I wouldn't use the stock market as an indicator of what's going on with the financial and job security of the working people.
Please do a search for "Eurpoean Debt Crisis". Here's just one article, that is quite frankly a bit lightweight as most NY Times articles are these days:
https://www.nytimes.com/2020/05/06/business/coronavirus-europe-reopening-recession.html
This will be exacerbated by the fact that the UK, the EU's second largest contributor, leaves the EU on January 1st. I read one article, which concerned the Irish Republic, that stated the Irish taxpayer was looking at an average
annual tax increase of 3000 Euros.
The UK government has legacy financial commitments that have always placed a huge demand on taxation. For examples; in proportion to it's population it has the world's largest public sector (government employed) work force in the world, the world's largest social welfare state and the NHS is the world's fourth largest employer.
Between April and June, our economy contracted 20.4%. To put that in perspective, during the 2008/2009 crash it only contracted 8%. It supposedly recovered by 15.6% this June to September but some are questioning how that was the case when unemployment has doubled (now exceeds 3 million-and rising), bankruptcies for the past 6 months have exceeded 100,000 businesses (and rising) and the government continues to pursue Covid-19 lockdown policies that continue to shut down our entire retail, hospitality and tourism industries (one of our biggest employers).
UK government debt in 2019 already exceeded £1.82 trillion, (84.2% of our GDP) and many people are asking, with the effective collapse of corporate taxation and business rates where is all the money coming from?
To put it simply, the UK government has effectively killed the goose that laid the golden eggs.
Such financial stupidity is being repeated throughout the Western world (I notice Canada is looking at a $172.52 billion budget deficit) and is going to make 2021 a very interesting year, but not in a good way.
The UK and EU, which combined are one of (if not the largest of) America's trading partners, are teetering on the edge of a financial cliff. Were already in recession and if our governments continue to pursue lockdown policies with total disregard for the severe economic consequences then the U.S will inevitably feel the impact of that.
So if you want to persuade a person that they
should not be expending so much money and resources on prepping, regardless of their personal consequences, all they have to do to justify their belief is fire up the internet and show you how the Western world is going to financial hell in a hand cart.
It would be hard to argue with them.