Interest rates on French bonds 5%, CRISIS! Interest on U.S. T-bills? "No problem, citizen!"

With the Muslim/communist-backed riots in France continuing, articles are noting that France hasn't been able to pass a budget in two years, so things like schools are using the same appropriations as two years ago.  In the U.S. we call that a "continuing resolution," and it's how the corrupt, shitty, unresponsive congress has operated in many years since Obozo was crowned. 

So the French govt is just merrily borrowing money--money it is unable to re-pay.  And the markets are noticing:  Last week lenders demanded interest rates of "up to" 5% buy ten-year bonds issued by the French government.  And financial writers were wailing about this great crisis.

Ahhh, a "crisis," y'say?  So what does it mean that today the yield on 10-year U.S. Treasury bonds closed at 5.247%?  And that earlier in the week it reached a 24-year-high of 5.35%?

  • Daily range today: 5.223% to 5.283%
  • 52-week range: 3.923% to 5.368%

People who aren't good with math see the increase just in the interest rate in the last year has jumped barely 1.4%.  Yes, but the new rate is 36 percent higher than a year ago, meaning that if this holds, interest payments would eventually soar from a TRILLION a year to 1.3 Trillion.

"Dere's nuffin' to worry about, deplorable!  Oh sure, yew may have heard dat dis iz some kind of warning sign, but dat jus' silly conspiracy talk, citizen!  We in duh congress gots everyt'ing under control!  Reeeeally!  Cuz we iz reeeel smaht! 

"I mean, look at our leaders!  Who can possibly question the intelligence of leaders like AOC, Chuck Schumer, Elizabeth Warren, Kamala Harris and others.  Your Partei is in great hands!" 

And of course stupid Americans believe that shit.  So when French govt bonds top 5% it's a crisis, but when U.S. govt bonds top 5.2% it's "Everyt'ing's totally fine, citizen!  No worries!

Starting to understand it yet?