THE ECONOMY AND A SMALL TOWN IN A BIG REGION OF ONTARIO

I don't play the stock market, and generally, the only speculative activity I'm guilty of playing-at, involves my life-long interest in antiques and art. It's sort of part and parcel of being an antique dealer for the past two and a half decades. I've been dabbling in antiques since I was a kid but the "for-profit" business side didn't begin in earnest until the mid 1980's. Before this I probably lost more money than I made, as an antique picker. Looking back now, geez, I've survived a few dandy recession periods and haven't lost my investment value. The key reason. I am a bargain hunter. I buy low. And in some cases, I sell really high, as determined by auction. Sure, there have been some stinkers along the way, that I sold on a break-even basis. When I hear and read about the great losses being suffered by stock market investors, well, I can look at the paintings on the wall, the old books on the shelf, and the antique furniture I still possess, and heave a sigh of relief that my investment has substance. The only way most of my pieces will go down in value is if I sell them during a particularly bad time in the local market. Having investments you can live with, because they won't sell at the time, isn't so bad if you make a practice of purchasing what you like….and what you find appealing to the eye. Antique and art investing has its pitfalls like every other investment. Education is the safety net. Some folks just like to be closer to their investments than others.

I have a great deal of fear for young folks, if this latest news, of a double-dip recession is true. So many are in serious debt, with credit cards, lines of credit, car loans and mortgages. They don't have the experience needed to appreciate how devastating and long lasting a down-turn can get, and what they stand to lose. For many the stress of losing a job and missing payments….leading to repossessions, will seriously affect their family lives. There's nothing like money-issues, to turn family members against each other.

When my wife and I were kids, we were constantly reminded about austerity and what it had been like navigating the Great Depression. What have modern day parents done to educate their offspring, about the ruination caused by excess? Not much. What some youngsters spend on cell phone bills per year, is what my parents used to make in wages, over a year. And that was the 60's. Not the 40's, or 30's. If you knew the stats on the average cell phone bill, for the under twenty age group, I think we'd all be shocked at how irresponsible and frivolous spending has become. Debt isn't feared as it has been in my day, and the time of my parents and grandparents. And all the advisories of sage folks, who have remembrances of tough times, have largely gone unnoticed. Even by the governments that are supposed to look after our resources. The age of excesses is coming to an end, and if it isn't this year, it will be sometime soon. The reality check will be brutal, and the casualties will be many. And the client list at the local food banks will escalate beyond our capability of supplying.

I have written about this often in the past year. I'm particularly disturbed by the way our own town and district are spending money we don't have. I have grave concerns about the cut-backs we will all be forced to make, when it comes down to the actuality, our tax base is much less than it used to be….. and all that's needed to tip the scale is the decline of the real estate market, and the decreasing value of the real estate we've banked and leveraged so heavily upon. A pro-active town council will close the barn door now. And while there are projects I wish to proceed, there is a time when even the loyalist and untiring advocate, has to admit, we simply can't afford what comes down to an extravagance, when something else could work in a pinch. We are not prepared, in this town, or in this district, and it will undoubtedly mean many projects will have to be shelved, or left on the drawing board for another day.

Choices. If sinking isn't an option. Well, then swim and swim well.