No Inflation No Problem
When you read market commentators and “analysts”, they keep talking about “the debt” and “credit”: government debt, corporate debt, household debt, etc. They then say that “if interest rates increase, it will trigger defaults and rollover problems and more fiscal pressure”… and that would be the “Crisis of All Crises”… and they’re right. Except that in their logic, they have an important hypothesis: that interest rates will indeed increase! It’s not that simple!
The issue is that their fears of rising interest rates rest on the cause of rising interest rates, which is rising inflation… yet, here is the catch: there is NO inflation!