Now at 1.44%, and any thought that rates are cheap have gone out the window. The message? Get oil production back up. And the Californians are not fond of oil production.
They plan to suffer high rates:
President Biden declared during the campaign that he would repeal the Trump tax cuts on “day one,” but after more than a month in office, some key Democratic lawmakers say they are reluctant to raise taxes during an economic slowdown.
Democratic leaders are more focused on sending out $1,400 stimulus payments to qualifying adults and children by the middle of next month and following that up with a jobs and infrastructure package that could cost as much as $3 trillion.
Once the Senate looks at the near term jump in total interest costs then it is delay, delay, delay. Those interest cost jumping mean Fed taxes rising and credit squeezed from the implied VAT tax. This will not go well. We got the Mexican Standoff, and that phrase will be me banned.
There, just a moment ago it jumps another two basis point to 1.46. Add that point of Fd taxes and we find ortselves rolling over the 22 trillion from a 2.1 rate to a 2.5 rate.This is sudden stop in the Senate, a no go.
No comments:
Post a Comment