Are We Facing The Same Kind Of Financial Crisis As We Faced In 2008?

[Good-Person]

The year 2008 was one of the worst years for the world economy. Businesses were suffering and the global stock market was crashing badly. During that time, many companies declared bankruptcy. Do you think that we are facing the same conditions in the year 2023? Or do you think that the year 2008 was much worse?

 

[Mayorla]

I do not think we are facing the same Financial conditions as 2008. The 2007 - 2008 Global Financial crisis was very severe and it affected every sector ranging from the Stock market to the Housing market. I really do hope 2023 does not end like that.

 

[Syldan]

Actually our experience can never be the same I believe.
There may be people who are facing the same or similar challenges while other are not depending on the situation of their location and what effort they have made towards achieving the best for themselves.

 

[Heatman]

Every economy in the world is facing one economic crisis or another which is why I believe that it is something that is constant and common in every country right now. Well, you can actually see it with the level of inflation the whole world is suffering today.

 

[HK World]

I don't remember 2008 exactly. I only remember that I was studying in college. I don't know about the global market, but I know that the economy of our country was much better than it is now. People were not complaining about high prices, as they are now in 2023. So I think even before COVID-19, things were not as challenging worldwide as they are now.

 

[Modar]

Actually I don't know about the World Economic Crisis of 2008, but I know that the crisis was started by the USA and something bad happened to the Dollar then. After that, 15 years have passed and everything seems to have improved, but of course this does not mean the inflation of many countries, which still worries us. This is a constant and inevitable problem.

 

[Starmix]

I can't remember the worst situation in 2018. I was busy working offline and doing side hustles on the web. I believe the world suffered that way as per your description of yours. For me, 2023 is the worst year for me as what I experienced. Prices soar nonstop and there is also a gas increase and people suffer a lot.

 

[Riberet19]

I don't think it will be the same, now we are facing the possible worst debt crisis that we are going to be able to face, I don't know when it will arrive, but it will arrive, many economists say that 2025 is the deadline and that is when we will have the worst time, we are in a very difficult macroeconomic context, with 2 active wars, tensions everywhere, runaway inflation, the real state sector in a bubble, and the worst of evils, the almost unpayable debt that we are going to face, late or early.

 

[Starmix]

Let us pray that peace reigns on the earth so people won't suffer economic crises and extreme fear of the unknowns. Let us face this ordeal and never give up hope.

 

[Riberet19]

Let us pray that peace reigns on the earth so people won't suffer economic crises and extreme fear of the unknowns. Let us face this ordeal and never give up hope.

Crises are cyclical and always end up coming, it is better to be prepared and know a little about the economy before it is too late, that is why you have to save when there are good times, because crises always hit the economy again, sooner or later.

 

[Nomad]

I think the current financial crisis is more severe than it was in 2008. IN 2008, it was mainly a housing crisis that created domino effects on other markets as well. However, today we are facing several economic crisis and this is mostly being fuled by the war taking places in different parts of the globe.