We missed hearing the ‘songs’

One could write a great “country western” song about the world’s economy.
It could be called “I got sideswiped by the economy,” or perhaps “I dreamed I could retire.”
Sounds funny but in watching my RRSPs right now, both titles would be applicable.
London Life had me convinced that “Freedom 55” was only half-a-decade away when I turned 50. Today, “Freedom 55” is now a decade away and I’m now past the age of 60.
That sailboat in the Caribbean is now a distant dream. And now the song is “Your cheat’n dream.”
The song would have to talk about a wasted decade of saving. It also would have to have some hard-nosed lyrics that spoke of the necessity of never saving a dime when you can spend a buck.
We might even steal some lines: “In a time when the world seems unstable, feels like the worst has the best of you and nothing goes right ’cause you’re not alone” from Pink Cream 69.
I guess we really aren’t alone. As a Canadian, I feel very fortunate to be living in Canada today rather than in Greece.
And while many Americans are worried they may not have a roof over their head a year from now, most Canadians can feel smug that we were not caught up in the mortgage mess that is found through much of the U.S.
In a little over six months, we’ve watched as markets have shed almost 20 percent of their value. And my dreams dashed by me in a blink.
Now this could be a sad ballad with remorse and pining. Or it could be an upbeat, humorous song with laughter and frivolity. We might sing, “I laughed so hard it made me cry as my savings slipped away.”
Or it might be the “dream castle was only paper anyway.”
No one could have written successfully about the world financial markets this year. What began with optimism today resembles pessimism.
Gold has not lost its lustre, nor has silver. Canadian oil continues to hover close to the $100 mark for a barrel, which is much stronger than a year ago.
No one expected the financial crisis in the U.S. We were unprepared for the potential default of nations in Europe The spring uprisings through Egypt, Tunisia, and Libya all have impacted on us.
The world is a smaller community.
Who might have believed that slowing of manufacturing in China would impact North America? Who would have expected that European nations facing financial ruin would come to haunt banks in Canada and the U.S.?
The world markets are fickle. And in 2011, we have learned how fickle love can be in stocks and bonds and economies. And now it comes to, “Who do you trust, Who do you trust?”
Most of the songs already have been written about the economics and stocks of 2011. We just didn’t pay attention!

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