10 Years After One Of The Biggest Economic Crisis Ever: World Has Survived

[damirUSBiH + 327]

One of the biggest financial crisis and the massive federal response changed the world. Today, ten years after - we could say the economy is in one of its longest expansions and stock indexes have hit new highs. But, recovery is uneven and the markets' gains aren't fairly distributed. Of course, America has come a long way since the government had to step in to save the banking system from going under. Corporate profits are at record highs, the unemployment rate is at a 17-year low and the stock market has quadrupled in value since its Recession-era nadir in 2009. Still, many of Americans, and not only Americans, but the other nation too, feel the consequences of that storm. Main question is have we learned anything?

[pinto + 293]

It was hardest period for many of us - it looked like the end of the world. Today is much better, but recently I found one brilliant message from Richard Bookstaber, former risk manager at Morgan Stanley and author:
" People aren’t going to be that stupid again. So they find another way to be stupid…I think there’s going to be other crises.”

[Petar + 76]

There is progress, but also stagnation. It's hard to put everything in one place:  

-  Good times are back in the market
 - Wall Street pay has rebounded
 - The recovery has been uneven
 - I nequality has grown
 - For the bailouts, many unhappy returns ( I remined the financial crisis cost the U.S. economy some $6 trillion to $14 trillion in lost output) 
- The six largest banks have paid at least $110 billion in penalties related to the crisis. But, the banking sector is still strong and economically stable.. 
- Bitcoin is new mania

....

[jpZelabal + 63]

What happened ten years after the "Great Depression"? Great uncertainty!

[franco + 96]

Better than before, however, it is still far away from ideal. Financial sector, 10 years after global economic crisis, continues to remain vulnerable. More countries pursuing innovation, but more to be done to spread the benefits. Labour market must become more flexible and protect workers.

[damirUSBiH + 327]

China was the only major economy that grew significantly as the crisis unfolded.

[Pavel + 384]

21 minutes ago, jpZelabal said:

What happened ten years after the "Great Depression"? Great uncertainty!

Few facts. The Great Depression of 1929 devastated the U.S. economy: 1/2 of all banks failed. Unemployment rose to 25% and homelessness increased. Housing prices plummeted 30%, global trade collapsed by 60%(Smoot-Harley) and prices fell 10%. It took 25 years for the stock market to recover. 
However, ten years after last crisis, we are on good way...

[CMOP + 227]

1 hour ago, pinto said:

It was hardest period for many of us - it looked like the end of the world. Today is much better, but recently I found one brilliant message from Richard Bookstaber, former risk manager at Morgan Stanley and author:
" People aren’t going to be that stupid again. So they find another way to be stupid…I think there’s going to be other crises.”

That's a great quote. This is the story of humanity. It's happened time and time again. 

[damirUSBiH + 327]

True, there is fear: trade war, nuclear war, etc... But,world economies are just getting back on a solid growth footing after multiple years of sub-par growth (and contraction in some countries). The great financial crisis took this long to get over. I think we have a few years of growth yet.

[Petar + 76]

Step by step... Nobody’s denying that there is a natural recovery after hitting a trough like 2008.  But we recovered far ahead of the rest of the world. The market doubled, unemployment historically low, record job growth. I agree, we haven't still  learned all lessons from the economic crisis.