The painful lesson of budget deals past is: never mind the official agreement.
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History has taught us a painful lesson that we are poised to learn all over again.
Indeed, that is a painful lesson anyone who borrowed against their home to purchase goods and services has learned.
The economically-strapped U.K. has learned this painful lesson and is finding no alternative but to cut solar power subsidies by half.
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Buyers of these REITs are trading a higher yield for increased risk, and many were taught a painful lesson last week.
Even Europe's economies, tempted briefly at the beginning of 2001 to assume that they could be immune from an American slowdown, learned a painful lesson.
But for others the internet and the dotcom revolution has not meant instant wealth but a rather painful lesson in the harsh world of financial wheeler dealers.
Their manufacturers will learn the painful lesson that their tablets are too small and increase the size next year, thereby abandoning both customers and developers who jumped on the seven-inch bandwagon with an orphan product.
Mr Messier might then learn a painful history lesson: it is one thing to build an empire, quite another to make it endure.
There is however a thoroughly painful and depressing lesson for the banks in all this.
The final lesson is that you can impose painful spending cuts and still win elections.
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One lesson that Nokia learnt from this painful experience was to be wary of acquisitions.
So as painful as this day is and always will be, it leaves us with a lesson that no single event can ever destroy who we are.
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