These crises are manufactured by the central banks.

Compare and contrast how the dot-com bust did _not_ lead to global financial crises. Nor did Black Monday, nor the recent string of bank failures in the US.

('Manufactured' above means that central banks are responsible. I make no judgement on intent here. Around 2008 it was incompetence by the Fed and ECB as far as I can tell. The Fed started paying interest on excess reserves and the ECB even increased rates. Twice. Amongst quite a few other missteps.)