At this time, all kinds of cats and dogs came out to tell all kinds of new narratives that could not be falsified for the time being. People who don't use leverage look more and more like pure fools*, Credit expansion eventually encounters a resource bottleneck, The incremental credit expansion cannot support asset price increases, Everything starts to reverse, first gradually, then suddenly Speculators encounter losses on their books, Falling asset prices lead to forced redemptions of mortgages, Speculators will try their best to delay or maintain an inflated market price But in the end, if the repayment cannot be repaid, it will be forced to sell and close the position. Strong sells lead to price slumps, triggering more strong sells and slumps, This is a vicious positive feedback loop

At this time, all kinds of cats and dogs came out to tell all kinds of new narratives that could not be falsified for the time being. People who don't use leverage look more and more like pure fools*, Credit expansion eventually encounters a resource bottleneck, The incremental credit expansion cannot support asset price increases, Everything starts to reverse, first gradually, then suddenly Speculators encounter losses on their books, Falling asset prices lead to forced redemptions of mortgages, Speculators will try their best to delay or maintain an inflated market price But in the end, if the repayment cannot be repaid, it will be forced to sell and close the position. Strong sells lead to price slumps, triggering more strong sells and slumps, This is a vicious positive feedback loop