the popping bubble in the 2007-2008 financial crash that almost brought down the world's financial system.
The Federal Reserve was either lying or clueless.
https://seekingalpha.com/article/181774-fed-to-people-its-not-our-fault
The mainstream financial "experts" were obviously clueless:
Peter Schiff was right:
https://www.youtube.com/watch?v=sgRGBNekFIw
Krugman admitted the mainstream economists had been caught with their pants down and had no clue what was coming down the pipe even as the Austrians were jumping up and down and warning what was coming:
http://www.nytimes.com/2009/09/06/magazine/06Economic-t.html