Will Boris and Bibi comeback?
Fareed Zakaria GPS
00:00
Is There a World Where Interest Rates Matter?
We're in an age where interest rates matter. Reaganism and Thatcherism could work when you were in a world of declining interest rates. What the market seems to be saying, and maybe we all need to be listening, is interest rates do matter now. You can't just cut taxes willy-nilly and assume the deficits don't matter. Interest rates are going to be high. It's servicing this debt is going to be expensive. Absolutely. Britain has now had what four prime ministers in five years. Does it damage Britain's credibility and influence in the world? Absolutely.
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