Reply #1: The main reason for the bust?

[Warpy]

DEPRESSED WAGES. Wages have never achieved the purchasing power they had in 1969, the year liberals went out of power and were replaced by conservatives in both parties.

Cheap and expensive credit, both ridiculously easy to get, were substituted for inadequate wages. People wanted the same lifestyle their parents had had, but had no way to afford it on their wages. Debt was the only way to achieve it.

A lot of people out there are about to get a very harsh lesson in household economics.