If, instead, the already lax lending standards had been further weakened (as they were after the .com crash in the early noughties), it is possible - not certain, but possible - that a new bubble could have been inflated to cover up the wreckage of the Coolidge bull market, the way "Bubbles" Greenspan and baby Bush covered up the .com crash with the subprime bubble.

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.