Yeah, a fool and their money...
The issue is solely that there are THREE BILLION people coming up in the world and competing for YOUR food, YOUR job, YOUR dollar. Some are bound to be smarter, and therefore will win.
We are all at risk of this, those of us who make smart decisions will fall into normalcy, those of us who dont, will live like the third world.
And its not like having it worse than now is so bad. Lots of people love the 50s and 60s as a wonderful time... But think about how many TVs, radios, stereos, computers, refrigerators, freezers, etc. they had compared to today. In many households where the numbers for all these things would have been one back then, it is now "multiple".
The combination of competition plus a history of unsustainable living is what is going to cause some peoples' standards to drop.