[quote=Bubblesitter]Well folks, we’re going to the show the next couple days.
I put a successful debt deal at 40% odds now, and if it happens it will not have enough cuts to placate the rating agencies.
A credit ratings cut will boost interest rates across the board and result in higher costs for everyone. Essentially a stealth tax.
I’m gonna be following the asian markets closely later this afternoon.
My prediction is that gold is gonna jump big time.
10 year treasuries yield will jump and mortgage rate will step up, as the 2 are highly correlated.
This may be the event that precipiates big problems.[/quote]
Rising interest rates only make costs higher for those who have debt. For those of us who have no debt, and who’ve been patiently (or not so patiently) watching and waiting for higher rates/lower costs this past decade, the low interest rate environment has felt like being pecked to death by ducks. It has royally sucked.
