[quote=urbanrealtor]
Instead, you just need to run faster than the dude next to you (maybe by putting your last bullet in his leg).
[/quote]
Ha! Well done… you are truly the master of callbacks.
I have never bought into the “we’re better than everyone else so everything will be ok” argument. For one, I think we’re a lot less better than most people think (the mkts just haven’t realized it yet). Even if that’s wrong, the zombies are tireless and catch up with everyone eventually. (Which is to say, I don’t believe that our creditors will let us endlessly rack up unsustainable amounts of debt just because other countries also have debt).
That said, while I feel confident that our debt situation is unsustainable and will come to a bad end at some point, I don’t pretend to know for sure what’s going to happen (as you point out, there is too little prologue). I just think that the prospect of much higher rates is a very good possibility given the circumstances, and I think it’s worth it to try to protect myself against that outcome.
