I was born in 1966 and have been noting how much the 2020s feel like the 1970s in the UK: pessimism, inflation, industrial action and a feeling of decline.
I did not live through the 70s, and I'm not British, but I have heard people say the same about the US now. That there is a sense of exhaustion comparable to the 1970s.
If I could put on my sociologist hat, I would say it's due to demographics. The 1970s were the "trough of disillusionment" for the baby boomers as their youthful idealism faded, and we're seeing something similar as the similarly large echo boom generation ages.
