For millions of Americans, the 2008 financial crisis came out of the blue. On the theory that it's always calmest before the storm, could another financial crisis of that magnitude come at any moment? The answer, reassuringly, is no.
The bottom line: The stock market is frothy, and it's possible that entire industries like fracking could suffer widespread defaults. But when stocks and bonds go down rather than up, that's a market cycle, not a financial crisis.