A Dangerous Combination: Bubbles and Debt

A Dangerous Combination: Bubbles and Debt

I still remember that day in the spring of 2000. I was sitting in my dorm room at Stanford University when I heard people shouting in the hall. It turned out that all the commotion was about the stock market crashing -- in particular, technology stocks. In fact, it had been crashing for days, but only now had people decided that this was The Big One.

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