I’ve written on this topic before, so I’ll try not to repeat too much. I think that the peculiarly American brand of gung-ho optimism is partially responsible for our recent economic meltdown. The “What Me Worry?” attitude hurt us. I ran across this quote that I think sums it up nicely:
“What passes for optimism is most often the effect of an intellectual error.”
I don’t know who this guy is, but I think he summed up the housing bubble / Wall Street idiocy quite well.