The End is Near!

Signs are emerging that the end of this devastating recession is near. The markets continue to move upwards, as they have for the last two months. What does this mean for you and I? In the cycle of things a boom tends to follow a bust. As Adam Smith suggested in his "Wealth of Nations", an invisible hand really is at work. Granted, in this case it had a big push from world governments and their economic stimulus packages, but it is happening.

It's not only the markets that are returning to life. In the U.S., the epicenter for the current world crisis, for the first time in months construction spending was up in March. It has been sometime since we heard of a major world bank or investment company in trouble. It's true the auto sector continues to suffer, but there are signs even this industry is finding it's legs again. The changes have been painful, but the North American auto companies and their stake holders appear to understand that drastic change is needed to make the industry competitive.

There will be further hardships. More people will lose their jobs. Others will see their hours cut. In the end we will be faced with a very different economic landscape, but we will be better for it. In particular Canada is positioned to do well going forward. Our strong banks and conservative values virtually assure we will be leaders in the new market reality. We could be on the cusp of Canada's golden age.