I don´t think people realize how little the former government did, and now with their opposition strategy they are in fact gaining support little by little. They only have to criticize the cuts and call them "right wing" and people will flock to them. We don´t want to hear bad news, and when you have had 3 years of them, some people is asking for somebody to sell them the snake oil that will bring everything back to 2005.

People have been getting mortgages way over what's reasonable. Local banks have been getting credits to provide these mortgages they knew were unreasonable. Foreign financial institutions have been lending money and allowing debt levels to rise uncontrollably. Industries everywhere have benefited from all this available money to sell more product (esp. houses). Politicians, companies and markets have emphasized and focused on short-term benefits over any kind of long-term strategy.

Everyone, everywhere has stood by and let this happen, because everyone assumed that everyone else knew what they were doing. Voices of concern were quickly silenced. Nobody wanted to be the party pooper, nobody has done anything to prevent this, nobody wants to bear the responsibility for what has happened, and nobody knows how to fix it.

I completely agree! and once the party is over the panic is going probably too far too.