I asked a frivolous question in the last post; over at Marginal Revolution some serious economists have discussed broadly the same issue in a more serious way:
1. Risk Free No Longer - Government Bonds were generally considered the safest investment, but even they can be insured, and the premiums required to do so are rising sharply.
2. Spend More Today - that is the general suggestion to those who expect their salaries to rise, to those who have welfare guarantees, and to those who expect to die soon.
But I leave you with a comment from that article. Isn't real happiness freedom? And isn't freedom in a capitalist/consumerist system money?