“We’ll be home before Christmas” was the optimistic prediction made by soldiers as they headed off to war in August 1914.
The term has become a popular catch phrase for describing those making overly optimistic predictions on any given situation.
The ongoing global financial meltdown, I believe, is one such case. Experts seem to believe that within one or two years things will begin to improve, I disagree.
This is the worst financial crisis in history further complicated by the fact that it comes at a time when natural resources are rapidly dwindling and the global environment is showing clear signs of irreversible damage.
It could be seen as a perfect storm that may result in a long term global depression. The Great Depression that started in 1929 lasted until the early 1940s when, grotesquely, it took mass destruction and the killing of over 50 million people to kick start the world economy.
At best, I would say we are looking at a five year global depression that could even stretch to ten years. It’s more difficult to predict whether we’ll see soldiers heading off to yet another world war promising to be home before Christmas but given the vagaries of human nature it’s not beyond possibility.