Ten years on, we’re getting into another debt crisis | Deborah Orr

The early signs of the 2007 credit crunch are back. With wages stalled and prices rising, more and more are turning to loans and plastic cards to make ends meet

We are 10 years on from the start of the financial crisis, and unsecured consumer debt has reached more than 200bn for the first time since 2008. It's up 10%, year on year. The best that can be said of the matter, as compared to the pre-crash debt boom, is that at least there are worries about it.

The Bank of England and the credit ratings agency Moody's are among those who have warned that the situation could be problematic. Which seems like an understatement. These guys are talking about big-picture risks to the economy, which generally adores debt. But at street level, the Financial Conduct Authority warns that one in six people with debt on credit cards, personal lending and car loans is in trouble. That's 2.2 million stressed-out individuals.

Related: Bank of England warns of complacency over big rise in personal debt

The welfare state is used to punish people for being dependent, forcing them into debt - because they have no choice