If you agree that the analogy with the Japanese crash and economic crisis of 1990 is fair, then you will have to agree that the US economy now is in a similarly dangerous "bubble". That bubble has not appeared overnight, but over 15 years of mainly very low interest rates and insanely high money creation via four rounds of QE (including the last during Covid). So Trump, or no Trump, and the Covid issue aside, this bubble is long overdue to pop.