There are a lot of pre-cursors (building over time) to the "Roaring 1920's ending" October 1929, the "Internet bubble burst" March 2000; and the "Global Financial Crisis" September 2008.
Fed stimulus will (most likely) end by mid-April (with Higher Energy costs impacting their positive effects on the U.S. economy) with the U.S. Treasury (also) stopping its' purchasing of its' own bonds by then.
Tax refunds were substantial overall for 2025, but again as mentioned; Energy prices will remain high (for months, or longer) especially with the most recent escalation of the U.S. Iran War.
The Fed has also printed an additional $125.0 Billion in currency since January 2026 (in an attempt) to prop-up the U.S. economic-financial system.
Yes, this does add on to the (current) $39.1 Trillion U.S. National debt (and rising), as does; the U.S. Iran War; and contributes to (rising) Inflation costs as well (over time).
The (Real) U.S. economy heading into 2027 is what to watch.
Current trends dictate strain on the U.S. economic-financial system with layoffs (2026 > 2027) increasing over time.