With the Fed printing money like back-alley counterfeiters, this kept interest rates low as well, as bond yields on the U.S. 10-Year Treasury are the real measure of interest rates. Low interest rates, moreover, are good for broke countries, and the U.S. is indeed that: broke and up to its ears in debt. And like any broke individual or company that has no income, our own government has resorted to living on debt. This would explain why and how our nation’s debt more than doubled since 2008 to $21 trillion and counting. It’s not just shameful. This debt disaster is a ticking time bomb for America.

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