The North American Free Trade Act NAFTA of 1994. Since that date, America has lost 50,000 manufacturing plants. America has a little over 3,000 counties with an average population of 100,000. 
If you divide 4,000 into 50,000, you get an average loss of 13 to 14 manufacturing plants closing and going overseas per county.This has destroyed local tax bases, government revenues and jobs resulting in millions of unemployed and millions of foreclosed homes. Instead of testifying before the Congress and telling the nation what would happen Greenspan covered it up by printing lots of money.
There was no price inflation, because traditionally a manufacturing based economy has to bid workers and raw materials away from competitors. Not so since NAFTA. We had no manufacturing base left to create price inflation.
All the monetary inflation went into the stock market. Greenspan crashed the stock markets to end the dot com bubble and elect the warmonger Bush. After the dot com bubble went pop, Greenspan ignited the Housing Bubble.

Why do we have a Bubble economy? The Bankers and their minions sent all the jobs overseas so the only way to make money in America today is through the Subsidized Bubble Machine known as the Federal Reserve and the Federal government.

Citizens are required to buy insurance under penalty of law. But the insurance companies who wrote the Obamacare bill are not required to treat you when you get sick.
This is a subsidized medical system which when the Bubble pops will send wages down, down down for nurses, doctors, pharmacists, EMTs and others in the health care field.
Local schools and police were in the subsidized Bubble economy but the implosion of the tax base is forcing layoffs in many cities and states. Providence Rhode Island gave pink slips to every teacher. Ashtabula county Ohio (population 102,000) laid off all of the Sheriff deputies save those working in foreclosures for the courts. This means they have one deputy per shift for the entire county. A local judge told the residents to buy a gun. 
We have reached the point where the only Bubbles left are WAR and subsidized GOVERNMENT endeavors.
The next sucking sound you hear will be civil service and healthcare jobs evaporating. This will send the unemployment rate above 30% from its current 22%. By definition and by law, Bubbles cannot give the illusion of productive employment and real wealth without the participation and cooperation of the bankers and the politicians they own.