this post was submitted on 13 Jun 2025
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[–] IrateAnteater@sh.itjust.works 37 points 2 days ago (2 children)

I feel like 9/11 was the inflection point. The great recession was just another symptom of the problem. Banks can't get overwhelmed by underwater mortgages if people aren't underwater in the first place.

[–] atomicbocks@sh.itjust.works 25 points 2 days ago (2 children)
[–] kruhmaster@sh.itjust.works 11 points 2 days ago (1 children)

Going by the presented graphs, something happened in 1960.

[–] gdog05@lemmy.world 12 points 2 days ago

I don't know the root cause but that's about when the events of Confessions of an Economic Hitman started.

[–] conditional_soup@lemm.ee 5 points 2 days ago

You could be right about that. I was going to say that they caused the problem with subprime lending, but I think that subprime lending would probably never have been attractive enough to not laugh the guy out of the room what proposed it if most people weren't already in a bad financial position with low economic mobility.