Define how we’re better off than any other time.
We have more debt on the personal, corporate and government level than at any time in history, and we’re reaching for the stratosphere.
In many ways you can say we’re more vulnerable. In prior depressions people have gone home to the family farm where at least they could eat. People today don’t even know how to garden, let alone have a farm to fall back on.
Additionally, we are reliant on services provided by public utilities - electricity, water, sewer - and reliant on cars to get to work. Any breakdown in those areas due to money difficulties/bond failures is going to leave a lot of people without any thing to fall back on. At least in 1873 there were a lot of outhouses still in existence :)
Think Katrina. How long did it take for New Orleans to become a hellhole due to lack of services, no food, and gangs of roving thugs/looters ?
You first.
"We have more debt on the personal, corporate and government level than at any time in history..."
Over $51 trillion, and we owe it to each other. That means Americans own more stocks, bonds, mortgages, and hold more IOU's than any time in history. This is what happens when an economy expands, and an expanding economy is a good thing not a bad thing.
In prior depressions people have gone home to the family farm where at least they could eat.
What a blast from the past, I didn't thing anyone still actually believed that. That notion was all the rage about a hundred years ago with farming co-ops like the Grange. My grandfather got conned into believing it and may dad almost starved to death.