No one really knows the precise causes of the crash, and it was undoubtedly due to several factors. Canadian economist John K Galbraith has voiced his deep concern, pointing out that the New York stock market is overheated. But not much good if you had borrowed to make an investment. I still believe the US economy is teetering on the brink of disaster. It is a formidable market, don't get me wrong.
Unemployment is virtually non-existent, and inflation is very low.
But its powerhouse is driven by an insatiable appetite to devour. But there is, and one day someone is going to have to pay in hard currency for all that consumption. That means a lot of people must be in a lot of debt. If interest rates continue to rise then they are going to have to try and repay that debt. In the same way the American economy is going to have to start repaying its debt to the rest of the world.