“If interest rates continue to rise rapidly, it will be more expensive for the U.S. government to borrow money, it will be more expensive for state and local governments to borrow money, the housing market may crash again, consumer debt will become more expensive, junk bond investors will be in for a world of hurt, the stock market will experience a tremendous amount of pain and there is a good chance that we could see the 441 trillion dollar interest rate derivatives bubble implode.  And that is just for starters.  So yes, we all need to be carefully watching the yield on 10 year U.S. Treasuries.”

http://theeconomiccollapseblog.com/archives/what-is-going-to-happen-if-interest-rates-continue-to-rise-rapidly

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