Families in the U.K now owe a record 173% of their incomes in debt, up from 129% five years ago. This is the highest level of debt a G7 country has ever seen, and it has been largely financed by rising house values, so-called. Meanwhile consumwer cofidence is now a minus figure of 34, the lowest since 1990. Americans think they have problems!
Epicurus, were he alive today, would put all this down to unregulated, unrestrained capitalist greed, and would point out that those who have preached a hands-off policy and total free enterprise should be taken out and shaken till their teeth rattle. Now we will see a huge reaction against so-called free markets and the dumb clowns who will have no oversight over the greed-merchants. Alas, a bit late.