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Originally Posted by A Very Super Market
The short-sightedness of consumers astounds me.
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I don't see it as short-sighted. I believe that this entire economic mess was caused by an overvaluing of the world economy. The world wanted to believe it was rich, then suddenly it found that resources didn't quite add up to the value it hoped for.
I think that we're looking at the mechanism of a self-correcting economy. The world is in a defacto fiat golden age - money no longer equals a tangible resource. In the US, this means that there will be just as much bread to feed the masses tomorrow as there is today. The amount of dollars around to purchase said bread is what will change, but the market will adjust to accomodate the basic need for the bread.