jim the rest of the developed world have kept rates at or near zero...for good reason....and those same people have not been going into a debt frenzy...
we were no different here....but our govnuts had an agenda...and sucked some in with the fraudulent spiels...that we were immune to the the GFC....
only the cashed up foreigners were buying up the houses on their easy 1% home loan rates.... how many stock gamblers borrowed to the hilt....under the guise we were immune... now getting burnt....big time.....with no dead cat bounce in sight
