As of this writing in summer 2025, parts of the United Kingdom are experiencing drought conditions. Which is strange to me because I figured that it is always raining in the British Isles. But here we are. Turns out that droughts do indeed happen in England. And they aren't too uncommon either. Which makes a strong water supply system essential. Over thirty years ago in 1989, England and Wales privatized its water industry, selling them into the public markets. Today, several of those companies - including the largest - teeter from excessive debt and huge infrastructure bills. How did this happen? In today's video, a brief history of the momentous 1989 water privatization and the debt crisis it created.