Have you gone off your meds or something? I remember the Carter years.
Mortgage rates of %12, car loan rates at %18

Yes I remember that. Interest rates went very high
to deal with VERY high inflation and it did the job!
The Federal Reserve has two jobs.
The first is to control inflation. The second is
protect the currency.
The lack of good fiscal policy by the US will lead
to big inflation and guess what, then high interest
rates to deal with inflation.
When you print money and borrow from other countries
to fund huge deficits and debt it will not end well.
There has not been a nation to date that has borrowed
it's way to prosperity. The USA will not be the first.
One of the reasons oil and commodities move higher
is that they are measured in American dollars and guess
what the American dollar will continue to fall based on
fundamentals, that is they borrow trillions more than they
spend. Can they do that forever? I don't think so.
Some numbers for you. These taken from and article in
the Washington Post. Besides the 10 trillion national debt
and besides the huge current account deficit there is a
little amount of a fiscal gap between what will be required
in future for social security and medicare when the baby
boomers turn 65.
Would you like to take a guess on the size of how much
cash required that will not be available.
It's only a matter of about 70 trillion dollars.
Could anyone explain to me how you can print money
fast enough or borrow it fast enough to pay for programs
not prepared for? Major pain coming!
The information is all out there. A crisis is approaching
that will make subprime look like small potatoes.
I don't agree with the head of Iran on much but he said
the other day the price of oil needs to go higher because
it is paid for in US dollars and they are backed by nothing.
He says they just print more and it's not backed by gold
anymore.
There are some excellent articles by experts who claim
an argument can be made that the US is already bankrupt.
When you cut taxes and increase spending and borrowing
you don't have to be a genius to know where it's headed.

Bernie