The fact is, young people have no real experience of managing prolonged periods of inflation or out-of-control energy bills. Nor do we have any memory of high interest rates. In 1975 the Bank Rate was 11.5pc; now it’s 0.75pc.

My generation may think the ­financial crisis was enough for them to have a built-in resilience to financial shocks. Back then, unemployment hovered between 6pc and 8pc, but was as high as 20pc for those who’d just left school or university. At the lowest point, in February 2009, real wages fell by 8.6pc.

But whatever we believe, this has not given us the tools to manage the approaching disaster.

This lack of experience has also led to complacency and plenty have not fully digested, accepted or planned for what is coming. You can perhaps include my dad in this cohort. But when the crisis finally dawns on those who think it will pass without impact, my father’s generation will be ready. I fear mine will not.