Point. The difference, as the article notes, is that government response to bubbles has varied. And strong enough measures have certainly decreased the severit

Point. The difference, as the article notes, is that government response to bubbles has varied. And strong enough measures have certainly decreased the severity of downturns. At this point in time there aren't a lot of remaining options, were the world economy to seriously get into trouble. (One reason it was asinine for the US to cut taxes and deficit spend in an economic expansion)