A good look at what's happening at the end of the road in capitalism. Without workers who have disposable income, there's nothing to sell to anyone anymore. Ruin of the working class results in the common ruin of all classes.
Have a look at this guy's channel, if you're curious to see more. There's more than just this one area. Everywhere is just rotting away.
It's not just your country, this kind of understanding of politics infects the entire Western world, no doubt thanks to the cold war, and especially modern social media that spreads brainworms.