Then again, maybe Americans are just whining crybabies who have never had to put up with hard times (or at least, not for the last 70 years) and we can't handle not being on top of the heap. Look at the Brits, after "winning the war" they found themselves in a profound post-war economic slump.
Inflation, unemployment, civil unrest, industrial strikes, teddy boys, even rationing. They went from (in their opinion) the leading nation of the world to just another player in the small pond that was Europe. And they had to give up their empire, which was more of an anchor on their ass than they had ever dared admit to themselves.

Every empire has hard times after it peaks. It doesn't necessarily mean catastrophe, and it isn't even the end of the world. After all, England in the 60s was an exciting place to be. They saved America's black Blues from oblivion and gave us the Beatles in return for our Elvis. They were the Greece to our Rome. And they are still around today, and they are still a player. It's just that the sun no longer rises and sets on their royal ass.

I remember the 60s when we were beset by racial unrest from blacks and race riots from whites, student revolt, Vietnam, hardhat reactionaries and profound social changes. For the old farts reading the news to us, it was the end of the world. For me and my contemporaries, "there was music in the cafes at night and revolution in the air".

It was a very optimistic time for young people. Shit, I was the first person in my family to ever go to college! We were at war with poverty and racism and militarism and we were going to conquer the solar system, maybe within my lifetime!

So what did the 70s bring us? The peak of American power and prosperity? Watergate, Disco, Afros, Leisure Suits and Jimmy Carter.

And of course, I prospered like crazy during that time. But of course, I was in my 20s. If you can't thrive in your 20s, regardless of the times, you are a sad case indeed.