As one of the latter group, it's safe to say that, at that time, almost no one was listening to us.
My own predictions had been that, as the economic decline progressed, there would be several major stages of decline. But, in addition, there would be three major stages of denial by the great majority of people, and it is that denial that is the subject of this article.
1. The Initial Crashes
Although the initial crashes that occurred in 2007/2008 were, by far, the easiest aspects of the Great Unravelling to predict, their likelihood was, predictably, rejected by the greatest number of people. The reason for this is that the crashes represented a change of direction – from positive to negative.