Investors are selling off bonds from the U.S. government, as part of a trade known as “Sell America.”
The United States government has had to pay more to borrow in the global debt markets. On Wednesday, the Treasury department found that there was tepid demand for an auction for $20 billion worth of bonds, and ended up paying a slightly higher interest rate (or yield) than expected.
This has spooked markets. Yields on 30-year U.S. Treasuries have spiked above 5% this week — an unusual, and unsettling, surge in the price that the U.S. government pays on its long-term debt. An increase in bond yields is particularly damaging to the economy because it jacks up the interest rates on many things that consumers pay, such as on mortgages and other loans.
Problem is, the US only really works when every state is in sync. Economies of scale and all that. Stuff will be a lot more expensive if you are just buying for the west coast and Colorado. and you’ll have people from fucked up states trying to move to good states, bringing their terrible ideas.
And then the non-shit states will have ✨ immigration and customs ✨ for all the white supremacists and y’all qaeda types.
All I mean is that there is a LOT of stuff in the “Find Out” chapter of this book if all these chucklefucks insist on exploring the story in its entirety.