Rome is burning....

I have been in the finance industry long enough to remember that any bear market is never fun. I have survived the Asian crisis, LTCM, Russian default, the IT crater in 2001/2 etc etc. Basically, all the implosions since 1995/1996. However, I honestly can't recall things ever get this bad. Thus far, I remember Australia has always managed to side step other messes in the world. It would be a miracle if history repeats itself this time. Truth be told,  this is the first financial crisis that I get to observe up close and personal.

I suspect we are going to take the cake this time.  4 of my immediate family members lost their jobs in the past 2 months - my better half + my brother and his wife + my sister. One of my friends recently lost his job. My better half went to a high school gathering last night - 2 of her closest friends lost their jobs last month. I shiver to think what happens if I lose my job with 2 young kids and a wife......

By the way, listening to Coldplay today certainly doesn't help my mood. I don't think my family situation is that unique, although in terms of GFC-related job loss, we are hard to beat. What does this personal anecdote have to do with property in LNS ? 

Lest we have any illusions, don't hope. This is a complete reset of the financial system as we know it......Be patience.......This is a marathon and whoever can hold on longest wins.