Three red lines was introduced in Aug. 2020. The collapse started in Sept. 2021. It was a centrally planned, managed collapse, with the intent of making the capitalists take the hit instead of the working class. It was very unlike the 2008 one in the US, where no orthodox economist saw it coming, and the government was caught with its pants down, and it ratfucked working class homeowners to save the private banks, who had written bad mortgages that they knew couldn’t be paid.