Every time I turn on the TV (which is less and less often these days) all I see is negativity and fear. Frankly, I believe that we should learn from all this and realize that we can't just buy things with no thought as to how we will pay for them and to take responsibility for our poor choices both financial and otherwise. Is is really a bad thing that it's not quite so easy to get a huge mortgage or a credit card?
A few years ago Mike and I were thinking of moving for his job (we didn't). We even started looking at houses and got pre-approved for a mortgage. The bank approved us for a ridiculously large amount that was DOUBLE the price range we were looking at. What if we had gotten ourselves into that kind of house payment? Just because a bank or credit card company is willing to let you spend the money doesn't mean you should. Sometimes we have to learn that the hard way, don't we?