What is happening in the UK today is what happened in Spain 10 years ago, or what happened in Japan before Spain: A bubble created by easy money.
In Spain it was money coming from France, UK, and Germany. In UK it is money coming from Chinese and central banks, and people worrying about the stock market.
The big problem in developed countries is that they are old democracies. For the first time, most of the population of a country is not young, but old.
In the past, with pyramids of population, the younger population decided for their country, now it it old people who is majority.
This means young people could be sacrificed without consequences: taxes are being raised on the young and working populations to support elderly pensions. House prices are artificially sustained so old people does not lose their investments. Working benefits are cut on newcomers to support veterans.
In Spain it was money coming from France, UK, and Germany. In UK it is money coming from Chinese and central banks, and people worrying about the stock market.
The big problem in developed countries is that they are old democracies. For the first time, most of the population of a country is not young, but old.
In the past, with pyramids of population, the younger population decided for their country, now it it old people who is majority.
This means young people could be sacrificed without consequences: taxes are being raised on the young and working populations to support elderly pensions. House prices are artificially sustained so old people does not lose their investments. Working benefits are cut on newcomers to support veterans.