There's a biblical story about seven abundant years and seven years of famine, and, collectively, we forgot to read it.

We're all at fault, really. As a nation, we did not invest the profits from the good times in new roads and bridges, or in spending that would have bettered America and created new jobs; instead, we spent them on a disastrous war. As individuals, those of us who profited from the boom (which is pretty much most of us, because even if you're middle-class and your real wages didn't grow, chances are that you've got a nicer TV than you had eight years ago, and a better phone) did not save for a rainy day the way we should have.  more...