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The impact of the Great Recession on Generation X
| cowgod | 05/13/26 |
| Trust If Aryan | 05/13/26 |
| cowgod | 05/13/26 |
| .....;;,,.........;.;.;.;.,;,;,;.;.;,; | 05/13/26 |
| Ass Sunstein | 05/13/26 |
Poast new message in this thread
Date: May 13th, 2026 7:01 PM Author: cowgod https://pmc.ncbi.nlm.nih.gov/articles/PMC8046011/ (http://www.autoadmit.com/thread.php?thread_id=5866423&forum_id=2most#49884244) |
Date: May 13th, 2026 7:29 PM Author: Trust If Aryan For this Generation X, the Great Recession (GR) that began in 2008 was the first major economic downturn that they had experienced in their lives. Most of these young adults in 2008 had spent their adolescence in the calm of the Reagan years and their college years during the economically prosperous Clinton Administration. For most Generation X adults, the turmoil of the Vietnam War years occurred before they were old enough to become politically aware and active and before they contemplated entering the workplace. Generation X is an important segment of the American population. This generation have completed the initial stages of their education, have entered into their occupational or profession track, have started a family if they plan to do so, and have become active in the political system if they intend to engage politically. Barack Obama was the first member of Generation X to be elected president and the number of members of the Congress – especially the House of Representatives – from Generation X is growing rapidly. A large number of newly elected House members in the 2018 US mid-term elections come from Generation X. The members of Generation X will dominate American society and politics for the next two or three decades.
Although some economic problems became apparent in 2007, the full impact of the economic downturn that we now call the Great Recession did not hit until the second half of calendar 2008. In the last months of 2008, the American economy was losing 800,000 jobs each month and this economic decline continued until the middle of 2009. The passage of the American Recovery and Reinvestment Act of 2009 (ARRA) in mid-February – about a month after President Obama took office – signalled the new administration’s intention to pump new spending into the economy but it took another four or five months until the loss of jobs stabilised. In the years since the beginning of the stimulus programme and related recovery measures, there has been substantial improvement in employment and economic activity, but the speed of recovery has been slower than many economists and political leaders would have liked and there are still groups and areas that have not experienced significant recovery |
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Date: May 13th, 2026 7:41 PM Author: cowgod (http://www.autoadmit.com/thread.php?thread_id=5866423&forum_id=2most#49884333) |
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Date: May 13th, 2026 8:10 PM Author: .....;;,,.........;.;.;.;.,;,;,;.;.;,; The funny thing is the dotcom bust that combo’d with the post-Enron downturn in of 34 Act financing was brutal for Gen X but people don’t even think it should count as a real recession because boomers did well from the further progress of ZIRP. Elder Gen X were also entry level employees for the 91 recession and got boned then, too, but it’s always discussed as the weakest recession ever. (http://www.autoadmit.com/thread.php?thread_id=5866423&forum_id=2most#49884406) |
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Date: May 13th, 2026 8:58 PM Author: Ass Sunstein Dot Com bust was way worse than 2008 IMO. (http://www.autoadmit.com/thread.php?thread_id=5866423&forum_id=2most#49884514) |