The live now, pay later economy comes at a heavy cost for us all | Phillip Inman

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Central banks risk triggering a cascade of defaults if they ever raise interest rates again

Why would you want to own anything when you can rent? It is a question being asked of cash-strapped millennials whenever they think about hitting the high street.

 

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'I know, it sounds like a Ponzi scheme. You pay in and get more for nothing, as long as the money comes in. If the money stops then everything goes to shit, but if it doesn't then it is all fine. That's how an economy works, it isn't a Ponzi it's a credit-centric fiscal policy.

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