Slide #3 - Historical example of bubbles begetting bubbles
In the 1980s we had the S&L crisis, which was bailed out by easy money. That bail out of the S&L crisis led to a Mexican debt bubble crisis. The bail out of the Mexican crisis led to the Russian and Long Term Capital Management Crisis bubble. The bail out of the Russian and Long Term Capital Management bubble led to the Asian bubble. The bail out of the Asian bubble and the perceived Y2K crisis resulted in the NASDAQ bubble. After NASDAQ lost 80% of its value, monetary and fiscal policies are creating all manner of global bubbles in housing, stocks, bonds, art objects, etc.