Quote:
Originally Posted by Pinner
OK your both crazy 
At this point who would buy American bonds ?
I'm amazed interest rates haven't spiked through the roof, 22% interest rate like in 1982 would cripple the economy. |
Honestly - given the financial situation of the average Westerner, I think anything like 1980's interest (18-22% range) levels will lead to total and absolute rebellion, perhaps even national collapse.
To hell with the nation - citizens simply do not have the financial capacity to carry their debt with interest at that point. The dominoes would (imo) probably start falling pretty quickly. That said, I doubt we see double-digit interest rates for many, many, many, many years.