Regards

That said, I've been in the position of spending to look better than I am. I had to take a long, hard look at myself and my situation and it took my three years of struggling and sacrificing to get out of debt. I keep myself in check enough so that I never have to go back to this place again.

It's a great mark of your character that despite living among those who wanted to flash their wealth, you chose to live within your means. Good for you!

My point in saying all that is this: While The Crisis is certainly a bit scary for all of us, those of us who already have trimmed our waste and spending habits because that's just how we live, are having a much easier time than those who didn't.

This may sound horrible to some: I recently moved to southern CA (from the country) and was shocked at the size of homes here, their prices, the vehicles people drive and how they drive them. Especially being an Easterner, when I saw the LA traffic on the news my first thought was, “Haven't these people heard of trains?!”
I don't feel all that bad for people who've been trying to keep up with Joneses and spending way more than they make and digging themselves deeper and deeper. I have debt, but I am careful. I know my means. Beyond all that, wastefulness makes me mad simply because so many people have so little. What person really needs a house whose size isn't measured in sq. ft. but in acres? No one does. It's disgusting.

Sorry. I got way off target here. My whole point was this: Many people who have lived middle class or lower middle class lifestyles before now already know exactly how to tighten their belts and ride out the storm. They are the people who don't need to read about getting rid of the movie channels from their TV package because they don't have them now.

(Also, Chad @Sentient Money — You are SO right on.)