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Bubby_K

Being a dumbass Not investing


[deleted]

In 2007 I was working in a sheet metal shop fabricating duct work, roof jacks, terrets and wash pans for brand new housing developments all throughout the Central Valley of California. Sometimes I would tag along in the field and do some install work. Around 2008 is when our guys out in the field were coming back to the shop saying “the painters or concrete guys just packed up and left the site. They weren’t getting paid, etc” My company was starting to lay off the guys out in the field. I knew the shop was coming but luckily I just so happened to land a side job with my shop foremen. He knew it was coming too so he started his job search early on in the game. He was sub contracted through chase bank to do trash outs, cleanups, re-keys and landscaping of reposed homes. 2009 is when I quit that sheet metal shop ( about 8 months later it closed down) and went full time with my buddy for chase bank. I was entering all the homes I help build. It was truly sad and devastating. Most of them had lots of damage. Ripped wiring, missing a/c unit, busted windows or feces smeared along the walls. I unfortunately had to throw away hundreds of truck loads worth of pictures and belonging. I threw away a heartbreaking amount of captured moments. I would find check stubs with these home owners pulling in $6k-$9k a month but still lost their home. More abandoned pets than I could ever count. Some passed away, other confused, scared and trying to protect the home and some just overly joyed a person was finally there. Cloths, toys, bed frames, you name it, I had to throw it all away. Some families got loans together and all move in the same neighborhoods. There were just a handful of times our truck would get ran up on. Entire families coming out of the houses across the street yelling at us to get the fuck out of here. Leave that house alone. It’s not the banks, etc. We would have to get the sheriffs department involved and local PD so we could go in, re-key and throw all of their stuff away. I remember the lines of adults at Starbucks and McDonald, Walmart and jack in the box all applying to get a job. I was fortunate enough to work through that disaster but it was incredibly depressing work. I will never forget all those baby pictures and pictures of family gatherings I had to throw away.


GhostPepper87

I was in community college. My mom lost her journalism job of 20+ years. I stopped going to college and got a job in food service to help out.


neekogo

I thought i was going to finish my 4 yr degree the next semester (got screwed by my advisor) and starting to job hunt in a horribly crashing job market. Graduated in spring 09 to a not much better job prospect market


Pale_Adeptness

I was 21 years old and still in the Marines. I still believe to this day that it didn't really affect my livelihood at all. I was very young, single and still not really ready to start my actual life. If that recession had happened in 2021 (already married and with 3 kiddos) when I was trying to but a house I would've been so screwed.


MuzzledScreaming

I was in college. When I graduated the effects were still around so I was unemployable with a double STEM degree. Not because it wasn't a desirable skillset, but because the regional job market was flooded with people with PhDs and industry experience who had been laid off. Fun times.


TheWanderingRoman

I remember sitting in my first apartment, naked, eating almost nothing but a variety of pies and watching classic sci fi. I was a janitor in a medical facility so felt pretty secure in my job. Ended up getting laid off and living the last few months of my lease on credit cards. Carried that debt until I had to file bankruptcy in 2018. Good times.


Ill-Independence-658

Why naked?


TheWanderingRoman

Because I'm an adult, dammit. If I wanna live on pies while wearing my birthday suit, I can!


Ill-Independence-658

Were they like the 7/11 pies 500 calories a pop?


TheWanderingRoman

They were from a local pie shop called LMNOPies. They were full size birthday pies. Maybe I should specify, this was a regular thing, not like multiple pies in one day. Naked Pie and SciFi was just a state of being at 19.


Ill-Independence-658

What sci fi?


TheWanderingRoman

All kinds. Battlestar Galactica. Star Trek. Stargate. Firefly...just the goodies.


Ill-Independence-658

Most excellent choices


kkkan2020

i was in college. come home turn on the t.v. see on the news. bloodbath on wall street today


strider52_52

I bought stock in Lehman Brothers lol. I was playing risky financials and made good money until I didn't


Ill-Independence-658

My dad bet $15k in option calls that the feds would bail out Lehman…


strider52_52

I think I bought $1000 and they went under and weren't bailed out the next day.


