Peter Zeihan || Financial Crisis of 2023

A financial crisis is a term used to describe a situation where the financial system or a part of it, such as a specific industry or a country's economy, experiences a severe downturn or collapse. It can be triggered by a variety of factors, including but not limited to, economic imbalances, high levels of debt, a burst of asset bubbles, or a major financial institution's failure. Financial crises often result in widespread economic hardship, including job losses, bankruptcies, and a decline in economic activity. Governments and central banks may intervene by implementing policies such as bailouts, stimulus packages, and regulatory reforms to try to mitigate the crisis's effects and stabilize the financial system.