This doesn't really make sense to me. One sentence you're saying the Fed will "press the cost of the debt...lower...and hold rates low permanently." If I'm re

This doesn't really make sense to me. One sentence you're saying the Fed will "press the cost of the debt...lower...and hold rates low permanently." If I'm reading this right, you're talking about the government rolling over its maturing debt into new debt with lower IR. Then you're talking about the effect of "increasing debt maintenance costs" -- but if the Treasury gets to sell low-interest debt to pay off high-interest debt, isn't that going to decrease its debt maintenance costs? > The increasing debt maintenance costs rob the economy of dynamism and growth Hold on a second, I thought we were talking about Treasuries? How does that affect the the private sector? I get that private IR usually moves in lockstep with government IR (at a mostly fixed offset representing relative risk levels). But I don't get why a low IR is bad for business. Don't the low rates stimulate companies to build themselves up faster with cheap borrowed money? > the lack of traditional inflation...[i]s trivially easy to explain Could you explain it, then, please?