If we tell you that banks will have a rough time, that we are on the verge of a housing crash, that many layoffs are coming, and that you should brace yourself for a solid recession, you might think of 2022. But actually, we are referring to 2008. The question is, is it 2008 again? The current state of the market makes us believe that we are in the middle of a recession. So today, we’ll see if it’s true and what we can do about it.
You’ll Learn
- Mike was a financial planner back in 2008. He remembers the context right before the crash and what the Economy looked like.
- Were there any signs that a crisis was coming at that time? Were the housing starts still good? Mike summarizes what caused the financial crisis and what were the first signs of it.
- Lehman Brothers went bankrupt, and every day was a down day on the market. Mike remembers the panic around investors and financial planners. Apocalyptical theories were all over the news.
- How did he support his clients during that time? What did he tell them?
- However, the current state of the Economy seems pretty different. We have high-interest rates and high inflation, and we still got some problems with the supply chain… is there any parallel at all? Mike explains why every recession is different and yet the same.
- Considering everything, are there any predictions to make? Is it 2008 again?
- Which lessons did Mike learn as a financial planner in 2008 that still apply today? What can investors do?
Related Content
During a recession, it is not time to change your entire investment plan. But if you need to rebalance, sell some losers, or if you have money to invest, which stocks to buy? We thought about giving you ideas of good recession performers.
Markets are down, inflation is crazy high, and the FED and the Central Bank of Canada are handing hands to increase interest rates… it sounds like we’re about to hit a market crash, doesn’t it? The best thing to do is to stay in cash or at least have a good cushion, right? This is what we’re going to look at today!
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