Thanks for sharing this @zer0hedge, this is a real issue that I am quite interested in - being Irish it does not directly affect me, but it is still worrying to read about, as the US economy can have a knock on effect on the global economy.
This is exactly what happened in the previous crash: credit is oversold and financial sense is overlooked. The economy is booming and everyone wants to buy, so they do. When it comes to actually paying off debt and the increase of fixed interest rates, it's hard to see a long term stability.
Thanks again for sharing, really interesting read!