I keep on seeing articles saying higher rates are "here to stay". How can that be sustainable? Every month the government will have to roll over part of its matured debt with a good rate to these higher rates. All new debt will be at these higher rates. How fast until we hit $1 trillion a year in interest payments on our debt?

And then every year they will have to take out bigger debt to pay down the bigger interest payments… or raise taxes a crap ton

None of this is sustainable. Something has to give.

The only thing people hang their hat on at this point is that everyone else is worse than us therefore we can continue doing stupid **** until someone is not.

That's pretty much literally the talking point now.

Outdoorag011 said:

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I keep on seeing articles saying higher rates are "here to stay". How can that be sustainable? Every month the government will have to roll over part of its matured debt with a good rate to these higher rates. All new debt will be at these higher rates. How fast until we hit $1 trillion a year in interest payments on our debt?

And then every year they will have to take out bigger debt to pay down the bigger interest payments… or raise taxes a crap ton

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There will be a global debt jubilee at some point. Our boat is taking on plenty of water but you look at Japan, Europe, and China and it's ****ing insane how bad global government finances are.

How about cutting the damn federal government in half . They're worthless anyway

txaggieacct85 said:

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How about cutting the damn federal government in half . They're worthless anyway

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The stat reported this week based on McCarthys goal to balance the budget is that they will have to cut 85% of all discretionary spending. And that's because we've already proclaimed that defense, SS, and Medicare are off limits.

Never happen so we all better buckle up.

tremble said:

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Outdoorag011 said:

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I keep on seeing articles saying higher rates are "here to stay". How can that be sustainable? Every month the government will have to roll over part of its matured debt with a good rate to these higher rates. All new debt will be at these higher rates. How fast until we hit $1 trillion a year in interest payments on our debt?

And then every year they will have to take out bigger debt to pay down the bigger interest payments… or raise taxes a crap ton

---

There will be a global debt jubilee at some point. Our boat is taking on plenty of water but you look at Japan, Europe, and China and it's ****ing insane how bad global government finances are.

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I've never been great at following government financings and the debt ceiling

Who exactly are all those governments in debt to?

The only people buying treasuries at 1% were the Fed and apparently SVB.

AgsMyDude said:

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tremble said:

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Outdoorag011 said:

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I keep on seeing articles saying higher rates are "here to stay". How can that be sustainable? Every month the government will have to roll over part of its matured debt with a good rate to these higher rates. All new debt will be at these higher rates. How fast until we hit $1 trillion a year in interest payments on our debt?

And then every year they will have to take out bigger debt to pay down the bigger interest payments… or raise taxes a crap ton

---

There will be a global debt jubilee at some point. Our boat is taking on plenty of water but you look at Japan, Europe, and China and it's ****ing insane how bad global government finances are.

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I've never been great at following government financings and the debt ceiling

Who exactly are all those governments in debt to?

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Largely to themselves. Japan has been buying its own bonds to try and keep yield control for the better part of a decade. China's central government really owns the share of local/state debts where the lion's share of the debt lies.

The problem for those countries is they don't own the global reserve currency, so any weakness in their debt structures can exacerbate balance of payment issues (nearly everyone internationally transacts in dollars, not yen or yuan despite what the Zero Hedge zealots try to sell you).

Troglodyte said:

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The only people buying treasuries at 1% were the Fed and apparently SVB.

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There are billions upon billions of ARPA dollars invested in TBills and TNotes. Mostly held by cities, counties, and school districts.

AgsMyDude said:

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tremble said:

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Outdoorag011 said:

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I keep on seeing articles saying higher rates are "here to stay". How can that be sustainable? Every month the government will have to roll over part of its matured debt with a good rate to these higher rates. All new debt will be at these higher rates. How fast until we hit $1 trillion a year in interest payments on our debt?

And then every year they will have to take out bigger debt to pay down the bigger interest payments… or raise taxes a crap ton

---

There will be a global debt jubilee at some point. Our boat is taking on plenty of water but you look at Japan, Europe, and China and it's ****ing insane how bad global government finances are.

---

I've never been great at following government financings and the debt ceiling

Who exactly are all those governments in debt to?

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Nobody. They're in charge of printing the money.

"they will have to cut 85% of all discretionary spending"

Remember in Washington D.C., not raising as much as they want is a "cut"