A lot of it is the "panic" mentality which I blame on the media - everything is "breaking news". There is even "breaking news" now that you have to wait for the commercial. Just a couple days ago I couldn't believe "Breaking news - an X happened @ Y" - details after this break". Pleeeeeeez. Regardless of what you think about Michael Moore or Bowling for Columbine, the point he makes regarding the above mentality is very true. Hordes of people across the country running out to buy duct tape?
I don't think we are inherently that stupid, just grossly uneducated. As far as myself, many months ago I decided that 2003 was going to be a year of spending miles and points, and saving some $. I am as likely to go to the middle east now as I was a year ago - 0%. I have no desire to go to Europe now, and I don't know if world events have any impact on this, but I'm sure if I run out of tea, London would be on the itinerary shortly....