We had productivity gains but wages did not rise in lockstep and inequality took hold. Then the productivity slowed and the economy was then based on debt, not improved productivity. Without improved productivity now wages will remain stagnant for many years and so even those with high mortgage will not get the relief they expect from future pay rises. Money has gone too much into the nontradable sectors, just circulating borrowed money around.
So it is fixable if we can improve productivity and invest in wealth generation.
More likely will just be a long slow road to nowhere. Living standards will also stagnate.
Crash only if something causes a panic, or trade wards, or currency wars, or bang-bang shoot em up wars.
