Clear trend that people in the west are discouraged about the future, and they should probably should be for all the reasons most are well acquainted with by now.

Overall, I think this becomes a question of time preference. Over the short-term, it is easier to become discouraged. Over the long haul, innovation will continue to find a way (as much as governments try to beat it down) to continue improving the living conditions of the world's population as long as people are willing to do the work.