Debt crisis a reflection of 9/11?
Now, I heard this come up on a talk radio station today, and while I've not formed an opinion on this yet and am not even sure I agree, I thought it was interesting enough to bring up for discussion.
The hypothesis was that the attitude of many Americans changed as a result of 9/11--we became a 'live for the moment' group of people rather than a 'plan for the future' group. 9/11 affected us so deeply that we adopted the 'eat, drink, and be merry, for tomorrow we may die' attitude and started spending like crazy. This lead us to overdo credit, seek bigger houses and bigger cars and more stuff than we really could afford, and so forth, and this mass overspending has come back to haunt us now.
Obviously the credit/debt crisis is far more complex than this one issue, but did 9/11 have that level of sociological impact on spending habits?