Serious question: Is it? How'd we get into this mess? People buying things they can't afford and racking up a credit debt. We're too materialistic, and a lot of people (especialy people my age) don't have very good money management skills. This recession is going to remind us that life isn't going to be smooth sailing, and there will be bumps in the road and (if you can handle one more metaphor) we may sometimes need to save that money for times when we need to tighten our belts.
Everyone I know between the ages of 14-18 has a cellphone, payed for of course by their parents. A lot of them, and adults, are reckless with their money. They want to buy, buy buy, without thinking about the consequences.
Kind reminds me of the roaring twenties. Everyone was buying with credit. Then what happened? The economy went into the crapper and we got the great depression. Our grandparents came out of that a little bit wiser with their money.
So, if this gets worse before it gets better, it's going to affect our society positively. We're going to learn better money management, and we won't buy crap we don't need. We'll sharpen the way we live and cut out all unecesary expenses. Oh, and it's healthier too. People don't eat out as much when a recession is going on. USATODAY.com - Recession is good for you?
So, we suck it up for the next few months/years, and hopefully we'll all come out better people on the other side.