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re: The Current Prime Lending Rate is 3.5%. Volker raised it to 21% in 1981 to beat inflation
Posted on 3/9/22 at 8:41 am to RiverCityTider
Posted on 3/9/22 at 8:41 am to RiverCityTider
quote:
What would the effect be of rolling over 30 years bonds at 12 or 13% at the current debt level?
Our government goes t*ts up. We'd be paying more for interest on the debt than we do for Social security or defense at that point. It would be a largest government expense. So either the government would have to increase tax revenue by 30-40% across the board, or we'd have to cancel Social Security... quote:Absolutely not possible. We have too much debt.
Is it safe to say that such a strategy is not possible today
This post was edited on 3/9/22 at 8:42 am
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