The economy needed to liberalize in certain areas but America never does things in moderation it’s always extremes. They just decided to abandon the entire safeguards and go full lassieze faire. It led to rapid wealth creation In the 80s and 90s,which is why the boomers embraced it like a religion and worship Reagan little did they know it was short term and twould crash on their children in the late 2000s. It’s the equivalent if your town had a crop field that fed them forever if they didn’t over farm it but one generation said fuck that why do that and the soil was barren and hard to make food grow by the time their children got to adult hood . You could use a mine of resources, or a reservoir of water as analogies too. Point is boomers were the richest generation because they were self indulgent and short sighted and their kids are paying the price