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Why all the fuss about bond yields is happening now
- jqpabc123 2mo agoWhen you flip off the world, this is how they flip you back --- by refusing to buy USA debt. But the USA runs on credit. Interest on the nation debt is the single largest government expense --- larger than the US military, larger than Medicare. Way larger than all those wasteful social programs that Elon Musk was supposed to eliminate. A lot of US debt is owned by foreign governments, foreign companies and individual foreign investors. When these folks stop buying, interest rates go up, inflation goes up --- economic growth in general slows down. "America First" is insane fiscal policy for a country in this position. https://budget.house.gov/press-release/interest-costs-surpass-national-defense-and-medicare-spending https://budget.house.gov/press-release/interest-costs-surpas...