OT: "we have a populace which is woefully unprepared for tightening their belt and bad times"
Because they, the sheeple, have not in their recent memory been asked to sacrifice for any of the challenges we face. After "911" we were told to go out and buy SUVs. We have a war going on, and huge tax cuts at the same time. For the first time in our history, I believe.
Politicians aren't telling the sheeple the truth, because they think that is not the way to get elected. "Don't worry; be happy. [And go out and spend, spend spend.]" That is the message the vast numbers of people are getting, still. But this election proved, I think, that there are enough people out there with at least half a brain, that can see through the "don't worry; be happy" message.