What are bubbles & why do they always occur? Why can\’t we seem to learn the lessons of past bubbles?2. Why do bubbles always burst & cause financial crises?

Writing assignment is a summary of the movie Boom Bust Boom on Netflix.Requirements: five pages typed with twelve point font & one inch margins. References are not needed since everything you need to write the paper is in the film. Turn in the paper copy in lecture next week Thursday, giving you one week to write the paper. You also must upload the digital copy to Vericite (a plagiarism detection program) before midnight the same day.Your paper should address each of the following questions. Each will be worth 20 points, so now you have a rough grade rubric to work from.1. What are bubbles & why do they always occur? Why can\’t we seem to learn the lessons of past bubbles?2. Why do bubbles always burst & cause financial crises? Pay particular attention to the role of leverage.3. Use your answers above to explain the housing bubble & financial crisis of 2008.4. Why were traditional economists unable to explain bubbles & their instigation of financial crises?5. What was Hyman Minsky\’s explanation of financial crises?