The recession of 2008 was caused primarily by large banks handing out subprime mortgages.
For comparison, handing out subprime mortgages is the economic equivalent of handing a two-month sober drug addict a needle full of premium black tar heroin, while still expecting them to give it back to you in next week.
The risky, and some might say “greedy” tactics of the banks before and during the financial crisis of 2008, for some, called into question the legitimacy of these institutions.
Rightfully so!
The banks were in no position to hand out mortgages to financially unstable people, especially considering they knew these folks wouldn’t be able to pay them back. The recession still impacts us today. Billions were negatively affected by it, both in the United States and abroad.
The income of lower-class Americans dropped dramatically, along with housing stability and life expectancy. These statistics have only gotten worse.
However, there is a huge bright side to the 2008 financial crisis that no one seems to talk about.
As a result of the 2008 financial crisis, Starbucks finally got rid of most of those awful CDs and books that no one ever cared about.
Remember when those awful Christmas albums and hundreds of novels about “dystopian societies” cluttered entire Starbucks restaurants (is Starbucks technically considered a restaurant?)? People confused it with Barnes and Noble, like, all the time?
That was appalling, in case you don’t remember.
The financial crisis forced a lot of businesses to restructure. Luckily for coffee-drinkers, one part of the financial reconstruction for Starbucks was scaling back on all that crap.
Now, thanks to the greed of Lehman Brothers, Dick Fuld, and countless other criminals, you can now drink your dirt water free from the cluttered chaos that once terrorized coffee-drinkers globally.
Support your local union,
John Sullivan, Senior Political Editor & Union Representative for Bloodclot Films
