Right after news on "the pinch at the pump" and "the pain of inflation", there was a news clip on a country in Africa where there is severe drought and starvation. They showed people walking miles to get drinking water. Crops drying up and livestock dying. Just small grass huts to live in. Malnourished children.
I think the media is creating a feeding frenzy about how "bad" we are having it. Honestly, I would rather pay more for goods and have less of them, if it meant cleaner air, cleaner water and putting the brakes on climate change.
We are reaching peak oil production if we are not there already. Something's got to give. But don't ever ask Americans to be frugal. Look how that worked out when Jimmy Carter asked Americans to turn their thermostats down and put on a sweater.