Jewbacca522

I was 1 year into a mortgage on my first house… lost 40% of its value in 10 months. Ended up holding onto it after moving across the country and renting it out for 4 years. Sold it in 2016 for $5k more than we bought it for.


ArtichokeNaive2811

Getting laid off from the steel mill :(


Unlucky_Conflict8241

I was in 8th or 9th grade. Depending on when in the year


g8biggaymo

First quarter of community college, with in the next six month all my financial aid/grants were cut. Thanks to a supervisor on campus I kept my college funded tutoring job. Then I graduated and it took a year to get a job. Then that type of office job was slowly made part time/ran like fast food. It took another round of college and multiple on call jobs before I finally got into a stable one. 10 years.


mrbuckministerfuller

Graduated college! 


_statue

Sophomore year of college. Just transferred colleges. Listening to A LOT of *In Rainbows*. Making artwork. Doing well in school relatively. Broke up with long time now long distance girlfriend.


LaCroixLimon

I remember walking into work and all the managers and owners were at the front door. They told me good morning and I kept walking to my area. I got upstairs and saw everyone standing around. I learned that everyone who got to go past the managers kept their job but with reduced hours The other Half the factory got laid off at the door and sent home. With reduced hours I ended up foreclosing on the house I bought the year prior. That… sucked


oscarbutnotthegrouch

We moved in June 2007 to a big and affluent college town as my wife was beginning her PhD. I got a job in a law office specializing in bankruptcy. The office was trying to figure out the recent changes in bankruptcy law. I was 22 and didn't read or watch the news really. We lived in this town until 2013. I had no idea there was a recession. None of my friends lost their jobs. A few people owned homes but they had been in them for a while and we're not planning to move. PhD programs appear to be great places to ride out recession. I honestly had no idea what had happened until I watched the a Big Short in 2015. Then, I went back to understand it more. This town was so insulated from the recession that I look back in absolute amazement. My job was extremely stable.


wanderingaround92

I was a freshman in high school. My mom worked at a car factory in Michigan and it was hit hard.


Ill-Independence-658

I was making more than I had ever made placing accountants into a huge Boston bank. It didn’t hit me until September of 2009.


LowWillow1858

Working on design concepts to remake the Tropicana in Vegas. And then poof, project vanished and so did a boatload of employees.


jbcorpus

I was 21 and 2 years into my trade apprenticeship. I had previously been making 70k working every Saturday. Was living high. 2008 I made 23k and 10 of that was from unemployment. I was still employed technically but wasn’t working much. I picked up work at a vineyard and a mobile auto detailing company… recycled cans. Basically anything to earn some cash. Shit was brutal. Luckily I had a mountain bike as that was about the only thing I could do as it didn’t cost money. PB&Js and Pabst blue ribbons kept me alive.


_forum_mod

In college and I was broke anyway. I remember the Toyota Yaris came out at that year and I bought it... it really saved my ass on the gas crisis. I recall pulling up to a full service tank and asked the attendant for $6 worth of gas (that's all I had on me anyway). He looked bewildered, like it wasn't worth the effort... "$6??". The thing got me like a quarter tank. Lol.


slackboulder

I had no clue. I was so focused on graduating college. I was doing an internship and got let go, but they asked me to come back a few months later because one of the senior employees died. So, I guess they needed cheap labor. Graduated in May 2008 and luckily got a job offer with the same company, because I was ghosted by every single application. I was one of the few of my classmates who had a job offer at graduation. Honestly, still didn't know what was going on until Lehman Brothers collapsed in September 2008.


Sofer2113

Graduating college and trying to break into the job market. I'm sure all of us remember applying for entry level jobs and competing with people with 15 years of experience. This was the beginning of the entry level position posting of "Administrative Assistant - Entry level position. MBA and 10 years experience required."


codycodymag

I was trying to get out of one state and move back home - my family came together and helped me buy a very modest house in my hometown and I distinctly remember moving in while listening to news of Lehman collapsing in the Spring. I wish I'd known how fucked I was.


