The IMF chief economist, a Frenchman, told us this week that optimism for the forthcoming year was greater this time last year than now. In Ireland we have had another year of muddling-through: a leader was sent packing back to Clara with a gilded safety-net for life and while our prospects depend on people in places like Santa Clara, we appear to have found in Europe, a foreign Nemesis for our woes. However, delusion eventually collides with reality and while many may prefer dreams to facing home truths, there are long-term consequences from the crash for both Ireland, Europe and the US as globalization threatens an accepted way of life.