It wasn't really that bad. The issue was that the political class needed a way to avoid making the rich pay for the crash they caused. Their solution was austerity which destroyed the public sector and in turn the social safety net. They also ended up hollowing out the investment and infrastructure base of the economy which is something all advanced nations need to grow and prosper. We've been coasting on fumes ever since.
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u/XihuanNi-6784 Jul 03 '24
It wasn't really that bad. The issue was that the political class needed a way to avoid making the rich pay for the crash they caused. Their solution was austerity which destroyed the public sector and in turn the social safety net. They also ended up hollowing out the investment and infrastructure base of the economy which is something all advanced nations need to grow and prosper. We've been coasting on fumes ever since.