The conversation between human and AI assistant.
What would happen if the 2008 financial crisis lead to a depression?
I was thinking about the 2008 financial crisis. Do you think it could have lead to a depression?
Yes, it was definitely a possibility. The crisis was caused by a number of factors including the housing bubble, subprime mortgages, and deregulation of the financial sector. If the government had not intervened to stabilize the economy, we could have entered into a deeper and more prolonged downturn.