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Those of you who have spent time with Australians know that we are not given to overstatement. By nature we are laconic speakers and by conviction we are realistic thinkers. ↗
Homeowners who refinanced their mortgages took out cash and reduced their monthly payments at the same time. Much of the cash obtained by refinancing was spent on consumer durables, home improvements and the like. ↗
Now the proposal is yet again another $150 billion before we start to think about a freeze. But $150 billion spent on more government programs; monies being created to direct and what kind of jobs that Washington thinks ought to be created. Come on. I mean there is a government that can help, and the government can also hurt. ↗