So to recap on the last decade:
- Government deregulation of the banks to drive up home ownership creates a fiscal bubble
- The bubble bursts
- Governments bail out the banks to prevent sudden loss of home ownership
- People blame the banks for crisis, overlooking the decades of obtainable mortgages and cheap credit cards
- People blame the current government for mess
- Governments blame foreign Governments
- People blame foreigners, the poor and immigrants. But especially immigrants.
- People vote for right-wing parties pushing xenophobic policies
So the next decade is set to begin with:
- The US spending $5.7Bn building walls, not helping people
- The UK exiting a Union which has enabled the very growth which enable the bank bailout
Let’s hope 2019 is the year we can turn this ship around.