"The normalcy bias, or normality bias, refers to a mental state people enter when facing a disaster. It causes people to underestimate both the possibility of a disaster occurring and its possible effects. This often results in situations where people fail to adequately prepare for a disaster, and on a larger scale, the failure of governments to include the populace in its disaster preparations. The assumption that is made in the case of the normalcy bias is that since a disaster never has occurred then it never will occur. It also results in the inability of people to cope with a disaster once it occurs. People with a normalcy bias have difficulties reacting to something they have not experienced before. People also tend to interpret warnings in the most optimistic way possible, seizing on any ambiguities to infer a less serious situation."
What reason is there to think that things here will go any way but down economically?
Which do you regard as most probable?
1. America's economy recovering from the present severe downturn as it has done in the past?
2. A severe economic collapse followed by a permanent decrease in the standard of living of Americans?
What reasons can you give for optimism, if any?
Or are most Americans in a state of normalcy bias?
Blythly walking toward a cliff with no appreciation of it whatsoever?