2008 Financial Crisis vs 2022 Economic Downturn: Understanding the Similarities and Differences

No two recessions are alike. Whether or not the US economy is entering a recession is a topic that has been . In any case, the United States and the world economy are experiencing a time of significant stress, regardless of whether or not the National Bureau of Economic Research formally declares a recession. 

 

The economy shrunk for two straight quarters in Q1 and Q2 of this year, and the construction of new homes has also drastically decreased. A recent drop in consumer confidence and an uptick in layoffs have caused a great deal of concern. There is increasing speculation if we’re experiencing the next Great Financial Crisis. 

 

In this episode of The Free Retiree Show, wealth manager Lee Michal Murphy compares the differences between the Global Financial Crisis of 2008 vs. the 2022 economic downturn. Discover the difference in different areas of macroeconomic metrics. Join us as we evaluate the labor market, housing shortage, consumer sentiment, and more. 

 

What you’ll learn in this episode: 

 

• Differences between the volatility of 2022 and the Great Recession of 2008
• How to prepare in the event of a recession? 
• How strong is the real estate and labor market this 2022?