It is a tough situation to be in. We are approaching a fiscal cliff. We want to give money to everybody, we want to save everybody. But in the end we’re not going to save ourselves. There seems to be no opening, no passage, through which we can escape the consequences of our decadence. As Gustave Le Bon explained over a hundred years ago: “[A person of superior intelligence knows] that those nations which are on the slope of decadence will continue to descend. He knows that institutions cannot be changed at the will of legislators, and seeing that the Socialists desire entirely to overthrow the institutions on which our civilizations repose, he can readily predict the catastrophe which will follow such events.”"Falling Down." By J.R. Nyquist, Financial Sense Online, 12/10/12.
More optimism here: Charles Hugh Smith.