Keep Waiting, The Double-Dip Is Coming.

And it's going to be ugly.

Housing markets in the following countries are in bubbles similar to (or much worse than) the one that led the USA and then the world into a Depression (a.k.a. the Great Recession):
Australia
Canada
China
Spain
United Kingdom
plus a handful of smaller ones.

China, a communist command economy, is very shortly going to blow sky high. Trillions of dollars in unrecoverable loans are in default in China. Not even a communist dictator's rifle can make this go away.

Greece, Portugal, Spain, Italy, and a few smaller nations are pushing the entire concept of the Eurozone to the brink of destruction with their sovereign debts not looking so good.

And if you think the USA is headed out of the woods, consider that, with the economy basically stalled and our sovereign debt levels increasing something like $1.8T this next year, Moody's is warning that the USA's credit rating may be headed for a downgrade. That means it would cost us more to borrow money, which Obama seems to love to do, which means our children will owe even more than they are already looking to owe.

I, like Michael Shedlock, look for some Very Ugly Numbers (he calls it a crisis) before they are old enough to take over, but there is another generation growing up. They will realize, whether government educated or no, that their lifestyles suck. If it is because they owe a few trillion dollars their parents and grandparents pissed down the toilet, they will be the ones running the show, and they will be saying "Why the hell should I have to pay that back?"

So. Standby.