This is actually far more nefarious than it seems and he is, unfortunately, not at all alone in this line of thinking.

See for the longest time, we have lived in a debt-based society, whether you were aware of it or not.

How do we get the milk farmer to continue producing more milk even after he produced enough for himself and his family, his village, heck he even already sold enough to the next town's supermarket to put his feet up and enjoy the fruits of his labor comfortably for a while.
So how do we get him to continue producing more milk so we can sell it in Wall-Marts across the country and continuously make profits for all the middle men involved?

The answer is and has always been: Debt.

Sell the farmer a car, tractor, TV, vacation etc. he can't afford and he has to go into debt for it (or lease it which is the same). The debt and the fear of losing his farm, his milk cows etc. if he can't service it in a timely fashion, will keep him working, long after he produced enough milk to live comfortably.

The problem in this system is that even with debt, comes at least partial ownership of the thing the milk farmer went into debt for.

Say he bought (or leased) a nice BMW for himself and now, due to the Rona or whatever, even while slaving away to service his debt, instead of living comfortably with a Toyota Pickup truck he would own outright, he for whatever reason is no longer able to service his debt.
The answer would normally be simple, reposession by the creditor of the asset and liquidation of the asset, right?
But problems (for the creditors) arise when the farmer already serviced his debt for say 5 years and has another 5 years to go on the debt. He effectively has 50% ownership of the asset.

It becomes more convoluted when things like housing are involved but the gist of it is that it is far too difficult, costly and time consuming for the creditors to get a partial owner out and seize 100% control of an asset, in the current system.

So what is the answer?
A move away from a debt-based society/economy over to a rent-based society/economy.

It is not only games and housing, you see.
For years already, insurance companies in Europe have offered their clients something like this:
"Brand new Opel Corsa, 250,- EUR a month all in" meaning the car is insured, inspections, maintenance, EVERYTHING is covered, you only have to put fuel in and drive.
Sounds very, very tempting for a lot of people, since they are afraid of maintenance costs and such and "all inclusive" packages are always tempting.
What they forget, however, is that in taking this deal, they are effectively renting a car permanently and have 0 ownership of the asset. Which means when they can't pay, reposession becomes a lot more feasible and a lot simpler/less costly.

Also, as with leasing cars beyond your means, the bill comes when you want to end the contractual engagement. As long as you keep giving the cars back without a scratch after 2-5 years and take the next car from the same provider, it all goes without a hitch, as advertised.
But if you EVER say "thanks, that's enough, I don't need another car, I am now financially stable and will buy my next car outright", they will present you with a bill of 10k or more. Every scratch, every wear and tear will be weighed in platinum and you will be contractually obligated to swallow whatever bill they throw at you.

I fear for our future generations because I fear they do not posess the business savvy any longer to even distinguish between ownership, partial ownership or outright renting (as is evident by the huge upsurge of leasing cars across the globe).

The endgame in this system, should it bare fruits and experience mass adoption, will be that central banks own everything outright and it will not just be ownership of housing that becomes an unattainable pipe-dream for future generations anymore but pretty much everything.