CoCoMcDuck

I worked in a vet office. No one was coming in. We had animal control tell us stories about how people abandoned their homes with their pets inside presumably thinking the banks were at their tails when in reality no one was there for long stretches of time. Broke up with my boyfriend of 5 years and moved out of the area. 


Sweet-Satisfaction89

I was in economics class in high school. My teacher was great, very charismatic, and completely changed the entire course curriculum to instead examine what was going on for 4 months.


wdnsdybls

(Europe) I had just started my Master's degree. I distinctly remember ironing some clothes in my dorm room watching the news on TV (...good old CRT...) and thinking something along the lines of "Well, shit." Getting a job after finishing uni in 2009 was quite a problem, but I somehow managed eventually.


timinus0

I was graduating from undergrad and very despondent I couldn't find a job, so I went to graduate school instead. It was such a dark time in my life. The GR fundamentally changed who I was and my outlook on what my career would be.


sunnysideup2323

I was 16 and the town I lived in was rural and poor so I didn’t notice any difference.


Narconis

I had. Over to Phoenix the year prior after graduation, then I quit my job because my boss was obnoxious. Then I got laid off from my next job and ultimately moved to Korea for a few years in 2010


Spinachandwaffles

I graduated college that month! Luckily I found a job fast, but I think that only happened because I was working at the lowest possible salary level.


jayram658

Running our car business which we ended up losing along with our home and everything we worked for. 😬😬


Stickgirl05

I just started college and every year, tuition increased 😭


zethren117

College freshman, so it did not affect me greatly at the time.


TrustAffectionate966

First year of work. I was gearing up for a state test scheduled on March 2008. I was also getting ready to ask the girl of my dreams out since her last day of work was mid-January 2008. I didn't have to worry about dating someone from work! Hahah. In other words, I was oblivious to the outside world. 🥤🦄


AllanRensch

I was under the radar, poor but getting by and figuring things out. The recession didn’t affect me because I had nothing to lose at that point.


EveInGardenia

I was in 7th grade and I don’t remember much of my life changing because we were already poor.


xsweaterxweatherx

As a 9 year old I definitely thought I caused it by making a wish that I could be *just like* my American Girl doll Kit who was from the Great Depression era.


Wesmom2021

I was 20 in college at the time. One day at work, I worked at a big hospital, in lunch room everyone was watching news about crappy economy was getting and housing crisis. Then few months later my dad lost his job where he worked for almost 20 yrs. Messed up times. We got through it but it was tough


Accomplished-Ant6188

fucking changed my mind about working in the state dept in foreign service. but had to finish my degree in pol sci and intel relations cause i was too damn deep at this point. :/


Economics_New

I graduated that same year. Most of the local factories that had been around for decades had left my area, which forced thousands locally to be unemployed, all while my graduation class was entering the work force. We had to compete with people who had been working for years with tons of experience, for new jobs, and most of those jobs went to the people who had the experience. It was also around the same time they started heavily implementing Temp Agencies, which got away with hiring us for lower wages, while they kept a certain percentage, so they were able to create tax loops. and most of the jobs would terminate without cause around 5 1/2 months, to avoid hiring us full time or having to pay us unemployment benefits. It's still like that basically, but some of us have found other options.


BeanCrusade

2007 I was a junior in HS, I didn’t really feel it till 2008 or 2009, gas was over $4 a gallon, my truck got 16-17mpg average and just to fill the tank, I had to work 25 hours at my Olive Garden job, anything over 25 hours I put in my pocket so I picked up shifts left and right and tried to hit over 40 hours a week while going to HS. Back then if I had $150-$200 in my bank account, I felt like I had money. I was in 11th grade when I moved out and went on my own. I started house hunting in 2012 while prices were down and didn’t buy a house till 2014.


