In a world of #capital gains, real estate bubbles and foreign adventures with #money, all notion of the real value of anything is lost. Uncontrollable asset inflation sets in while #debt mounts at a reckless rhythm; much of it to enter the casino. Thus grows the vast disproportion between paper #wealth and real wealth, between real profits or dividends and capital gains. But the #illusion cannot last forever and these tensions are bound to end in #collapse. This can happen in a series of partial crises in one market after another, in one huge #crash or a combination of both; however it happens, the #bubble needs to burst.
β Carlota Perez, Technological Revolutions and Financial Capital, p. 75
https://carlotaperez.org/wp-content/downloads/books/btr-en/PEREZ_TRFC_Ch%207.pdf