14 trillion in debt proves one thing - a service economy cannot exist without a host, a manufacturing/production economy.
You hit the nail on the head. It was nothing but a 30 year illusion that the USA economy was going OK. Since the 1980s the financiers have stolen our economy. The stock market isn’t the US economy although the Fed and their bankster pals would have us believe it.
The stock market is the bankster’s economy not representative of the real economy of 300 million real Americans. All of those trillions in debt made a few ultra rich and the USA temporarily look good. Wall Street looked good but it was a sham and false front.
The greatest manufacturing economy on Earth was the real platform that made USA exceptionalism what it was and more than a just a political fantasy. The service economy (especially Wall St.) is a parasite economy that lives off of the production of real goods. Manufacturing creates a real economy because it involves natural resources, R&D, manufacturing, and a host of other activities for the economy. For every manufacturing job, 10 other jobs are fostered.
I blame both Parties for their blatant incompetence and sell out of the USA.