This is a deep-rooted problem with no quick fixes. However, we have survived as a race because we are resourceful and have an unparalleled ability to adapt. We need to evolve from a culture of consumption to one of investment. We need to borrow and spend less, save and invest more. Becoming better investors and taking charge of our financial future is now both a personal and social imperative.
Like Wimbledon, major political campaigns seem to be becoming an annual fixture of British summers. Following the Scottish Independence Referendum in 2014, a general election in 2015 and the Brexit referendum in 2016, we now face another general election in 2017.
In this strange dystopian present, the one constant has been inconsistency, and many firms, big and small, in the finance world have learned to expect the unexpected. So, for all this change on the political and economic scenes, the City has actually become one of the more stable epicentres on which the UK's global future continues to rest.
It is a political, social, economic and cultural construct that should be the model for the European Union to emulate. It would be a real waste, and an exercise in pure political vanity, to want to exercise that political freedom in such a self-destructive manner.
Making your way through the initial stages of a career or taking first steps onto the housing ladder can be tricky, so what can you do to make life a bit easier in 2017? Here are five areas that could help you take control of your finances and make your money work harder for you.
It's no surprise that the public-at-large find finance confusing. On the one hand, politicians and businesspeople speak of the testing economic times, the challenges faced with Brexit, the volatility caused by Donald Trump's election and the risks to world stability.
In the long run, the prospect of higher global debt levels, a more imbalanced global economy led by the US and the potential for the inflation genie finally to be leaking out its bottle after eight years of unprecedented monetary stimulus is alarming. The coming bust will be the biggest in human history.
Legacy players cannot avoid the fact that fintech businesses are growing their share of finance markets globally. As they seek to keep pace, a battle for consumers and revenues - the establishment versus the disruptors - is seemingly unavoidable, with the finance industry as a whole becoming a more competitive sphere.
09/11/2016 13:23 GMT
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