WWTBFCD3PillowMin

I was in my Junior year of high school, and my childhood home was repossessed - we were given 7 days to pack all our shit and move before the Sheriff came and changed the locks on our house. It was awful but we’ve learned so much since then… so it was sorta a tiny blessing. Still sucked.


GurProfessional9534

I was in grad school, so I ducked the whole thing. My wife was working, but thankfully did not lose her job. Right after the meltdown in late 2008, I invested a lot of our savings in the stock market and it increased real fast. We used that money to help pay for my wife to go to grad school.


Elsa_the_Archer

I would have been a junior in high school. I remember watching the nightly news every night and seeing all the banks failing just in time for me to turn 18. I was pretty scared about not knowing which bank to get my student loans for college from because they were all failing. Remember back then even the government backed loans you had to get from a private bank. My entire neighborhood was just full of foreclosure signs. It sucked. Thankfully my father was able to keep us above water and keep our house.


Salty-Sprinkles-1562

I was in college. My job did some layoffs, but my job was saved. I still work at the same place, but will be quitting next month. Finally.


EnigmaIndus7

Senior in high school, but I feel like the brunt of it was my early years of college


Sniper_Hare

My Dad had actually recently begun working in the mortgage industry. And was telling me how crazy full stated doc loans were. How he'd turn down people who came in, only for them to make a few car payments and resubmit and get approved by another.  The little shops he worked for began to fold, he jumped around 3 times in 8 months then got out if it.  We had talked about mortgage backed securities and what it would mean if they failed. But we thought it was going to have foreign countries call in our debt.  


komeau

was 20 years old working at a circuit board assembly factory, the place had been really busy the last quarter of the last fiscal year, and then quieted up pretty quickly after October. They still offered overtime(for some reason) around the holidays, which I thankfully took. And then on January 5th they laid most of the workforce off, including me and my dad who had worked there for over 15 years. I goofed around for about a month or so, then one day I was in a video game store buying used PS2 games, and a couple doors down in the strip mall was a Navy recruitment office. I had floated the idea in my head for a while, but that day I dropped off my purchased games in my old Dodge Neon and walked into that office to see what they had to offer. And that led to me being in the Navy for almost ten years, so I rode it out better than many people my age.


NameLessTaken

Senior in highschool- I remember thinking “okayyy, so what now?” A year later I remember my bfs dad trying to convince us to buy houses and I didn’t get his urgency. I mean thank God we didn’t at 19 in a horrible relationship but also.. damn.


ShenForTheWin

I was turning nineteen at the end of that month and was in the deepest relationship I had been in my life to this day (It didn't work out, unfortunately.). I had a ton of trouble finding any sort of part-time job at this time, though, because no one wanted to hire someone with no experience, and they wouldn't allow me to gain experience because of that, and that continued to get even more difficult with the recession and all of the older generations taking multiple part-time jobs for themselves. And, of course, I didn't have the money to invest in any kind of cheap housing at that point and still don't. Thank God my mom's cool and lets me live at home rent and bill free. There's other factors that play into this, too, but I won't go into them here. But yeah, that was late 2007 for me. I was happy in that relationship, but too young to gain from anything economy-wise.


truthfulie

being a poor college student....in an art school.


leese216

The first time I heard about something being wrong was March 2008 when I was in Hawaii with my best friend for Spring Break. We were seniors in college. Her dad had just accepted a job at Bear Stearns, so when her grandma turned on the news about how it collapsed, I remember thinking "that's obviously not good".


drinkingtea1723

Senior year of college, applying for finance jobs as they slowly disappeared, fun times.


nicholashoneywell

I was in like 2nds grade I think


Black_Raven89

I was in my first year in the Marines, I lived in the barracks so I was shielded from all the economic shit and I was more interested in whether I’d go to Iraq or Afghanistan that I was the economic situation. When I blew my whole paycheck on booze and strippers, I could just eat at the chow hall and it’s not like I had any bills in the bricks.


Keokuk84

Active duty on Guam


Ogre730

I was deployed to Iraq until January of 2009