Do You Think It's Time for Volker?

In high debt loads, what happens when you're hiking rates is your reducing the value of fixed income. In a sense, moneying ta system disappears. So we definitely have trouble hiking rates the way volker did because the reverse wealth effects would be very strong and the system might become unstable. Politically, it's a difficult thing to do as well. The federal government really isn't constrained by industry costs as well. It can always just roll over its set forever,. Or if push came to shof it could just have to fed borrow all of it. And that's part of what's behind the enormous amount of demand that we see everywhere.