It has bubbled and burst a few times since then, the difference is that it did it on a regular predictable wave at a lesser level, whereas now it is a manipulated system which makes it hard to predict when it will burst, everyone knows that it will but when is the question.
I remember reading an article about 30 years ago when the writer compared Australia with Argentina and stated that we would follow them in having a much more volatile economy as time went on.
As the swings/bubbles get bigger they will have a bigger correction
