Rate hikes are starting overseas -- is the U.S. next?
-- November 6, 2003
Earlier this week, the Australian central bank hiked interest rates. Then today, the Bank of England did the same thing. In both countries, consumer debt, retail spending and home prices are shooting through the roof -- something that has their central bankers scared stiff.
Easy Alan Greenspan, on the other hand, wants us to believe we've got nothing to worry about here in the U.S. -- even though we're facing the same huge problems ...
Now, central banks overseas are raising rates and U.S. bonds are getting crushed. The Fed will likely have to start raising rates itself -- and that could cause this spending bubble to blow up in everyone's faces.
Bank of England Raises Interest Rates; ECB Holds Steady