definitely under 4% there, and i wish i could get into a time machine and go back in time. what happened? well, the, you know, inflation is the other chart you can put up there, and that chart doesn t look too pretty either. and the fed s way of combating inflation or one of the principal ways they ve been combating inflation is to raise interest rates. and when you raise interest rates, mortgage rates go up, car loan rates go up, credit card rates go up. but the one that people probably have taken the most to heart is mortgage rates which now are at the highest they ve been in an entire generation. so for would-be home buyers that are, you know, coming of age, want to buy a home for their family, they are literally frozen out because they simply can t afford afford the payment. aishah: well, and people who are buying are in trouble too. you think about folks, okay, they say i can afford this house somewhat, but then maybe my
prices on treasuries fall. it s the bedrock, isn t it? yeah, it is. not just for us but across the globe. prices on treasuries fall, yields skyrocket. those yields are your interest rates. so credit card interest rates go up, mortgage rates go up, car loan rates go up. post thursday you were making that note. is it like falling downstairs little by little by little by little or is something very sudden for us as consumers? no, it is little by little by little by little. some payments get pushed off, tax refunds get delayed, social security payments may get delayed bit by bit by bit chipping away at confidence, which is a really bad thing, bringing it back full circle for the markets. there s always jobs and housing, those two important pillars. when we look at the unemployment rate, 7.3%, might we see a serious downturn or a higher percentage rate? absolutely. if employers are not feeling as if they are being supported, then they won t hire people. it will take longer to ge