I picked the 2008 financial market crash.
In response to hearing 'economists didn't pick the crash', I did . In 2004, I was teaching economics when I saw and recorded this program (below). I would show it to my students and spend the next four years being very unpopular with my friends and family, saying it's going to slide and the global economy will go with it. They would laugh at me. I am quite proud of that now. At the time, I had never heard of Austrian Economics, Peter Schiff, or Michael Burry. I argued that the crash was caused by the property wealth effect (illusion) and the elasticity of goods in the developed world: if the 'wealth' bubble popped, the elastic goods would dry up, and it would be over. Mortgage Madness (1/3): BBC2 - 29/10/2003 There is not a moment I don't think about the real slide coming. My current students don't know about 2008 where I live in Sweden, it was paved over; so I have to teach it as a kind of history lesson. And the current property market is