We've (and to an extent we have been encouraged to) dug our own hole here. Living above the means, credit, "buy now pay later" etc...
Look at house prices..fantasy world. Anyone ready "Making Money" by Pratchett? I refer you to the end bit - about fantasy gold, and banks promising to honour wages etc, and the gold being there, provided nobody goes to look. It's the single best summary of the whole idiotic mess we're in that I've read.
The whole damn thing has been a dream..dream profits, dream values - I defy anyone to tell me things like the house prices, the mortgages etc are really worth anything physical. An agreement based on money never really seen is all it is.
And then it falls over. Lets see what happens - the population of the world needs curbing - this might just be the kick it needs. You can't stop an avalanche - the most you can hope for it to let it level out and then pick up the peices and try to learn from the experience.
Governments never will. All bloody money-grabbing spin idiots. Their wages are ridiculous, and so is everything they do. To an extent the same holds true for councils. Power corrupts.
The UK isn't london, yet how often do the Gov't really get out of there and see? You can't model the UK on one over-inflated glorified city. It's just plain idiocy.
I was brought up by an accountant, and my elders. I live by "make do and mend" and "if you can't afford it, do without". I don't own a credit card (debit), I've never taken a loan. I don't see the point. What I have may not be new, it may not be flashy, and it may look "distressed", but it's all paid for outright, no debt incurred.
As opposed to my brother, who's quite in debt...living above his means, and not seeming to see it..until now. It's all stupid.
If anything, a coelition governement might be more use..