The last few bubbles only popped partially, with the governments (mostly the US, but not exclusively) moving fast to save some companies involved, at a high cost to tax-payers that immediately inflated some other bubble to take their place.

That means that in reality we didn't get any single actual bubble pop since the end of WWII. That may happen again this time, or maybe it won't. The amount of money running around is looking like something the governments can't save, but I did think the same in 2007.

Anyway, no financiers and entrepreneurs never know what to do with a black swan.