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Question to people aged 40+

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I am 29, and I watched a documentary about the 2008 financial crisis, and of course I was too young in 2008 to really "feel" it. It got me to think about our current economic climate, so my question is relatively simple to those who were adults in 2008:

Is the world right now in an actual really, really tough time economically, or am I and my peers just "feeling" and "seeing" it because we're now adults? For example, did you feel similarly, or perhaps even worse, during and after 2008?

Sorry if I sound ignorant, just don't know how much I can trust my own instincts as I tend to overdramatise things presented to me by media.

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  • The 2008 crash was something that was concerning and resulted in individuals worrying about their job and so spending less, however it didn't have an immediate direct personal impact for most individuals in the UK, however brexit (causing price increases for the weekly shop) and energy prices increases in more recent times have had a personal impact on the finances of many individuals and so for the majority of individuals is I believe worse.

  • in reply to Trev

    Don't forget covid too. A lot of this stuff is beyond the control of any one government and trying to get international action takes ages and some refuse to take part, so big companies like banks and tech can basically set thier own rules or not and theres not a great deal a government can do about it. For example we have an over reliance on the banking sector and any attempt at real control of banks, results in threats to pull out of the City of London, which would crash our economy.

    Some of it though is self inflicted like the Liz Truss budget, borrowing to give tax reductions whilst not dong anything to raise money for government spending was a disaster and would never work, People have been talking about trickle down economics since Thatcher and is dosen't work. The rich get richer and the poor get poorer having the crumbs from the rich persons table, is that really any better than surfdom or even slavery? Why do rich peope need to be rewarded as an incentive for working harder and the poor punished into working harder?

    Brexit was another self inflicted wound, the whole things was poorly thought out and set up, if it was a national descision then it should of been a national, cross party group negoatiating a deal, rather than have the mess that we were left with by Johnson's Tories.

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  • in reply to Trev

    Don't forget covid too. A lot of this stuff is beyond the control of any one government and trying to get international action takes ages and some refuse to take part, so big companies like banks and tech can basically set thier own rules or not and theres not a great deal a government can do about it. For example we have an over reliance on the banking sector and any attempt at real control of banks, results in threats to pull out of the City of London, which would crash our economy.

    Some of it though is self inflicted like the Liz Truss budget, borrowing to give tax reductions whilst not dong anything to raise money for government spending was a disaster and would never work, People have been talking about trickle down economics since Thatcher and is dosen't work. The rich get richer and the poor get poorer having the crumbs from the rich persons table, is that really any better than surfdom or even slavery? Why do rich peope need to be rewarded as an incentive for working harder and the poor punished into working harder?

    Brexit was another self inflicted wound, the whole things was poorly thought out and set up, if it was a national descision then it should of been a national, cross party group negoatiating a deal, rather than have the mess that we were left with by Johnson's Tories.

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