Prior to the 2008 crash experts expected the world to continue in the manner in which they were accustomed. This didn't change until they were well past the edge of the cliff.
It wasn't housing itself that caused the 2008 bubble. If it hadn't been housing, it would've been somewhere else that easy credit was flowing to.
The continuing rise of debt that cannot be paid back was at the heart of any crisis. A bubble pops when people wake up and realize that the debt can never be paid off.
Then, credit is removed - and because easy credit was the main thing causing the run-up, assets collapse.
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Business Administration and Management Student | Blockchain, DEFI & Web3 | Social Worker | "Fix the money & fix the world."
In this brilliant book, Jeff Booth explains his vision of the near future with the influence of technology on it.
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