If one analyzed this fully one would have thousands to millions of answers.
However, the single biggest reason this collapse took place I think is the monetary imbalance world wide. Too many poor people and too few rich people. Not just in America but worldwide about 80 to 90% of the wealth is in only 1% of the hands of the world. It might even be higher than that. Second, this is the same ratio (at least in America) that occured in 1929(too many poor people and too few rich) and this triggered the great depression. I think if you don't have the wealth of any nation spread out fairly enough the poor have no reason at all to support the system. And when that collapse occurs then if some kind of populist or socialist system (at least temporarily) doesn't come into being you tend to move toward something like the French revolution and Marie Antoinette and "let them eat cake" and poor old Marie forced to face up watching the guillotine come down to take her head off.
When the rich worldwide get so unrealistic that they completely forget to feed the poor then the rich tend to not be around anymore. So, since the 18th century to avoid bloody revolutions more nations go populist or socialist during these times so blood doesn't flow in the streets and in this way the wealth starts to flow downward enough to at least feed the people and clothe them even if they aren't housed. In this way bloody revolutions like Marie Antoinette faced don't happen.
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