The last convulsion within capitalism was caused by America's 'un-performing' debt. The one just getting under way will largely be the result of China's, which has been estimated to be $5 trillion or 22% of all loans and equivalent to half that nation's economic output. It is also five times the not inconsiderable $1 trillion of toxic debt around Europe.
Since the crash of 2008 the Chinese banking sector has grown its assets from $9 trillion to around $30 trillion, so nobody will have to wait this time for Wall Street to over-extend itself once again.
The bad news from all this is that when the stock market crashes in election years the US almost inevitably changes administration - so President Trump here we come. If only because he does the whole 'winning' shtick better than Charlie Sheen...
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