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I think it is a shift in society. I bought everything I need during the 'boom', and now do not need to spend any money. I have all the HDTVs I could want. I haven't bought a new computer or car in years. GM made a car that lasts too long and doesn't need repairing. I have reduced my fast food budget from $3,000/yr ($10/day) to $500. After I buy a new laptop later this year, I will probably not need to upgrade that for 10 years. I do free things for fun now.
I don't need to buy a new home, I like the place where I am living just fine. My whole goal is to reduce my monthly bills as low as possible, something the baby boomers should learn how to do again. They did it once as hippies, they can do it again.
And if I did lose my job, I have plenty of ideas of things to do on my own. I have not noticed any changes around my town to be honest. Traffic is just as bad, home prices haven't changed, and gas prices are still high.
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