Point well taken CW. However it did kind of suck when you literally saw price increases overnight. Also having double digit mortgage rates pretty much sucked for people who were trying to get loans for starting businesses. Don’t get me wrong, we needed to do it then. However today the complexities are exponentially worse.
Think about this, given our spiraling debt and the non chalant policy of simply raising the debt limit, what do you think the effect will be if we see a very rapid rise in rates? How in the hell do we service our debt if treasuries suddenly jumped to say 8%?
Volker didn’t have to deal with 16 trillion in the hole.
I absolutely agree with your assertions about what people need to do. Lets not forget to put govt in those same assertions.
