America's average mortgage payer has not had a real wage increase in 34 years. Instead, he has become upwardly mobile by the shiny surfaces of bubbles in credit, in debt and in housing. But there must come a day when the bubbles take a bath when the poor homeowner must find another money-tree or miss his mortgage payment. And when he misses, what a hit he will take. And that will be the day all the bubbles blow up at once - including the mother of them all, the bubble in derivatives.