Hi there! I'm not an expert in the subject, but I'm currently studying this as a module of my history course, so I thought I'd give it a go. Given that I'm only a student, I'll just give you the facts as I know them and not argue either way - I'm not really qualified to make a judgment.

There were definitely several problems during the period that you've highlighted. Economically, debasement of the coinage greatly increased inflation, and the money was largely lost through paying for mercenaries and, under Somerset, wars against Scotland. Additionally, the process of enclosure was disliked by many peasants who had depended on access to previously common land for sustenance. You might say, therefore, that the governments of Edward and Mary were largely to blame for economic issues in England at this time. On the other hand, there was a notable population increase during this period, and this really went unnoticed. The problem, therefore, was not only that the government were enacting and continuing "bad" policies - because of the inelastic supply of resources and the expanding population size, there simply weren't as many jobs (or food) to go around, and that's not something that can really be attributed to government failures - even financial experts like Gresham didn't have access to enough data to notice the population boom. It's worth noting, though, that this continued to be an issue long past the death of Elizabeth, so the problem isn't limited to the period commonly thought of as the Mid-Tudor Crisis.

You can get an idea of the level of turmoil in England and Wales during this time by looking at the number of rebellions and what the rebels' demands were. We have Kett's Rebellion, which was largely related to enclosure; the Western Rebellion or Prayer Book Rebellion, which was in opposition to Protestant doctrine; and Wyatt's Rebellion, which was a response to Mary's proposed marriage to Philip of Spain. The first two of these stayed largely limited to the regions in which they started, but Wyatt's Rebellion presented a national concern about the actions of the government, and it arguably almost succeeded in deposing Mary at the start of her reign.

I shan't patronise you with details of religious turmoil, as this period is the high point of change during the English Reformation. Suffice it to say that the conversion of an entire nation from Henrician Catholicism to Lutheranism to Calvinism to Catholicism to Calvinism within a period of about 40 years was not an endeavour that the English people received particularly well. The doctrine changed so much, so quickly, that in Mary's reign people were being burned for expressing beliefs that they were bound by law to hold only three years previously. (This did not endear her to her people.)

I hope this answers at least some of your questions, and gives you some things to research further if you're interested - feel free to ask any follow-ups you may have and I'll do my best to answer! :)