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We’d better hope there’s a LOT of magic in the world.
When the derivative market crashed in ’07, the derivative market was at $70 trillion. The crash resulted in millions worldwide losing their jobs and having to file for bankruptcy and suffering foreclosures. (A reaction that was later blamed for causing the recession, as Wall Street sought to blame Main Street for “over-buying”.)
Today, the still unregulated derivative trading, (or more aptly, speculative trading), is at $1.2 QUADRILLION!! (One quadrillion equals one thousand trillion!) The GDP of the entire planet is only @ $60 trillion.
Doesn’t take a psychic to see what happens next time.