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===Debt bubble=== A [[debt]] bubble<ref>{{Cite web |url=https://www.investopedia.com/articles/stocks/10/5-steps-of-a-bubble.asp |title=5 Stages of a Bubble}}</ref> is characterised by intangible or credit based investments with little ability to satisfy growing demand in a non-existent market. These bubbles are not backed by real assets and are based on frivolous lending in the hope of returning a profit or security. These bubbles usually end in [[debt deflation]] causing bank runs or a [[currency crisis]] when the government can no longer maintain the fiat currency. Examples are the [[Roaring Twenties]] stock market bubble (which caused the [[Great Depression]]) and the [[United States housing bubble]] (which caused the [[Great Recession]]).
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