Good stuff, but there's more. There are 4 total bubbles to be concerned about. The Federal Debt is one but the others include Student Debt, per capital healthcare, and unfunded state pension liabilities. For good measure, have you looked at commercial real estate? Leases are not renewing at anywhere close to where they need to be what with working from home having permanently changed the world culture. if multiple bubbles burst (or even one) the fed will not be able to bail everyone out. Those down on the economic ladder will bear the brunt. Basically, we're all fuck*d.