It is inevitable the next market bubble burst will be bigger than the last one because of economic growth, University of Maryland economist Peter Morici told Newsmax TV.
During an appearance on "Newsmax Now," Morici explained the natural process of how economies grow and contract.
"As the economy grows, as globalization increases, whatever bubbles we have are always bigger than the previous bubbles," he said. "The size of the debt that will be out there the next time we have a bubble and it bursts will be bigger than the last one.
"Now, whether that will be enough to cause the kind of economic calamity and recession that we had is another question. But we have had bubbles going back to the beginning of industrialization in markets and business cycles."
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There has been concern in economic circles the strong economy is at risk of collapsing. Former Republican congressman Ron Paul, for example, recently told CNBC the economy is too heavy with debt, and it could collapse and chop the stock market in half.
White House economic adviser Larry Kudlow, on the other hand, said Wednesday the economy is looking strong and "there's no recession in sight."
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