The moment of truth will soon be here

 The world is so awash with debt that even quite small increases in rates could have some potentially devastating effects

“How did you go bankrupt?” Bill asks in Ernest Hemingway’s The Sun Also Rises. “Two ways,” Mike replies. “Gradually, then suddenly.”

We’ve grown used to record low interest rates. Many of those in work today cannot even remember the higher interest rate environment that ruled before the financial crisis. 

Jeremy Warner Telegraph 25 September 2021

https://www.telegraph.co.uk/business/2021/09/25/lurch-crisis-crisis-moment-truth-will-soon/


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