when some of the trolls here were SCREAMING and YELLING that if the FED raised rates over 2.5%... or 3.0% MAXIMUM... the US WOULD IMMEDIATELY BE INSOLVENT, DEFAULT, BLOW UP!!!
fortunately there were some adults in the room to state the facts. The adults were proven right again.
Re: This increase of 0.8% (since the elections) means that interest expenses will increase by $160B......
Whatever. Knock on and ripple effects coursing through the bond markets will devastate the already fragile balance sheets of the rubbish banks across the world. Concomitantly the panic will spread like wildfire through the absurdly leveraged ancillary markets and equities not the least of which the preposterous RE bubble.
And so on and so forth. Maybe they have 2% to tinker with but I doubt it. The debt avalanche accumulation is just too mountainous.