People love a good souvenir — apparently even when it commemorates an economic disaster.
A $180 hoodie with “2008 Global Financial Crisis” emblazoned across the front is sold out online. The black hoodie is also described as “hurt and mangled” with “extreme distressing” by a streetwear brand called Praying.
The sweatshirt’s sleeves reference December 2007 and June 2009, marking the start and end of the Great Recession.
Gen Xers and elder millennials undoubtedly remember the crisis much better than today’s young adults. It was a time when the US housing bubble burst, triggering massive losses for homeowners, Wall Street, and everyday investors. The crash led to the Great Recession, sending unemployment skyrocketing as high as 10% and creating a dismal job market for years.
However, for some Gen Zers, it’s something they only learned about in economics class — and, now, an opportunity to make a fashion statement.
Take, for example, NBA player Robert Dillingham, who was recently photographed wearing the hoodie. The point guard for the Minnesota Timberwolves was born in 2005, making him three years old in 2008.
Praying has been around since 2019, founded by longtime friends Alex Haddad and Skylar Newman, according to an interview the duo gave to Vogue Hong Kong in 2022. Since then, it’s been worn by stars like Megan Thee Stallion and Olivia Rodrigo. The founders compared their designs to memes and gave some insight into their inspiration.
“When these phrases are stripped of their original context and meaning, and printed on clothing and products on a large scale, they are transformed into a provocative message,” Haddad told Vogue.
The brand also sells other financial crisis clothing, including a jersey, polo, and a $72 “dirty tee,” which are all sold out.
As time passes from global events, they become more abstract, and thus memes and jokes are born from generations who were either too young to fully understand the seriousness or who weren’t alive at the time.
More than 20 years following the events of September 11, 2001, 9/11 jokes are more casual than ever, another example of how Gen Z doesn’t shy away from dark humor.
In response to the Timberwolves’ post that featured Dillingham wearing the hoodie, many people commented, asking where they could purchase it.
One social media user, though, replied with a still from “The Big Short,” showing Christian Bale’s portrayal of Michael Burry, who famously predicted the 2008 financial crisis. There’s a good chance many millennials and Gen Xers reacted to the hoodie with a similar expression.
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