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Posted on 5/20/26 at 7:29 am to THRILLHO
quote:
2010/11 was brutal.
Luckilly, I was insulated in grad school when it hit, so I didn't feel it until after I graduated. I didn't get a raise for a few years, but kept my job.
This post was edited on 5/20/26 at 7:30 am
Posted on 5/20/26 at 7:37 am to Chastains
Mood was gloomy. Economic shocks and devaluation everywhere you looked. Net worth cut in half thanks to stock market implosion from mortgage-backed securities etc toppling financial system. Halfway thru 30 year career that led to major reorg and was anything but certain.
Survived. Most importantly, kept investing regularly through that trough in economic bubble burst / cycle.
Retired this year, and I estimate up to 20% of today’s nest egg came from our continued investing during 2008-10.
Learning: long term thinking wins! When people are running from stock market, discounts are ripe like it’s Black Friday.
Survived. Most importantly, kept investing regularly through that trough in economic bubble burst / cycle.
Retired this year, and I estimate up to 20% of today’s nest egg came from our continued investing during 2008-10.
Learning: long term thinking wins! When people are running from stock market, discounts are ripe like it’s Black Friday.
This post was edited on 5/20/26 at 7:53 am
Posted on 5/20/26 at 7:40 am to Chastains
Once I moved out to California and talked to people out here, I realized we didn’t have it bad at all in the New Orleans area.
Katrina money was still being dumped into the New Orleans area.
The 2008 recession is talked about out here almost like Katrina is in Nee Orleans.
I don’t know anyone back home that lost nearly everything in the recession. I know people out here that literally lost everything.
Katrina money was still being dumped into the New Orleans area.
The 2008 recession is talked about out here almost like Katrina is in Nee Orleans.
I don’t know anyone back home that lost nearly everything in the recession. I know people out here that literally lost everything.
Posted on 5/20/26 at 7:41 am to BigNastyTiger417
this, plus 2010/11/12 were real rough
Posted on 5/20/26 at 7:45 am to Chastains
quote:
2008 recession
Malveto.
Posted on 5/20/26 at 7:52 am to Chastains
I wish I could have afforded to buy a condo in Destin back then. They were practically giving them away compared to today's prices.
Posted on 5/20/26 at 7:54 am to biglego
quote:
2008
The beginning of peak Third Street in downtown BR. Bars and restaurants were opening and it became a burgeoning street. Great times and was usually very busy on weekends. The potential and momentum unfortunately ran out of steam around 2015 or so.
Posted on 5/20/26 at 7:56 am to Cool Hand Luke
quote:
condo in Destin
Sure it’s a great deal until you pay $1500 a month in HOA fees along with $15,000 a year in flood and condo insurance.
Posted on 5/20/26 at 8:05 am to Paul Allen
quote:
The potential and momentum unfortunately ran out of steam around 2015 or so.
I remember the Alton Sterling protests, the August flood, and the police shootings in 2016. These led to Broome’s election as mayor that fall. 2016 was the year the wheels completely fell off in Baton Rouge.
One of her opponents in the race, John Delgado, who attempted to initiate a recall petition against her, was a partial owner and public face of several bars downtown. In retaliation, in 2017, Broome started enforcing open container laws on 3rd Street arresting bar-hoppers in front of his establishments. 3rd Street was officially over. Covid buried the dead. It’s a hollow shell now.
This post was edited on 5/20/26 at 8:06 am
Posted on 5/20/26 at 8:15 am to Chastains
It was pretty unremarkable here for most. Good times, even, if you had anything to do with oil and gas. Places like Houma were absolutely booming.
This post was edited on 5/20/26 at 8:16 am
Posted on 5/20/26 at 8:16 am to YeastExtract
quote:
2016 was a not so great time. Coming off of oil selling off in late 2015. First time I experienced seeing people getting let go.
Oil and gas service company
We laid off 80% of our field hands in first qtr 2016
Posted on 5/20/26 at 8:24 am to Chastains
i was just starting out then and I didnt find things bad in the Lake Charles area at all really. Built a house in 09 and overall I didnt notice much of a blip.
Posted on 5/20/26 at 8:28 am to Chastains
Busy as ever working for Halliburton during that time.
Posted on 5/20/26 at 8:29 am to SallysHuman
quote:
Food went up, sundries, electric and gas, actual gasoline.... it was brutal.
I'd say it was worse then. Or it might be we are just better insulated this time around.
2008 didn't affect me much at all. I've never seen a rate of inflation as bad as the past few years.
Posted on 5/20/26 at 8:29 am to Chastains
Not as bad as it could have been because a lot of jobs were still propped up from Rita and Katrina rebuilding
Posted on 5/20/26 at 8:32 am to Chastains
I was in the oil and gas industry. It got hit a little, but it wasn’t bad.
Posted on 5/20/26 at 8:33 am to Jim Rockford
quote:
Travel ball kids played rec ball and were glad to have it.
LOL
Posted on 5/20/26 at 9:15 am to Chastains
In the 80's I was in middle school the oil bust was bad. If I had 20K I could have bought a used work over rig.
Posted on 5/20/26 at 9:16 am to Paul Allen
Well you pay that regardless. Might as well buy it at a lesser price. C'mon, even you knew that.
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