Here is my comment to Angus over at the Kids Prefer Cheese blog.
Wasn't the who cares argument also used by Lehman, Bear etc when they were looking at risk?
"Who cares if housing prices go down 50%, we are making a lot of money now!!"
I think your failing into that trap Angus.
Where's Admiral Akbar when you need him?!?
I care less about economic performance now than I do about econ performance later. Meaning, I want a stronger economy for my kids than what I have. Most of the thinking, which indecently I think is a boomer generational thing, is all about the now and the me.
I say boomer generational thing only because it really started to hit in the 70s and 80s, then as the boomers had kids (Gen X), they too became even more infatuated with the now over the future. Now we have the new generation that hardly ever thinks of the future, because their parents (Gen X) and their grandparents (Boomers) taught them not to.