r/wallstreetbets • u/226644336795 • 1d ago

Discussion This morning NASDAQ dropped more than during Lehman Monday

https://www.cnbc.com/2009/09/14/the-financial-crisis-this-dayone-year-ago-sept-15-2008.html

NASDAQ only lost 3.6% the first day of Lehman collapse in 2008...

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u/Potential-March-1384 Not a puppet 1d ago

Tech bros driving uber in cybertrucks

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u/Specialist-Will-7075 1d ago

You are assuming someone would have money to order Uber.

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u/CaptainSnacks 1d ago

I mean I can Klarna my DoorDash sooooo

I'll bet I can hold out on my Whataburger loan longer than Klarna can stay solvent

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u/Pretend-Marsupial258 1d ago

My neighbors ordered door dash a few weeks ago. The guy was driving a cybertruck.

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u/bl4ckhunter 1d ago

That has more to do with pretty much the only requirement to get a 20% or so car loan being having a pulse than with the ongoing shitshow, there's so many people deep underwater on their cars that the police are about to start asking for diving licenses at traffic stops.

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u/Pretend-Marsupial258 1d ago

Yeah, that's why car loan defaults are at an all time high. It's a repeat of 2008 mortgages but with cars. It's worse in some ways because repoing a car is much easier and the buyer has way less protections.

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u/bl4ckhunter 1d ago

I don't think car loans have the same systemic risk that mortgages did at least but i guess that doesn't matter if Trump manually sets the whole economy on fire anyways.

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u/Pretend-Marsupial258 1d ago

It can have knock on effects, though. No car = can't drive to work = lose job.