The tech bubble has burst, cryptocurrencies are losing massively in value, and the looming recession is making investors everywhere nervous. Is that already the crash?
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Jan Diesteldorf and Markus Zydra, Frankfurt
People can learn from damage, but some professions struggle with it. The Harvard economist John Kenneth Galbraith, who died in 2006 and wrote a lot of clever things about the causes of financial crises in his academic career, attested to the “world of money”‘s tendency to complacency and, looking at the stock market traders, stated: “Failures in the financial sector will soon be forgotten.”