Or let me put it another way. RBS, BoS, Barclays, Lloyds, they've all been around for a hell of a long time. Hundreds of years. They've always attracted greedy people - heck why else do people become bankers? And yet they've always survived. What's different about this time?
Now, I think the answer is the government's low interest policy but even if it's not it's got to be something big and unusual.
The baby boom. That’s all the servicemen returning from the Second World War and starting families, causing a huge temporary surge in the population, right?
True, but there’s a bigger one. Look:
Just in case you were wondering, I took 1980 as the date because it shows the 60s boom and it’s before the post-War crowd started to die off in any significant numbers (cancer starts to kick in in the mid-50s). I am assuming that deaths up to this point among the post-War Baby Boomers were largely confined to pop stars.
I, of course, am right bang in the middle of the Real Boom. I do not expect to draw a state pension.
All this came from here. Not the greatest source but I’d challenge even them to get this very wrong.