/biz/ - Business & Finance

>>17985079
The depression was going to happen anyways. The market was more over-valued than the dotcom mania of the 2000s. People were up the their eyeballs in debt and the only way they could keep buying shit was to go deeper into debt.

What we're seeing is a 1930s style debt deleveraging. It was delayed after the 2008 crash by the government bailouts and QE, essentially using debt to pay off other debt. That's not really possible anymore since the interest rates are at zero when the crisis began.