Why Recession Could Be the Perfect Storm for You

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Why Recession Could Be the Perfect Storm for You

I know I'll be unpopular for saying this and I'm almost a bit embarrassed to tell you, but I think this is a great time for people to get into debt!

We had a very bad recession in 1973-4. That time was characterized by exceptionally high interest rates coupled with severe inflation resulting in a very high cost of living; in 1974 there were petrol shortages and long lines at the gas pump!

We are supposedly experiencing the worst economic conditions since the Great Depression and yet there is no looming war or imminent threat of destruction. We are living in a time of relative peace.

The government want us to spend money and borrow to invest. Interest rates are at an all time low - there is no reward but rather a penalty for savers.

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	Rates are the lowest they've been in close to 30 years. Refinance now to get a lower rate, save on your monthly payments and turn your adjustable into a fixed rate and get fast cash!

Finally asset prices are at historical lows. Shares and property are ridiculously affordable.

So, unlike The great Depression or the recession of the 1970's we have low interest rates, low asset prices, low petrol prices and cost of living (inflation is coming down - in fact the new fear is 'deflation' or falling prices!) and no threat of a war or other major upheaval.

OK, so people over-borrowed and banks over-lent and now everyone's doing the opposite; but this is not the end of the world, this will work itself out. The government is throwing everything including the kitchen sink at the problem - it's not taking any chances, we will get through this.

So what's going on, why aren't people capitalizing on the situation now that all the planets are aligned for a once in a lifetime opportunity?

Fear. Investors are afraid things will get worse.

But the fact is that in this strange new economic landscape risk is safer than ever because it is rewarded and playing it safe will actually cost you money. Savers are being penalized and investors are able to buy undervalued assets at low rates.

As Warren Buffet famously said:

"Be fearful when others are greedy and greedy when others are fearful."

People are scared - it's time to get greedy?

A professional consultant is always available at Loan Choice Direct, so please call us (1-888-523-8523) today to find the best solution for your needs.

You can also apply with our quick and easy application and one of our loan specialists will be in touch with you shortly to discuss your options.

About the Author

Dominique Grubisa is a practising Barrister with a commercial law background who is dedicated to helping indebted consumers in this current time of economic crisis. http://www.aussiedebtrescue.com


	Rates are the lowest they've been in close to 30 years. Refinance now to get a lower rate, save on your monthly payments, or eliminate your adjustable rate and lock in a low fixed rate!

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