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@MedeaVanamonde @pndc @cstross and because people continually ask:

The only thing keeping '08 from being a total implosion was underlying assets. Houses are an underlying asset that got turned into predatory rentals.

'01, you had offices, IP, businesses that COULD work, and hardware to recover with. With much smaller holes to fill.

This time?
It's a literal Ponzi scheme. Basically all of the hardware is ewaste. There's no trillions in IP - not even millions. Just *trillions* in pure fakery.