A generation of people who believed: 1) that house prices always rise faster than inflation; 2) that shopping is a leisure activity for which there will always be a new credit card; and 3) that imported consumer goods from emerging markets would keep getting cheaper and they could therefore always consume more might finally be waking up from a massive act of collective delusion.
It is time to “wake up and smell the coffee” people. It is time to start innovating, investing for the future and building our skills and expertise. This is not going to change whatever government is in power and it is time to stop abrogating our personal responsibilities for our own futures; grow up people. Less reality TV and shopping, more books and education.