Isn’t this just the natural result of a boom/bust cycle? Why does everyone panic? The world’s not ending, as far as we know. It’s like gorging at the buffet, then complaining cuz there’s no more food, when you know they’ll make more. Just not until people walk off what they already ate. What’s the big deal?
It’s a natural thing for sure.
When anyone can buy a 700 000 $ house without additional securities and no own money it’s time for a cycle to end.
Unfortunalty the money printers shelled out so much money in the past, that the next downcycle might cost a lot of jobs, wealth and last but not least the ability to pay for war.
Bushonomics.