The government policies in many countries such as the US, UK, Australia and others have been pro-business and pro-wealthy for a very long time, especially in the past 50 years. But in the past three decades these policies have been pushed to the extremes, culminating in the latest tax cuts to the rich while continually reducing the services to the less wealthy and the poor. This concentration of the wealth, in itself, should have been a major concern for the economists and the governments since it increased the ability of the rich to accept and take bigger risks while, at the same time, reducing the ability of the less wealthy to cope with the consequences.

Economic bubbles always start with some rich people seeing an opportunity to make a quick profit. The speed by which the profit is made encourages the continuation of that activity. More importantly, other rich people join in. After a while, the rest of the population catch on and want a piece of the pie. But by this time, the bubble is fully blown and is about to burst. Just when the average Mr. Smith thinks that he has discovered the sure way of beating the system, the bubble bursts. By this time, the real wealthy have taken their money and left, leaving the majority of the population and the government to clean up the mess. Cleaning will take time, sweat and tears.