This weekend will mark the fifth anniversary of the collapse of Lehman Brothers. Once a global juggernaut of the financial services industry, Lehman’s epic failure precipitated the start of the Great Recession, finally pulling the wool off the eyes of countless traders, lenders, securities firms and poor saps who thought simply working hard and establishing a retirement nest egg was a good plan.
After that fateful day, September 15th, 2008, we watched our country, along with the world at large, slide into a protracted period of painful financial constriction: investment portfolios shriveled up, homes fell into foreclosure and once mighty companies either shrunk or shut their doors entirely, driving hordes of people into jobless despair. But half a decade later, we’re coming back, baby. Big time. And here’s your proof.
5 The Stock Market Is Surging
4 The Housing Market Has Rebounded
3 The Auto Industry Is Cruising
2 The Unemployment Rate Has Plummeted
1 The Conversation Has Shifted
In the grips of the Great Recession, the recession was all anyone could talk about. Water cooler chatter in offices revolved around fear of losing jobs, homes or both; pundits from both extremes of the political spectrum railed against the ideas and actions of their ideological foils; and every night, the news was on ceaseless cycle of economic doom and gloom. Today there is still plenty of doom and gloom in the media, but it centers around foreign wars, NSA snooping and suggestive celebrity dancing.
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But the end of the Great Recession might be even better news for the 5 Most Indebted Countries.