[quote=Allan from Fallbrook][quote=UCGal]He drank the kool-ade. He should have known better. I have some emotional sympathy, but no rational sympathy. (Not sure if that makes sense to you all, but it does to me.)
Having read the article – I was struck by how much the wife expected him to somehow magically make it all better. As a wife, I don’t get that attitude… How could she have abdicated her part in the financial mess?
[/quote]
UCGal: Don’t you think this entire country has been seized by “magical” thinking and for a while now? We were all going to get rich on the internet during the dot.bomb era. Then our houses were going to appreciate ad infinitum and provide limitless supplies of money.
Then, when the feces hit the rotary oscillator, Obama and the gubment were going to save us and hit the “reset” button. You know, the one that magically would preserve our standard of living, keep housing values inflated, and keep the money spigot flowing.
Granted, this author certainly should have known better, but, in truth, the average American consumer has been fed so much BS for so long, we’re no longer able to discern any sort of objective reality.
[/quote]
American people have been hard working and very lucky over last 30 years. The news media and Hollywood has always been fueled by feel good stories (Horatio Alger), optimism, work hard and make it to the NFL, etc. Pessimistic stories are downbeat and make for bad copy. “Economists have predicted 5 of the last 3 recessions, Stock market goes up 80% per of time, never bet against the American people, etc”
Had a discussion with a someone who retired as engineer a few years ago. I told him I was worried about future of jobs and economy in America. He said don’t worry, the Japanese were supposed going to take over America in 80’s and they failed. “We have spirit and ingenuity to prosper.”
Can you blame anyone for doubting the last century of hope and prosperity would continue?
Any doubters were cast aside as doom and gloom like PS.
