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"Major, years-long recessions"? In the lives of anyone 25 and under, there have been three recessions, the current 7-month recession, the 2008 recession which lasted 18-months, and the 2001 recession which lasted 8-months. Recessions in the US almost never last more than a year. https://en.wikipedia.org/wiki/List_of_recessions_in_the_Unit...


> In the lives of anyone 25 and under

I think you're mixing up your generational labels. Millennial are pushing 40. Under-25s are typically referred to as "GenZ" or, more colloquially, "zoomers".

> ... 7-month recession [...] lasted 18-months [...] lasted 8-months ...

Those are some... VERY specific timings. For many, the 2008 recession lasted >10 years. Putting a very narrow specific figure on it needs a little bit of perspective. 10 years is obviously ridiculous as it represents the extreme, but the impact of any academically-defined "18-month" recession is always going to be multi-year.


That may be true academically, but it’s important to point out that everything doesn’t just go back to normal when the textbook definition has ended. The wealth transfer from working class to the rich in 2008 was staggering, and so many people feel that we never really recovered from that crisis.


It really felt like the 2008 crisis never ended, it just trailed off into an exponential decay.


This really does do a good job of explaining it, I feel the same way, you just said it better than me.


It's also worth noting that basically in the last 20 years the US has been at war with some random part of the world.

That's all budget that is subtracted from domestic spending policy. And military budget is frickking huge.


Also depends where you're from. Any country that traded with the Soviet Union had a recession in the 90's


The slow recovery and after effects is also part of that timeline.


this recession isn’t over




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