Why has the US had no systemic financial crisis since 2008?
AI summary
Since 2008, the United States has not experienced another systemic financial crisis, relying instead on sustaining asset bubbles and debt expansion: in 2019 the Federal Reserve shifted to cutting interest rates and lifted the cap on pension funds entering the stock market to prop up US equities, while US debt has exceeded $40 trillion. The Russia-Ukraine war and Middle East turmoil have left European and Middle Eastern capital with few places to go, so it has remained in the United States, and AI has become a new narrative for attracting global funds.
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