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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (227407)	11/4/2009 3:45:32 PM
From: Elroy Jetson	Read Replies (1) \| Respond to of 306849

Positive interest rates are a sign of economic strength. Australia has higher interest rates because their economy is far stronger than ours. They're not debilitated by our post-9/11 credit bubble. During America's credit bubble Australia raised their rates while America lowered rates to near zero. I was earning 7% on my Australian savings accounts while interest rates here were 1%. It's one reason Australia's real estate boom never became as excessive as ours. Another reason they didn't experience a catastrophic real estate bubble is that personal residential mortgage interest is not tax deductible in Australia. If you want higher interest rates we need a stronger economy. And if you envy the strong economy in Australia you also need to envy their financial responsibility which created it. Reaganomics has devastated America and it's time for a return to sanity before the damage becomes far worse. Knowing you wish to emulate Australia's prosperity I look forward to your posts in support of Medicare coverage for all Americans and higher income tax rates sufficient to balance our budget and pay off our national debt. .