Ask HN: We have no hope of digital privacy, correct?

After reading up on PRISM and certain privacy guards, it seem to me, we have little to no hope of digital privacy. Is that a true statement?

Sure, it's possible to encrypt our data and hide our tracks from the local coffee shop "hacker" but what about the US government? Do we just accept the inability to have some sort of digital privacy? If so, is that fact nothing more than a minor changed state of mind? We now have to admit the NSA is collecting data on us, do we just shrug our shoulders and go on with life?