Paris Tragedy will not Slow the World

Hollande, a man determined, is another Churchill!

This man is determined, and has the personal and national resources to see this war through!

Just when you thought there were no words…there they were! “Not Afraid”

This is a week like no other.

In no way do we take away from the tragedies occurring across the Middle East or elsewhere in the world, by focusing on the terrible events in Paris last Friday.

“NOT AFRAID”. This was the immediate response and it is more powerful than any series of terrorist bombings or shootings will ever be. Despite being told to stay indoors, many Parisians instead flooded into that same square as they did earlier in the year in response to the previous terrorist attack there, to send the ultimate message. “You can be barbaric, but you cannot win. You harm only yourself. For there is no heaven for terrorists. We are not afraid”.

Paris will be greater, stronger. We all will.

Onward through history, Paris, the French people, and the free people of the world will thrive!

After Putin, President Hollande is now the second world leader to take the gloves off. Also the recent direct, honest and meaningful discussion between President Obama and President Putin suggests a real prospect of effective co-ordination against Daesh going forward.

Certainly, it has been the US leading a significantly successful campaign to date, but we are now talking about all out War - with the stated purpose to totally obliterate these very dark forces from the face of the earth. We are campaigning against Daesh, not just because of what they have done in Paris, but because of what they do to their own people in their own territory. These are brutal, dark thinkers who cannot be dealt with in any other way. Russia and France have taken the gloves off and are prepared, and indeed will, go all in. This will include large numbers of troops on the ground wherever Daesh is to be found.

In the past week the US has said Special Forces would join the ground war. The overall campaign looks to become far more significant and determined on the part of all parties, than it has been up to this point. Now they will be completely overwhelmed by Russia, France and the US having troops on the ground, as well as other coalition members, including Australia, remaining involved in the air campaign. This really is the beginning of the end for Daesh.

This is why for economies and markets everywhere, there should be no negative reaction to these events.

In terms of the Australian property market itself, there could be the slightest of caution by some buyers at auctions around the country this weekend, but that should be about it. That should be the full extent of any impact on property here.

The issue was one that needed to be addressed however. Rest assured the response of President Hollande and others will resolve the problem.

Clifford Bennett,

International Economist