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marcosdumay
7 days ago
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US private credit defaults hit record 9.2% in 2025...
I think the GP is trying to say that oil prices where the nudge that pushed the bad loans and derivatives out of stability.
I don't remember oil getting expensive back then, but it's a long time ago.
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naijaboiler
7 days ago
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it did. GFC was a financial recession no doubt, but oil prices was one of the final things that tipped everything over. Oil prices climbed high, slowed economic activity a bit, and the whole financial that teetering just collapsed.
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I don't remember oil getting expensive back then, but it's a long time ago.