Do You Believe That We've Prematurely Used Up Our Planetary Resources?

If you believe FootprintNetwork's claim that humanity has already begun to live beyond its ecological means, then we are currently operating under a planetary deficit "utilizing resources at a rate faster than what the planet can regenerate in a calendar year." 

They further state that "in less than 10 months, humanity will have used ecological services it takes 12 months for the Earth to regenerate." Does this make you panic or do you just feel like shrugging it off?

The following formula is what they used to arrive at such a scary notion: [ world biocapacity / world Ecological Footprint ] x 365 = Earth Overshoot Day Day

If you question their calculations, what are your thoughts on humanity's inclination to consume and allow waste to build up -- is there any chance that FootprintNetwork's accusation is even partially accurate?