The problem is that if the debt buyers take talk like this seriously, the interest rates WILL go up, and a lot more than a couple of percent. We've got to hope that some adults in his organization sit him down and talk some sense into him about global economics.
The “long run” that Keynes so airily dismissed worked out well for him and the other New Deal folks — he and they are actually dead. But now the rest of us are going to have to demolish the economic house his theories built on a foundation of thin air, Monopoly money, and promises to repay.
Will it be an orderly demolition or a collapse? That will be the fundamental question over the next two or three decades, I think.