Hard to say, Steve Keen argues that the current &quot;global&quot; problem happened because of a slowdown in the rate of growth of private debt. Meaning that people borrowed less, but didn&#x27;t stop borrowing completely.<p>This then had a knock on effect where debt fueled consumption slowed down, thus various companies found themselves below quarterly projections etc etc etc.<p>in essence the various economies are running on razor thin margins, and even a bad quarter can set a panic in motion.