Once these bubbles in the stock market, bond market, and housing return to normal and interest rates normalize, we will probably have been through a 70% crash in asset values, then we won't seem so rich.

Every Progressive country on the planet has the same problems: aging population, declining birthrate, declining workforce, declining economic growth, and the cost of their social welfare programs is growing between 3 and 10 times faster than their economies.  I think we can look forward to a worldwide depression within the next 2-5 years if we don't change the way governments do business, and it will be worse than the Great Depression because our bubbles are twice as inflated.

I doubt that the EU will survive two years.  In their attempt to grow the number of people paying into the system to support it, they opened the door to Muslim immigration because they're young and have a high birthrate.  But it's backfiring because they're going on welfare, making the situation worse.