The Next, Hard Part

Next comes the hard part. We are left watching as a large section of society…those who believed in the promised recovery, and those who believed that the troops would be coming home as promised…have their hopes dashed on the hard, rocky shores of reality.

Admittedly, if polls are an indication, the tarnish has worn away on much of the hope anyway. How could the shine remain with an accelerated rush toward a MUCH wider war in the Middle East, and the economic train wreck continuing to plow into that same, reality mountain.

Canada and Australia, two of the only countries who missed most of the first stage of the Global Financial Crisis (GFC), are about to be hammered by the next, bigger decline. The severity of the collapse will shock these two nations. I expect home prices in these two countries to fall by 30% over the next 18 months.

For those residing in nations which have already experienced a major recession, many still cling to the hope that ‘the Gov’ment‘ will fix it. They must think that, having no alternative because they now rely on that same government for their very existence. They are prisoners, really, of the government, having given away their freedom bit by bit in exchange for promises of security and comfort. They count on their government pension, their government unemployment insurance, their government medical care…need I go on?

But they have been sold a lie. A brilliant lie. A nefarious lie. An evil lie.

And now, as I said in the opening, the many who have had the scales removed from their eyes are left to witness those we love get decimated.

It won’t be an ‘I told you so” moment.

It will be a very sad one.