Why Your Children Will Be Poorer Than You | Foresight Dialogues

Welcome to Foresight Dialogues! Today we discuss why your children will be poorer than you. Are today's younger generation becoming the first in modern history to earn less, to own less, and struggle more than their parents? In Episode 4, we unpack the grim reality of the current cost of living crisis. We explore how real wages have only gone up by around 5% since 2008 , while everyday essentials like eggs and petrol, alongside average house prices, have skyrocketed. We trace this massive disconnect back to the 2008 financial crash, explaining how US subprime mortgages and collateralized debt infected the interconnected global banking system. We dive into the political maneuvers of the Clinton and Bush administrations, discussing how deregulation and government-backed deposit schemes artificially inflated the housing bubble to fund post-9/11 wars without raising taxes.