Economists have predicted 9 of the last 2 recessions.
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Surely 10+% interest rates are coming as the banks try to recover the long term average mortgage interest rate of around 7.5%. History repeating from the 1980’s only this time the impact will be catastrophic - too many mortgages will collapse or owe more than the property value.
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Seriously? Let rampant criminality go because it would cause economic problems? Ffs the west had become pathetic
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Translation: Borrowers were sold the concept of ever-increasing housing prices and suffered the short term dichotomy between borrowing costs and rental values, expecting capital gains to cover cash-flow losses. When (not if) the music stops, those without a chair will sue.
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The old "we're too big to fail" defence... Always a winner...
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So basically all the growth measures since 2008 lead to another recession. Economics is a science...
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They said it would happen if we had a RC. Time to point and laugh at anyone who still defends banks.
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