I in no way am trying to suggest only Dems as in political party are to blame. Liberals reside in both parties, and by 2000 election there was that case of irrational exuberance so called internet bubble that popped. Quite frankly I do not believe the average congressperson has a clue what the workings are of blowing bubbles.
I think the average congressperson know less about economics than I do...scary thought.