For sasguru

[TheBigYinJames]

Labour will be long gone by the time the upswing starts.

And you'll have an extremely skint Tory govt desperate to make some money to fund their promised tax cuts for the masses.

[BrilloPad]

Unemployment hasn't risen massively yet so people still have to get work. And they will always need the essentials.
But there is plenty of evidence that non-essential spending has fallen off a cliff. Eventually in a consumer driven society like this, that will lead to companies laying off people/going bust.
We still have to go through the unravelling of the credit card/loan debt IMO.
It's a kind of madness - people buying things they didn't need with money they haven't got.

I have been thinking that for 20 years. I despise debt and can't understand why people take on so much of it.

But there seems to be a culture now where a certain amount of debt is fine. Will people get back to being debt free? Will a certain amount be accepted?

[Platypus]

I despise debt and can't understand why people take on so much of it.

Aspiration > Income

Simple.