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1962Buff

Joined: 01/23/2019 Posts: 434
Likes: 888


But paying interest on $30 Trillion in debt blows up the entire game...


Say interest rates go up a couple points over the next couple of years. The increased debt service on the $30 Trillion will eat up whatever money might have been available for things like Roads, Medicaid, Medicare, Military, etc.

The US has been acting like the Weimar Republic of Germany after WW1 except our paper money was the reserve currency of the world.

The reserve currency status of the US dollar is the only reason we've been able to get away with the deficits of the last 20+ years.

But eventually, it's weight that breaks down the wagon and the weight of the US debt will be breaking down the US's wagon in a variety of ways.

If hyper inflation kicks in, things will get ugly faster than you can imagine.

Bottom line, if you have any adjustable rate debt, refi NOW into something fixed.

(In response to this post by bufffantheman)

Posted: 05/04/2021 at 1:16PM



+1

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