- 27 August 2016
Obama vs Rudd
When the northern hemisphere financial crisis hit, Obama moved to prop up the mortgage originators called Fannie Mae and Freddie Mac by some $251 billion as some mortgage holders left their properties and posted the keys back.
By keeping both these institutions alive with these funds the economy was allowed to continue breathing and instead of losing money the US Treasury has now seen this $251 billion returned in dividends from the living and breathing mortgage originators. What a shame that Kevin Rudd didn't follow this example of the US Treasury.
The US Treasury also supported their ailing car industry with billions of dollars of loans. These loans attracted interest and these loans kept people in their jobs. They were also paid with interest to the Treasury! Read about it here.
What did the poor Australian tax payer get out of Rudd's similar largess? Whoops, nothing!
Will our government learn from Obama?
I hope so.
Kevin Young Club Founder of Property Club
Related Posts
The Suburb Lines That Make or Break Property Prices
On a Saturday morning in Brisbane’s leafy inner-west, you can see the quiet theatre of Australian property ambition. Parents with clipboards trail real estate agents from one open home to the next, whispering about “catchments” like they’re trading inside information. They’re not just buying a home. They’re buying a...
Real Investors Don’t Rely on Realestate.com.au
Every day, thousands of Australians scroll through realestate.com.au thinking they are researching property. And while the platform is excellent for browsing and comparing, it is not where professional investors are finding their best deals. In fact, if it is on a public portal, it is already being sold to the...
You Don’t Have to Love Property to Let It Make You Rich
Some people live and breathe real estate. They watch every auction show, follow suburb rankings like a sport, and talk yields at barbecues. But here’s the truth most investors won’t tell you — you don’t have to love property to do well from it. You don’t need to renovate. You don’t need to be passionate. You just...