It is strange how everyone seemed to agree that the credit/housing bubble that brought us to our knees in 2008 was the consequence of holding interest rates too low for too long…and then they tried to “fix” the problem by doubling down on the same policies that caused the problem to begin with.
The bursting of the current bubble (when it happens) has the potential to cause even more destruction than the 2008 bubble because governments and central banks around the world have used up most of their ammunition in an attempt to manipulate prices and grow this most recent asset bubble.
Too many people have no money left over every month because their #1 expense — housing — has skyrocketed over the past ~15 years, with only a few years of relief that came about as a result of the crash.
