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| Permalink View Article Stats Falling T-Bond Threatens Illusion of Fed Control -- Rick's Picks Quicklink submitted by Darren Wolfe (Add your own quicklinks easily with the OpEdNews Quick Link Browser bookmark) |
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Things could get really ugly if the support fails, since that has the potential to send the futures plummeting all the way to 117 22/32. At that price, the long-term interest rate would be around 4.82%. Spread this asphyxiating rate over public borrowing, adjustable mortgages and revolving credit, and the extra tab would run into the hundreds of billions of dollars for taxpayers, homeowners and consumers. |
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