I didn't say the system collapsed. I said we saw deflationary collapses within the system. Look at the Panic of 1893, the Panic of 1907, and the Great Depress

I didn't say the system collapsed. I said we saw deflationary collapses within the system. Look at the Panic of 1893, the Panic of 1907, and the Great Depression. If that's not enough, there are several others.