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Bloomberg Daybreak: Europe Edition
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The Treasury Insiders Talk About a Mortgage Bomb
The bill for a decade long of borrowing, the binge in borrowing that we've all taken advantage of businesses and households is coming due. The penny is dropping that five or 6% above 6% mortgage rates is just as painful as 13% mortgage rates were back in the late 1980s. Why? Because households have borrowed so much more.
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