If this happened to bank deposits, it would be called a bank run.
Every time the crash starts the same. The problems start in markets that are opaque and non-regulated. Banks are now fine, the risks moved into private credit and shadow banking.
The US has between $1.3 and $1.5 trillion in private credit AUM. 70% of global private credit. It has expanded rapidly and the quality has decreased as it has been "democratized" and retail investors have access.
Is that good?
Do you like things that look like bank runs? If so, then yes.
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