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The economy of the 70s wasn't weighed down by a 31 trillion dollar debt-millstone. Just raising the interest rate by a mere 2% will incur an EXTRA 600 billion
by simonblack 4y ago
The economy of the 70s wasn't weighed down by a 31 trillion dollar debt-millstone.
Just raising the interest rate by a mere 2% will incur an EXTRA 600 billion dollars of interest per year. A 3% interest rate hike will incur an extra interest bill that's greater than the whole Defense Budget.
The US is headed for 'interesting times'. Pun NOT intentional.