Soon we’ll hear why a recession is actually a good thing and why low/slow growth is healthy and leads to a more efficient economy and consumers with a better world view due to economic hardships they had to encounter.
2. Some point to the spurt in startups (Airbnb, Uber, Lyft, Instagram, Snap) during the last recession as proof that recessions help rebalance the economy, assist promising industries to develop, but that’s a fallacy - those startups benefited from wider adoption of smartphones.
3. The last Recession was especially hard on lower-income Americans - working-age adults in the bottom 10% of earners suffered a relative loss of income 2.5X larger than the richest 10%—a relative difference much bigger than the three previous recessions. https://qz.com/1017074/shocking-statistics-show-how-the-great-recession-reshaped-america-for-the-poor/ …
4. Opioids abuse and suicide rates spiked in the US in the aftermath of the Great Recession and life expectancy continued to fall several years after the recession ended - grim data that isn't captured in rosy employment outlooks/economic projections. https://www.fastcompany.com/90274452/this-map-of-mortality-rates-in-america-shows-the-grim-details-behind-cdcs-life-expectancy-report …
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