During the Dotcom and subprime crashes, the federal government had some semi-compentant beaurocrats to mitigate the effects and speed recovery. There was also multiple countries that worked together to mitigate the issues.

Today the AI bubble is much more massive than either of the previous. All of the fundamentals of the economy are weakened due to trade wars and international cooperation is unlikely. The effective beaurocrats have been laid off due to doge and other shenanigans.

So it's going to be bad, like really, really bad.

I think this one might take down the US dollar tbh.

Bessent is way out of his depth.