The worldwide economic crisis and the end of a credit bubble did...
It was not just a housing bubble, but a global credit bubble.
This is the next stage of the credit bubble.
Germany and France avoided the worst of the credit bubble.
"We're in a credit bubble that is going to cripple the economy," he warned.
He created the conditions leading to the biggest personal credit bubble in history.
Their program is so large that it helps extend the credit bubble into 2007, thus making the crash worse.
As wealth grew from the proceeds of the credit bubble all boats floated a little higher.
I don't know what a credit bubble means.
The only thing that can be done is to increase the credit bubble, delay the bust and make it worse.