Interest rates on Treasuries must increase. China,
India, Russia and many other countries have admonished us on our
profligacy. They have reduced their purchases and rearranged their
holdings to the short-end of the curve. At the same time our funding
requirements have soared. Official projections (probably understated)
indicate these excessive funding needs will be with us for at least a
decade. This situation is not sustainable much longer. J. D. Steinhilber expands upon the issue.
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