A look back at the financial markets for today’s #TBT post
Posted By RichC on September 15, 2022
As we face another recession (some believe we are already in one – see February 2022 part 1 and part 2), I couldn’t help but notice a post from about this time of the year in 2008 (see chart at left) when 
we faced a previous self-inflicted recession (banking crisis).
The 2007-2008 Financial Crisis was the most serious since the Great Depression in 1929 … and was due to a perfect storm of lending to low-income Americans, zero down loans, excessive overall risk-taking by banks, poorly valued mortgage back securities and derivatives and finally the predictable bursting of the United States housing bubble. In hindsight, we could all see it coming, yet just as with cryptocurrency and the current excessive government spending, along with the ballooning debt and deficits these days, we still do little to fix our personal or national financial health.
Dow and Nasdaq chart from Tuesday 9/13/2022
Who really wants this kind of Throwback Thursday #TBT post or to acknowledge that politicians, and those of us who elect them, continue to run our nation down such self-destructive paths?
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