As wages and salaries decline, people are struggling to keep up with the way of life they once know. So they fall deeper in debt ? a debt which allows them, and the banks, to delay the day of reckoning once again.
Maybe we should go back to teaching our kids better values than it being all about the $5000 handbag and $1300 Manolo Blahniks. Go back to encouraging citizens to save, you know, as if we really care how people do. Make debt a dirty word.