While the economy may have been doing ok and all that, I think its still a lot to do with the feeling that everyone around you is doing _better_, and the increasingly prevalent need for instant-gratification.

A lot of this probably comes down to cheap-credit. I am by rights in the top 1% of national income in my senior-ish BigCo job, yet I look around at the traffic lights and I am surrounded by Range Rovers, Teslas, Porches SUVs etc. I dont think I could afford one of those (I tend to buy 3 or 4 year old cars outright), yet the stats say I earn more than 99% of people ... either most days I am surrounded by the 0.1% club, or people are spending a lot of their income in PCP etc.

Is it a matter of "keeping up with the jonses"? Are people thinking "Well these people around me are driving nice cars and I am not, so clearly I am getting dicked over here somehow and everyone else is earning boatloads and I am not." Replace nice cars with expensive holidays, house renovations, latest iphone, latest shoes/handbag or whatever. And all amplified and magnified by social media. Its all the same: conspicuous status baubles making people feel like they're on the loser end of the spectrum.

See enough of that over and over (and you will if you use social media) and it'll shift your world views.