{"id":4760,"date":"2009-05-10T11:30:23","date_gmt":"2009-05-10T16:30:23","guid":{"rendered":"http:\/\/www.shotinthedark.info\/wp\/?p=4760"},"modified":"2009-05-10T11:30:23","modified_gmt":"2009-05-10T16:30:23","slug":"a-lesson-lost-on-them","status":"publish","type":"post","link":"http:\/\/www.shotinthedark.info\/wp\/?p=4760","title":{"rendered":"A Lesson Lost on Them"},"content":{"rendered":"

Americans that lived through The Great Recession of “Ought Nine” will not soon forget the lessons learned and in fact US savings rates are up; consumer debt has fallen like a rock.<\/p>\n

In the end, history will point an impeaching finger at liberals whose “high-mindedness” led to the most catastrophic and costly financial crisis in American history.<\/p>\n

And yet…<\/p>\n

Grants of as much as<\/a> [$16,000] to first-time buyers and the lowest interest rates in 49 years have emboldened more than 40,000 young [home buyers] to take out home loans since October, stoking demand for properties that cost less than [$385,000].<\/p>\n

These buyers may be vulnerable when interest rates begin rising, potentially triggering a jump in foreclosures that will drive down property prices, cut profits at banks and damp household spending, which accounts for half the economy. A surge in defaults in America was a key trigger for the financial crisis that pushed the global economy into its worst recession since World War II.<\/p><\/blockquote>\n

History repeats itself indeed, only this is in Australia, where the toilet swirls the other way and lessons are apparently learned the hard way.<\/p>\n

\u201cWe\u2019re mirroring what happened to the U.S. three years ago, when people who shouldn\u2019t have been in the market bought houses,\u201d said Martin North, managing director of Fujitsu Australia, a Sydney-based property-consulting company. \u201cIt\u2019s a strategy set for an unfortunate outcome.”<\/p><\/blockquote>\n

G’Luck, mate!<\/p>\n","protected":false},"excerpt":{"rendered":"

Americans that lived through The Great Recession of “Ought Nine” will not soon forget the lessons learned and in fact US savings rates are up; consumer debt has fallen like a rock. In the end, history will point an impeaching finger at liberals whose “high-mindedness” led to the most catastrophic and costly financial crisis in […]<\/p>\n","protected":false},"author":228,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[51,74,11],"tags":[],"class_list":["post-4760","post","type-post","status-publish","format-standard","hentry","category-liberal-tyranny","category-the-great-recession","category-world"],"_links":{"self":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/4760","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/users\/228"}],"replies":[{"embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4760"}],"version-history":[{"count":0,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=\/wp\/v2\/posts\/4760\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4760"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.shotinthedark.info\/wp\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}