Oh I've little doubt this country is heading down the sewer. Every indication shows this, and every lesson from history. A country has it's day of glory, but then people (or the people in charge) get arrogant and complacent, and that nation falls.

One theory is that it comes down to economics and raw materials in particular. The european nations weren't doing so well, but many then went out and decided to make empires. Suddenly in came huge amounts of raw material and growth. Eventually the colonies decide they can do well for themselves and go their own way - the income stops.
Those colonies often find they couldn't run a bath never mind a country, the "mother country" still seems to feel they have a duty to pour aid in and let huge amounts of people come here.
Eventually the old country is bled dry, the new countries finally get their act together.............and I've even read in a financial report that the UK will eventually become the new India or Philippines - huge numbers of our young people forced to go work abroad in horrendous places to have a chance at earning anything.

This needs a government prepared to get a huge grip on many problems - but a lot of those problems are "elephant in the room" issues which no-one is brave enough to address