Real estate, tuition and race bubbles
The real estate bubble was caused by an artificial imbalance of buyers and sellers. Easy lending, dictated by government, led to too many buyers which caused prices to skyrocket. Poof.
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The college tuition bubble was caused by an artificial imbalance of students and easy lending to anyone who applies, allowing tuitions to skyrocket. Again, not because of natural market forces but because of easy money and the false belief that everyone must attend college. How many kids graduate with a worthless piece of paper that they cannot even begin to pay for?
The race industry bubble was caused by an artificial imbalance of real and perceived racism, allowing the easy extortion of cash by the grievance industry: "Give us your money so we can continue to pick at the scabs of racial healing and progress, or we'll call you a racist."
Some in the race industry have gotten rich under the false narrative that racism is the primary cause of black crime, poverty and under achievement. We know this is false. The Zimmerman trial and verdict, the reaction to it, and Bill O'Reilly's courageous talking points memo that exposed this hustle in a national forum, just might be the pin that finally pops that bubble. But only if the rest of us continue to speak out against the dividers.