Companies who roll their debt are about to hit a world of pain. The US treasury interest rate dictates just about all other rates, and it has more than doubled

Companies who roll their debt are about to hit a world of pain. The US treasury interest rate dictates just about all other rates, and it has more than doubled since its lows. All of the folks decrying high corporate profits are about to get their wish, as interest and inflation will begin to eat into those profits. At least, that’s my guess as to how the next few quarters play out. Who knows what happens afterwards? As for governments being somehow immune from the physics of economics, I’m a skeptic. It takes longer for government-scale economics to play out. It’s like climate change in a way. My guess is it’ll play out, and we won’t like the consequences, but it’ll be too late to fix things by the time we’re really grappling with them. We’ll know who’s right in a few decades.