It's not a bubble, it's much much worse. You only hear of it in whispers among the financial world. It's stagflation. Japan seen this story before, they call it their lost decade that has been going on for nearly half a century. It's when you deficit spend like crazy to prop up the economy and that leads to high inflation and stubbornly high costs (IE: Housing). It's coupled with basically no wage growth and high underemployment. Does any of this sound familiar? It buried Japan, it might bury USA.