Rates, Risk and Debt: The Unavoidable Reckoning Ahead

Policy errors have consequences, and we're only in the first inning of those consequences.

Please note: Of Two Minds subscription rates are going up this Friday 3/1/24 from $5/month or $50/year to $7/month or $70/year, so subscribe by Thursday if you want to lock in current rates. Thank you for understanding the necessity of adjusting rates that have been unchanged since 2011.

If we ask, "what's changed?," two under-appreciated dynamics pop ou…