I think it's very much possible to live within the means of our planet. We have the technology and the knowledge to create sustainable cities and production systems. What we lack is the awareness and political will to transform our societies. We really must understand the importance of global and local climate action and the de-carbonisation of our economies, while we also focus on using our renewable resources more sustainable than we currently do. That means we need to change our lifestyle and reduce our wasteful consumption levels - and yes, that means we need to make some drastic changes (almost revolutionary changes) to our way of life. Becoming a vegetarian or a vegan is a good start.
Earth Overshoot Day marks the day when we will have used more resources from nature than what our planet can renew in the whole year. Once we pass Earth Overshoot Day we are borrowing resources from 2018 - and yes, that means we are literally consuming our children's resources.
And Earth Overshoot Day happens earlier every year. In 2007, just ten years ago, Earth Overshoot Day took place on the 6th of October. Our ecological footprint, especially in the West, is extreme and unsustainable at our current pace. Our natural resources, like trees and fish, continues to shrink, while our waste, primarily carbon dioxide, accumulates.