Is This a Big Debt Crisis?

After a decade of zero interest rate policy and QE which kept long-term yields very suppressed a lot of companies as well as consumers using using fixed rate mortgages were essentially able to term out their debt. Now as the Fed has been raising interest rates you haven't seen that typical kind of shock to the financial system where all of a sudden the funding costs on a day-to-day basis have gone through the roof, nobody can pay their bills. The interesting thing though is that as interest rates have gone up in the past year you've seen floating rate debt you through commercial paper and adjustable rate mortgages start to end shop so they always say you sow the seeds of the next crisis in the

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