Featured Stories World News Commentary Money Watch Multimedia Prison Planet U.S. News Science And Technology

Rising Interest on Nations’ Debts May Sap World Growth

  • Print The Alex Jones Channel Alex Jones Show podcast Prison Planet TV Infowars.com Twitter Alex Jones' Facebook Infowars store

NELSON D. SCHWARTZ
NY Times
Thursday, June 4, 2009

As governments worldwide try to spend their way out of recession, many countries are finding themselves in the same situation as embattled consumers: paying higher interest rates on their rapidly expanding debt.

Increased rates could translate into hundreds of billions of dollars more in government spending for countries like the United States, Britain and Germany.

Even a single percentage point increase could cost the Treasury an additional $50 billion annually over a few years — and, eventually, an additional $170 billion annually.

(ARTICLE CONTINUES BELOW)

Rising Interest on Nations’ Debts May Sap World Growth  250509BANNER

This could put unprecedented pressure on other government spending, including social programs and military spending, while also sapping economic growth by forcing up rates on debt held by companies, homeowners and consumers.

“It will be more expensive for everybody,” said Olivier J. Blanchard, chief economist of the International Monetary Fund in Washington. “As government borrowing in the world increases, interest rates will go up. We’re already starting to see it.”

Full article here

This article was posted: Thursday, June 4, 2009 at 9:40 am





Infowars.com Videos:

Comment on this article

Comments are closed.

Watch the News

FEATURED VIDEOS
What They're Not Telling You About Race Riots See the rest on the Alex Jones YouTube channel.

Did Obama Order National Guard to Stand Down in Ferguson? See the rest on the Alex Jones YouTube channel.

© 2013 PrisonPlanet.com is a Free Speech Systems, LLC company. All rights reserved. Digital Millennium Copyright Act Notice.