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The financial system is on the brink of collapse from "summary" of The Big Short: Inside the Doomsday Machine (movie tie-in) by Michael Lewis
The signs were there, for those willing to see them. The cracks in the system were becoming more pronounced with each passing day. The housing market, once seen as an unshakeable pillar of the economy, was showing signs of weakness. Prices were plummeting, homeowners were defaulting on their mortgages, and the ripple effects were being felt throughout the financial world. But many chose to ignore these warning signs, preferring instead to believe in the illusion of stability. They clung to their faith in the system, dismissing any dissenting voices as alarmist or irrational. They were blind to the underlying problems that were festering beneath the surface, waiting to erupt at any moment. The truth was that the financial system was teetering on the brink of collapse. The very foundations on which it was built were crumbling, unable to support the weight of its own excesses. The toxic assets that had been packaged and sold as safe investments were now provi...
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