Everything is historically expensive right now. People only talk about forward P/E ratios, and everything is priced for perfection. There is unreasonable optimism among investors, even as the rest of the world is dealing with economic problems. There is a record amount of debt, globally. There are many similarities, but also some big differences, to the 1920s. I think this is a massive global bubble in asset prices.

It also looks like a crack up boom. There are signs this could end in hyperinflation. I think a soft landing is very unlikely.

America is also very similar to Japan in the 80s. When there is this much debt, it is very difficult to avoid a recession. And a recession leads to debt deflation. Then, a liquidity trap follows. This is what happened in the 1930s, and it happened in Japan. 

 you said everything that needed to be said

"There are signs this could end in hyperinflation." So what's the antithesis?
"...recession leads to debt deflation." Of the US Dollar, right? Not BTC. But the US debt is held in USD. So paying off the debt is technically very possible if you leverage the deflation of BTC vs the deflation of US debt.

That's called hyperdeflation. Which, if I'm not mistaken, is the exact usecase of BTC just applied on a national level.