We are currently "enjoying" an unprecedentedly long period of uninterrupted growth.
Under normal circumstances, one would expect this to be accompanied by balancing of the books (ie paying down debt), and gently rising interest rates to control the supply of money.
Instead, we have government debt at a post war high, and interest rates at historically low levels. Meaning the room to manoeuvre is severely limited.
On the back of this we have cheap money fuelling bubbles. Companies which have never made a profit and quite possibly never will, benefit from billions of £ of venture capital investment, and at the same time put out of business previously viable enterprises.
Where will this all end?
Who knows. But my bet is that it isn't going to be pretty, and history tells us that the the people who caused the problem rarely carry the can.
Edit: tl/dr - 2008 all over again with a slightly different set of bad actors.
There are significant issues.
We are currently "enjoying" an unprecedentedly long period of uninterrupted growth.
Under normal circumstances, one would expect this to be accompanied by balancing of the books (ie paying down debt), and gently rising interest rates to control the supply of money.
Instead, we have government debt at a post war high, and interest rates at historically low levels. Meaning the room to manoeuvre is severely limited.
On the back of this we have cheap money fuelling bubbles. Companies which have never made a profit and quite possibly never will, benefit from billions of £ of venture capital investment, and at the same time put out of business previously viable enterprises.
Where will this all end?
Who knows. But my bet is that it isn't going to be pretty, and history tells us that the the people who caused the problem rarely carry the can.
Edit: tl/dr - 2008 all over again with a slightly different set of bad actors.