Thoughts about money

With the global financial crisis dragging along as it is and one worrying news after another sprouting from the worlds largest economy. It doesn't look like an end is near even though experts predict that things might start picking up after 2009. I can barely remember when these same experts claim that things shouldn't get worse after mid 2008. Major crises such as this one creates worries as well as hope (in the form of new opportunities). Do we hope or worry is entirely up to us (but is it?).
The BIG THREE are reporting worrying numbers and are clawing for help from the Feds. It didn't seem so in the beginning when their CEOs flew to attend the meeting with congress in cash buring private jets. Well that totally blew up in their faces. I'd say it's a good thing. Something like that just points out issues that these people should look into and (hopefully) change for the better.
On the local front, UMW posted higher earnings due to higher sales of Toyota cars. A slightly surprising news but I suppose to full brunt of the financial crisis hasn't really hit our shores just yet. Even though it seems that we're not yet much affected by the crisis but the signs are there. Even MAJOR players like SIME, Petronas, etc etc are taking prudent measures to control capitol outflow. Everyone is cautious about expenditure, delaying home purchase, new car purchase etc. What is the normal guy (or gal) on the street to do in these worrying times?
Being asians, our mindset is that of making sure we have savings for the rainy days. How strong does this hold true? Youngsters these days are embracing the credit card lifestyle. Purchasing items beyond their means. How hard is it to get a credit card these days? I do wonder how things will be when the financial tsunami hits our shores.