{"id":22933,"date":"2024-01-02T22:00:02","date_gmt":"2024-01-02T22:00:02","guid":{"rendered":"https:\/\/www.duck9.com\/blog\/?p=22933"},"modified":"2024-01-02T18:01:00","modified_gmt":"2024-01-02T22:01:00","slug":"what-the-fruitatta-happened-in-2008","status":"publish","type":"post","link":"https:\/\/www.duck9.com\/blog\/what-the-fruitatta-happened-in-2008\/","title":{"rendered":"What The Fruitatta Happened in 2008?"},"content":{"rendered":"
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What really happened in 2008? (It was NOT a financial crisis) <\/div>\n
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THREAD🧵👇<\/div>\n
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Let’s talk about 2008. Often labeled a ‘financial crisis’, it was much more\u2014a monetary meltdown. Forget subprime mortgages; they were just the tip of the iceberg. Here’s a deep dive into what really shook the world and, most of all why it still matters.<\/div>\n
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The crisis wasn’t just inflated asset prices going bust. It was about the world running dry on dollars. Think of it not as a wound in the financial system, but as the lifeblood (money) draining out, affecting everything in its path. <\/div>\n
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Fast forward 15+ years, and we’re still in the shadow of 2008. It’s not just a memory; it’s a ghost haunting our economy. Think low interest rates are good news? History tells a different story\u2014they are often signs of entrenched economic depression.<\/div>\n
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2008 was NOT a financial crisis <\/div>\n
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A financial crisis is when you get an extreme asset bubble and then those crap assets get priced to reality hurting a lot of individ<\/div>\n
uals in the process. This is what we saw during the tech bubble (1999) or the S&L Crisis, more recently the crypto bubble (the latest one, anyway).<\/div>\n
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The 2008 meltdown went way beyond some assets losing value. Even genuinely good assets had to be repriced – lower, of course – because there was no cash to buy them or any others. It’s like having a treasure chest but no key to open it.<\/div>\n
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Remember the dot-com bubble? The S&L crisis? Why didn’t they trigger global disasters? Because they didn\u2019t involve the monetary system. The 2008 crisis was a storm that dried up the financial ocean, not just rocked a few boats.<\/div>\n
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The difference is ALL about money <\/div>\n
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This wasn’t a solo act by the U.S.; it was a global drama. The eurodollar system (virtual dollars flowing around the world mainly outside the U.S.) was the stage where much of the plot unfolded, a detail often missed in mainstream stories.\"image3.jpeg\"<\/div>\n
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Bernanke’s 2010 words hinted at this bigger picture. It wasn’t just about housing loans going bad; it was a worldwide dollar drought shaking up the global financial scene. It is understandable why the myth of a financial crisis has endured; from the shallowest perspective, it looked a lot like one.<\/div>\n
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The plot thickened with European banks caught in the eurodollar riptide, leading to a tidal wave of fund outflows. This was beyond bad loans; it was the financial world gasping for liquidity. Monetary circulation throughout the world\u2019s reserve currency plumbing ran suddenly dry.<\/div>\n
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Enter the repo market – the crisis’ turning point. Collateral once deemed safe became risky, amplifying the initial stage, already dangerous liquidity crisis. It was more than just a market correction; it was a breakdown at the monetary core and there was no coming back from it.<\/div>\n
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Now, in the 2020s, the echoes of 2008 still linger. The pandemic’s economic shockwaves are riding on the back of this silent monetary depression.<\/div>\n
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Central bank rate cuts, including those now being openly discussed by central bankers, contrary to popular perception are not just economic tweaks; they’re distress signals, hinting at a return to the gloomy 2010s and its decade-long hangover from a financial mess that spiraled out of control into a full-blown monetary catastrophe.<\/div>\n
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Even though it was fifteen years ago, we are still living under its shadow – an absolutely critical fact that has gone, and still goes, unappreciated in the rush to pin it as a financial crisis about subprime mortgages. This understanding is crucial as we navigate today’s economic complexities.<\/div>\n
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If you want to join my newsletter you can here: funnel.eurodollar.university\/newsletter<\/div>\n

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What really happened in 2008? (It was NOT a financial crisis) <\/p>\n

THREAD🧵👇<\/p>\n

Let’s talk about 2008. Often labeled a ‘financial crisis’, it was much more\u2014a monetary meltdown. Forget subprime mortgages; they were just the tip of the iceberg. Here’s a deep dive into what really shook\u2026 pic.twitter.com\/jw3U5v06BN<\/span><\/a><\/td>\n<\/tr>\n

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WordPress\u2019d from my personal iPhone, 650-283-8008<\/a>, number that Steve Jobs texted me on<\/span><\/div>\n

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What really happened in 2008? (It was NOT a financial crisis)  THREAD🧵👇 Let’s talk about 2008. Often labeled a ‘financial crisis’, it was much more\u2014a monetary meltdown. Forget subprime mortgages; they were just the tip of the iceberg. Here’s a deep dive into what really shook the world and, most of all why it still […]<\/p>\n","protected":false},"author":1,"featured_media":22934,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-22933","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/22933","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/comments?post=22933"}],"version-history":[{"count":0,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/22933\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/media\/22934"}],"wp:attachment":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/media?parent=22933"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/categories?post=22933"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/tags?post=22933"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}