Its the difference between an isolated incident and widespread problems over the entire economy. People making the mistake of buying an embarrassingly overvalued Facebook stock is different from a general stock market bubble.
It is true that on occasion a large number of people will collectively make giant mistakes, such as buying Facebook stock hoping to make a quick dollar. However, an extensive mismanagement of money by many millions of people, such as during the tech bubble or the student loan fiasco, is highly unlikely without the federal reserve or government policies altering everybody's behavior.
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