Between 2000 and 2008, two of the largest financial bubbles in history - in technology stocks and housing, respectively, - suffered spectacular collapses. Opinions vary, but some market commentators believe at the peak of the tech bubble, total stock market capitalization exceeded 180% of US GDP. To put this in perspective, the tech stock bubble was over twice the size of the 1920's
After 1971, the United States was in a position very similar to countries like Britain that abandoned gold in the 1930s. In 1971, the US - like Britain in 1931 - was obligated to exchange its currency for gold. When Nixon closed the gold window in August 1971, the US found itself in exactly the same economic circumstances as Britain in September 1931, when Britain reneged on her gol
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