However, rates should’ve started going up within 4-5 years after the 2009 financial crisis.
*****
The era of cheap money is ending.(Good riddance)
Things are going to get VERY interesting.
Plus, debt servicing for the Treasury just went through the roof.
👍
The system is on life support, and I wonder if this is going to “pull the plug”.
“Things are going to get VERY interesting.
Plus, debt servicing for the Treasury just went through the roof.”
Many people thought the bankers were bluffing because of the large national debt.....apparently they weren’t bluffing.
Every 1/4 percent interest rate hike adds about 75 billion to 90 billion in debt servicing.
I’m not worried, the debt will be serviced, but hopefully some budget responsibility is carried forward.
The Federal government doesn’t need a surplus but receipts & outlays should be in the ballpark.