What exactly happened to cause epic global economic crash, Macroeconomics

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What exactly happened to cause epic global economic crash

Problem

Watch the two videos regarding the 2008 Debt Crisis. The first is a humorous excerpt from the show "Arrested Development," and the second is a VERY complete but short documentary on what, exactly, happened to cause this epic global economic crash. Wil we repeat this occurrence, considering current economic developments?

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Macroeconomics: What exactly happened to cause epic global economic crash

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