders were forced to give loans to people who couldnt handle them and everything crashed
It's the same pool of wealthy people that are also demanding larger and larger bonuses every year while their employees wages aren't keeping up with inflation and rising costs of living. It's their own fault their greed blew up in their faces. Kind of anyway, Obama was right there to bail them out so in reality they have learned nothing.