Home-equity loans peaked months ago. Bond yields are rising. There is a record rate of corporate bond defaults and a near-record level of personal bankruptcies. The balance of payment deficit is scandalous. Wall Street economists are oblivious to record trade deficits that in any other age would chop the value of the offending nation's currency to a fraction of its former purchasing power.
Derivatives are subject to an accident.
There are approximately one hundred trillion dollars in derivatives. It's not impossible in a crisis for cascading numbers of derivative problems to unfold. Rising interest rates. Interest rates impact heavily the profits of publicly-held corporations. They also raise the cost of borrowing to invest.