Trying to portray collapse as progress.

The presidents sold as great were the worst.

People still had a great deal of freedom and ownership during those previous bust cycles.

These massive levels of abject poverty and excessive wealth will bring absolute destruction.

It is God's will: woe to those who lay house against house and field against field until there is nowhere for men to live. (Even if you don't believe in God, you can consider this an observation of what happens when there is too much wealth for the few and too much poverty for the many. Even Lao Tzu advised the emperor that if he wanted stability he needed to prevent anyone from getting too rich.)

It won't be any kind of rational evolution to the next stage of human progress.

It will be hell for everyone.