I grew up in rather more austere financial conditions than exist...

I grew up in rather more austere financial conditions than exist today - labour was cheap, products were expensive. If you wanted that Brownie Box camera, you had to save up for it before buying, and then you had to save for every roll of film, not to mention cost of developing and printing.

Currently we buy all sorts of stuff we want but don't need and we have to have it this instant and to hell with the price of debt. Instead of lay-by, we have Z1P type facilities.

I've been a pay cash bloke all my life but the vast majority of people today are not. Z1P and others are providing a good financial service which carries some discipline with it, so it's not a bad thing even to my eyes

After the Corona lockdowns and recessions world wide, there will be an enormous pent up demand waiting to be satisfied, and even those with no jobs will be buying shit they think they need (and maybe mental health is positively affected buy buying shit).

None will have cash so Z1P and co will benefit and so will long term holders.

Just my view