Higher Interest rates coming soon! And even higher in subsequent years!

This is a depressing but spot on interview with Bill Gross, founder of PIMCO, about our debt situation. He concludes that we should brace ourselves for higher interest rates in the very near future.

Interest rates [are expected to] go from 3.5 percent in 2011 to 6.6 percent in 2021.

Interest rates [are expected to] climb to 10.5 percent in 2021.

These projections, which show an explosion in the amount of money needed to service our debt, underestimate the problem, since any decrease in economic growth resulting from higher interest rates — or any other cause — is not accounted for. Bottom line: This could be really bad.

http://www.nationalreview.com/corner/261596/no-way-out-debt-trap-veronique-de-rugy