The aftermath produced a lost decade for European economies
and helped lead to the rise of anti-establishment political
movements here and abroad.
I was visiting family in Hawaii during the 1st Christmas after the financial crisis started. Guess what? The beach chairs around the pools at the Waikiki area hotels were packed with guests. Every single one of them. Note I went because family is there, and stayed with them.
Granted, some guests were probably there because they already had reservations made before the shtf moment came. Or maybe some there were just vacationing at Waikiki as they downgraded their vacation plan to more moderate level, instead of going to Maldives or something.
But the point is the rich were far less impacted by the crisis. And when the crisis slowly faded away, the rich swooped in and accumulated more wealth. Like all the foreclosed homes in US being bought up by rich folks to be flipped, or worse, bought to be rented out.
The rich were barely impacted by the crisis, and the crisis just turned into an opportunity for the rich to accumulate more wealth more easily.
Granted, some guests were probably there because they already had reservations made before the shtf moment came. Or maybe some there were just vacationing at Waikiki as they downgraded their vacation plan to more moderate level, instead of going to Maldives or something.
But the point is the rich were far less impacted by the crisis. And when the crisis slowly faded away, the rich swooped in and accumulated more wealth. Like all the foreclosed homes in US being bought up by rich folks to be flipped, or worse, bought to be rented out.
The rich were barely impacted by the crisis, and the crisis just turned into an opportunity for the rich to accumulate more wealth more easily.