Formerly NE North Dakota, now NW MN | Should ask the Greeks or the Spaniards how well rising interest rates has worked at curtailing their governments and fixing their fiscal woes.
MAYBE these next four years won't be as dire as we imagine... but at any rate, if rates took off now, that would just mean a larger % of our revenue would go straight to whomever is holding our debt. A large portion of that is the social security trust fund........so I guess that's not entirely bad. A bunch of it is being held in China and Japan.... Doesn't help us much to send our income taxes to China....
PO's right though, eventually we will face the choice of continued Fed involvement and Hyperinflation, or yields will skyrocket and our debt will be massively devalued.........which would mean the social security trust fund would have to take a huge haircut.
Hope no one my age was actually expecting to get social security checks....
Edited by khall_12_34 11/7/2012 01:10
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I hope my farmland loses some value over the next couple years
