[nostrademons]

That cycle is how capitalism works, for any good which requires a large capital investment for financial returns that drop whenever there's excessive competition in the market. Historically, we've seen it with textiles, railroads, steamboats, automobiles, office parks, farm crops, telecoms, and airlines. If we actually got space travel and viable renewable energy, we'd almost certainly see it with them as well.

No, it's not pleasant for the people who are laid off or businesses that fail. But basically the entire financial industry has evolved to smooth out the peaks and valleys of this cycle, providing the capital to get the boom started and then recycling the carcasses of overcapacity into productive uses when the boom ends. It's business as usual for a capitalist economy.