Agreed! You know argus, most people do have their heads in the sand. My parents era was TRAINED to think the govt. takes care of everything and since LBJ and the Great Society it has only gotten worse.
Now, you look at the 25-35 year olds, and in amazement wonder why many of them think the economy is untouchable by recessions, depressions, inflation etc. The result is, of course, living beyond ones means.
I am really worried about the economy, My wife is an heiress (really her dad is worth about 30 mill>) and she likes to spend money. However, I have foeced her to pay off credit cards (owed 60K two months aqgo) now down to $5,000.
Her friends are mostly people with hardly any assets, but reasonable incomes, and they all think it will never end. Inflation you ask? They know not what the word means. I had one friend (an MBA From CAL POLY POMONA) who said well if rates rise to 18% again it could cause inflation. Don't send your kids to Cal Poly pomona for an MBA!
We aren't the ones doomed, when the shit hits the fan we will survive because of vision.