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The Market Will Hit A New Bottom By October | Tom McClellan

Wealthion - Be Financially Resilient

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Will Interest Rates Rise to 15 or 16 or 17?

With $33 trillion in debt that the federal government has, if we get up to above 10%, then every tax dollar that comes in will go toward paying interest. Every tax dollar would be taken up by interest payments if we get to 10%. Well, it'll be really tough both for people and for companies because that's a cost of capital that we're just not used to having to deal with for a good while. The level of indebtedness and the just the debt levels themselves nationally and US households is so much higher than it was,. say the last time we had high interest rates.

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