The risk with this type of exercise is that it can, if it is not done tactfully, come across as intrusive and patronising. Low interest rates, easy credit and a culture of Yolo and Fomo – translation for older readers: You only live once and fear of missing out – have promoted a credit culture. Miserly savings rates have discouraged thrift. Central bankers have stoked the furnace by until recently printing more money under the Quantitative Easing programme, which has kept interest rates low and driven up the prices of assets such as housing. This has been obscured by low interest rates and easy credit, but is now becoming plain.

Source: Daily Mail August 08, 2022 03:05 UTC