Did 9-11 (2001) cause market crash, real estate crash, etc. If not immediately, did it change the approach/attitude of enough Americans one way or another, such that the collective “american dream” changed – perhaps to a focus on the short-term. E.g., I’m going to live now; spend now. (Creditor-side error was in allowing to help people live this out.)
Interesting tie-in to Obama’s campaign theme of “HOPE.” Really, it was hope that got us into the mess we are in now. What should have been the focus is fundamental values, contraction, living within means (as a country and as citizens), etc.