It is simple.

Wages have not kept up with inflation and productivity growths for the past 50 years.

The West is a consumption driven economy.

We are relentlessly marketed to that consumption = success and happiness.

People cannot fund consumption out of wages so lending criteria went out the windows decades ago and the consumption is funded by debt.

They same people who are saying this is a problem are the same people who have restricted wage growth.

But they blame the average person for the problems they have created.

To quote a late 20th century philosopher, David Burn, Same as it ever was!