Catherine Rampell

I used to have a rule for myself. It's like, Don't spend more time thinking through the thing that Trump said than he did because it's like an exercise in frustration and futility. In this case, yeah, I think what people are proposing is, again, that if Trump tanks the stock market, then bond rates go down, right?

I used to have a rule for myself. It's like, Don't spend more time thinking through the thing that Trump said than he did because it's like an exercise in frustration and futility. In this case, yeah, I think what people are proposing is, again, that if Trump tanks the stock market, then bond rates go down, right?

I used to have a rule for myself. It's like, Don't spend more time thinking through the thing that Trump said than he did because it's like an exercise in frustration and futility. In this case, yeah, I think what people are proposing is, again, that if Trump tanks the stock market, then bond rates go down, right?

Which is what I was saying, like, very initially happened and normally what you would expect to happen because people sell their stocks, again, they put it into bonds, and then that pushes bond rates down. And then maybe...

Which is what I was saying, like, very initially happened and normally what you would expect to happen because people sell their stocks, again, they put it into bonds, and then that pushes bond rates down. And then maybe...

Which is what I was saying, like, very initially happened and normally what you would expect to happen because people sell their stocks, again, they put it into bonds, and then that pushes bond rates down. And then maybe...

because we're talking about government borrowing, when those interest rates go down, we can refinance the national debt, just like Donald Trump would refinance one of his properties, right? If you're a real estate investor or a homeowner, for that matter, and you're borrowed at a very high interest rate. You're excited when rates fall because you can refinance.

because we're talking about government borrowing, when those interest rates go down, we can refinance the national debt, just like Donald Trump would refinance one of his properties, right? If you're a real estate investor or a homeowner, for that matter, and you're borrowed at a very high interest rate. You're excited when rates fall because you can refinance.

because we're talking about government borrowing, when those interest rates go down, we can refinance the national debt, just like Donald Trump would refinance one of his properties, right? If you're a real estate investor or a homeowner, for that matter, and you're borrowed at a very high interest rate. You're excited when rates fall because you can refinance.

And so that maybe he could use that as an opportunity to not like negotiate our debt down, but just like when it rolls over, roll over it at lower rates or refinance otherwise. Anyway, I think that's the theory of the case. First of all, I don't think that's like nearly as plausible. Even if markets did what you would normally expect, right? which is, again, having interest rates fall.

And so that maybe he could use that as an opportunity to not like negotiate our debt down, but just like when it rolls over, roll over it at lower rates or refinance otherwise. Anyway, I think that's the theory of the case. First of all, I don't think that's like nearly as plausible. Even if markets did what you would normally expect, right? which is, again, having interest rates fall.

And so that maybe he could use that as an opportunity to not like negotiate our debt down, but just like when it rolls over, roll over it at lower rates or refinance otherwise. Anyway, I think that's the theory of the case. First of all, I don't think that's like nearly as plausible. Even if markets did what you would normally expect, right? which is, again, having interest rates fall.

I don't think that's remotely plausible. But again, we are seeing the opposite happen. Instead, we are seeing treasury rates increase, maybe because nobody wants to invest here, maybe because people want to hold cash, maybe because they're worried about inflation.

I don't think that's remotely plausible. But again, we are seeing the opposite happen. Instead, we are seeing treasury rates increase, maybe because nobody wants to invest here, maybe because people want to hold cash, maybe because they're worried about inflation.

I don't think that's remotely plausible. But again, we are seeing the opposite happen. Instead, we are seeing treasury rates increase, maybe because nobody wants to invest here, maybe because people want to hold cash, maybe because they're worried about inflation.

All the things that I was talking about before, you know, we don't know which of them it is, but whatever, we will soon probably, but whatever the cause is, the outcome means it becomes much more expensive for the federal government to borrow. And so, in fact, this will worsen our debt obligations in the United States. And they're already on a totally unsustainable path.

All the things that I was talking about before, you know, we don't know which of them it is, but whatever, we will soon probably, but whatever the cause is, the outcome means it becomes much more expensive for the federal government to borrow. And so, in fact, this will worsen our debt obligations in the United States. And they're already on a totally unsustainable path.

All the things that I was talking about before, you know, we don't know which of them it is, but whatever, we will soon probably, but whatever the cause is, the outcome means it becomes much more expensive for the federal government to borrow. And so, in fact, this will worsen our debt obligations in the United States. And they're already on a totally unsustainable path.

And nobody wants to do anything about it. If anything, Republicans on the Hill are trying to increase our debt through the coming tax cuts. Yeah. So whatever this kooky theory is not going to happen. Virtually the opposite is likely to.

And nobody wants to do anything about it. If anything, Republicans on the Hill are trying to increase our debt through the coming tax cuts. Yeah. So whatever this kooky theory is not going to happen. Virtually the opposite is likely to.