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A credit bubble may pop due to loss of confidence, but the loss of confidence is not purely non-deterministic psychological phenomena, it is due to the interest owed on the debt held by speculators which bought financial assets on credit exceeding the expecting asset price gains from buying or holding more assets. When speculators stop buying more assets on credit, asset gains dry up, and those which bought assets on credit or by slowing payments on other debts in hopes of making gains still have to make payments decreasing quantity of money in market causing sell off.