Debt is the modern slavery.
In the last 14 years the cost of borrowing was essentially close to zero. What it did was over inflating asset prices, people have been buying assets and homes at over the top inflated prices, and they literally mortgaged away their entire life worth of potential earnings in an era where there is not guaranteed job and income security.
Now with interest rates going up, food and energy prices going up, while asset prices need to come down and have come down. Payments required are going up on the debt people have accumulated, now comes the squeeze.
This is a perfect storm towards own nothing and be a slave and rely on massive government bailouts if this continue down the trajectory.
We are not there yet, and hope we don’t get there.
Yes - all asset prices and when there is a correction, the media doesn't seem to remember why it is correcting.
Don't worry - UBI will save us!