Thursday, July 11, 2019

202: The Great What?

Smarsh describes "The Great Recession of 2008" as an event of generational impact. Earlier in the book (29), Smarsh says identifies Jimmy Carter's foreboding "Crisis of Confidence" speech (July 15, 1979) and Ronald Reagan's inauguration (January 20, 1981) as the twin historic events that framed her birth.

Sometimes, events of "generational impact" are not remembered by subsequent generations. Many of you who are reading this post were in first or second grade at the time of the Great Recession of 2008.
Is "The Great Recession of 2008" something you have heard of?  If so, what do you know about it?
If not, and you haven't already looked it up, ask friends and family if they have heard of it, and if they have, ask them what they know about it.  Did the Great Recession of 2008 teach us anything?

Do you think the historic events that took place around the time you were born have had much impact on the contours of your life?

9 comments:

  1. I researched “The Great Recession of 2008” for an essay over school funding last year. While examining the catastrophic event I learned that educational funding plummeted and has taken years to regain the original funding amount from 2008. I feel like the 9/11 bombing has shaped the contours of most American’s lives whether they realize it or not. This event has led to not only strict airport security but also how many Americans define terrorism and the justification for violence towards other countries. While most of us in this group were too young or not even born yet to remember this event adults, mainly teachers and guardians, have shared their memories and opinions on the matter which have influenced us all in some way.

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  2. I know that the housing bubble collapse was the start of the domino effect of the Great Recession of 2008, but beyond that I do not know much. I believe that it reinforced the thought of true ownership being king, not getting a loan or financing. Before 9/11, my Mom recalls being able to travel to Canada and back easily and very frequently. It became much more difficult to travel between the two countries after each shored up their borders and instated strict policies that must be followed.

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  3. I think that the events that have had the impact on our generation are things that we cannot see. For instance, the invention of the smart phone was a great technological advancement. Personally, it is hard for me to understand how the world would function without it. We were born right at the turning point of the century, and can only imagine what life was like before. It is extremely evident to see the affect that smart technology has had on different generations. My generation has no problem maneuvering an Iphone, apple watch, etc. On the other hand, our parents and grandparents sometimes have difficulty with the simplest of tech. We never think twice about it, while they see it as an obstacle to overcome.
    The same could be said about the after affects of 9/11. Security was revved up in all areas in the United States. When I walk through the airport and have to go through the metal detector and have my bag checked it does not strike me as odd. When a person a few generations above me goes through the same thing, they feel inconvenieced and become suspicious. Even though the historic event of 9/11 occurred when I was too young to know what was going on, I can still clearly see the lasting changes it has had on our society.

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  4. I think that the events that have had the impact on our generation are things that we cannot see. For instance, the invention of the smart phone was a great technological advancement. Personally, it is hard for me to understand how the world would function without it. We were born right at the turning point of the century, and can only imagine what life was like before. It is extremely evident to see the affect that smart technology has had on different generations. My generation has no problem maneuvering an Iphone, apple watch, etc. On the other hand, our parents and grandparents sometimes have difficulty with the simplest of tech. We never think twice about it, while they see it as an obstacle to overcome.
    The same could be said about the after affects of 9/11. Security was revved up in all areas in the United States. When I walk through the airport and have to go through the metal detector and have my bag checked it does not strike me as odd. When a person a few generations above me goes through the same thing, they feel inconvenieced and become suspicious. Even though the historic event of 9/11 occurred when I was too young to know what was going on, I can still clearly see the lasting changes it has had on our society.

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    Replies
    1. I agree with you. Things we see as normal in our generation are actually impactful events. The mobile phone, automatic trains, even thing as little as building design and structure are things that will be studied by he next generation. These little steps are pacesetters for posterity. The first smartphone was released few years after i was born. And i have seen it as a way of life. I never got to send mails by sea to communicate with family and friends and that is a huge change.

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  5. As I grew up I knew of the recession and that it hurt our economy, but nothing else. The biggest problem that my dad, a banker, remembers is that the top five banks had too many subprime loans, which are susceptible to loss, without enough capital to back it up. So by my understanding they lost too much money, which had a domino effect on smaller banks and the economy. Events like 9/11 and the iPhone, have influenced my current life in multiple ways, because of these events there are Air Marshals on almost every flight and technology is everywhere.

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  6. Whenever I think about the Great Recession of 2008, I remember conversations between my parents and other adults about the bad economy and how Americans were suffering at the hands of greedy corporate executives. I understand now that large banks approving loans that prone to loss ultimately caused the crash of the housing market. This in turn created an enormous negative impact on the economy and the taxpayers of the United States.

    When great disasters occur, they tend to shape our history by teaching us something. For example, the Great Recession of 2008 reinforced the idea that it should not be easy to come by credit or large loans.

    Tragedies like acts of terrorism, and advancements like the rise of the internet, have affected those who have grown up around us. The ease of access to technology has made life easier in many ways. On the hand terrorism and acts of violence have made fearful to go to airports, schools, churches, movie theaters, etc.

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  7. I remember the Great Recession. Even though I was only 6 years old, I would watch the news with my dad. I remember thinking,
    "What the heck? I don't get it."
    I still don't understand how the economy could get so terrible. I thought it was fake. My parents had our house built in 2008, so I truly believed it was a lie. I remember Obama becoming president more than the Recession. I remember my 7th birthday party in my brand new house more than the Recession. Yet it's still talked about in news today. I wasn't born when 9/11 happened, but the first time I flew I had to feel the lasting repercussions of it. Google was already a big thing when I first used a computer, so I can't imagine my life without it. Every major historical event, even if they happened before I was born, affected the way I and my family do everything. The recent educator strike in Oklahoma had an effect as well. My junior year, I had more resources at school than I'd had since the second grade. No matter if it was a negative or positive historical moment, it will always affect things in your life. Even the little things.

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  8. I do not remember a world before 9/11, because I was a year old. However, we still feel the lasting effects of that terrorist attack to this day. I remember going to Walmart after school on a Friday and seeing countless red shirts, as it was "Red Shirt Friday until the troops come home." I remember going to school on September 11th and watching the same footage of the planes flying into the towers over and over, to memorialize those who died because of hate. It has drastically affected the world we live in, which is why the generational gap between millennials and Gen Z feels so wide. My Gen Z childhood was defined by 9/11, whereas a millennial's childhood was reshaped by it.

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