Since its inception I have been obsessed with the great recession of the late 2000s.
Even before I, as many in America, experienced and then became jaded and desensitized to the mounting job losses, foreclosure crisis, and credit crunch, I recognized that this phenomenon would be a defining time in America's history; and furthermore, our response to and fallout from it would come to be synonymous with our era (think Japan's lost decade).
When it became apparent that the bad bank loans and credit insouciance of the previous 5-10 year period were reaching cataclysm, the world seemed to inexplicably shrug it off. There was a prevailing attitude that we were untouchable; our economy too rigid and interdependent that there couldn't possibly be any weak spots. As it became evident that what we mistakenly thought was a solid footing was actually a series of artificial supports, the world stumbled, choked on its hubris, and nearly ground to a halt.
But you, reader, already know the story: the job losses mounted, the hiring stopped, homes were being abandoned and foreclosed upon at an alarming rate, home prices plummeted daily, entire neighborhoods were becoming ghost towns, and a genuine concern began to permeate the masses--would we be OK?
It has been nearly four years since the recession began picking up steam and there's no sign that we have returned to "normal"; in fact, the new buzz phrase 'round the water-cooler is "new normal." Exactly what is the "new normal" is a moot point and, of course, depends upon the person you're speaking to and their political tendencies and monetary position. In these four short years I have experienced a lifetime of economically related emotions, and I have acquired a breadth of knowledge pertaining to the subject matter which allows me to better prepare myself and inform others about what has happened, how to prevent it, and what to do if it occurs again.
Particularly, I have gained great insight into financial markets, the cyclical nature of economies, and have done my best to weed out the bias, political intentions, and peel away the capitalistic covers in favor of a more balanced, objective and unbiased look at financials. I don't bet against companies, try to cash in on job losses, recommend trying to profit off of stock prices dropping, and certainly don't try to exploit or mislead.
This blog's intentions are to advise, alert, investigate and offer knowledge and wisdom related to The Great Recession and financial markets.
You can call me the freelance financial guru; the amateur analyst turned sage; or the free financial reporter, in every sense of the word.