Have stagnant and low wages in the USA led to the current collapse ?

Question

I mean.. a developed economy, high prices, yet paying low and stagnating wages.

Now they're wondering why retailers are closing down. Why investments aren't worth much because no one is able to buy anything.

Answer 1

All these problems are the result of dumb people running our government. Get rid of them and get new blood in there. They are currently too corrupt for this great nation.

Answer 2

No.

We have a 4 headed problem:

1. Devalued dollar due to interest rate & debt decisions

2. Steep energy driven inflation

3. Banking system crisis, where banks do not trust one another

4. Large swaths of the population have serious issues with their mortgages, which causes them to default on their loans, which causes home prices to drop, which causes more people to start losing their homes, etc, etc.  The continuation of the problem if from rising interest rates and falling home values.