5 ms·
Yeah and what was the level of government debt that had to be serviced back then? Here I'll save you the search https://fred.stlouisfed.org/series/GFDEBTN http
by harambae 5y ago
Yeah and what was the level of government debt that had to be serviced back then?
Here I'll save you the search
https://fred.stlouisfed.org/series/GFDEBTN https://fred.stlouisfed.org/series/GFDEBTN
And the last relevant number is the WAM (Weighted-Average Maturity) and it's around 5 years for that.
Now imagine how the numbers change when you go back to 12% interest rates and that debt gets rolled over at the new rate? Starting to see why no one thinks rates are going back there?