They haven't been proved wrong. Can one income support a middle class family anymore? Can anyone even afford rent anymore? The entire system has inflated beyond the breaking point because previously easy to get energy and resources are now harder to get. Every crisis that is "averted" by some financial trick is just the market sending signals that there is less to go around.

Conventional easy to access and easy to refine oil peaked in the US in the 70s....energy crisis and we left the gold standard. It peaked worldwide in the 2000s...2008 financial crisis and massive bloom of credit. The "solution" to these events is a reshuffling of the deck chairs, but the Titanic continues to sink.