Why all the fuss about bond yields is happening now

When you flip off the world, this is how they flip you back --- by refusing to buy USA debt.

But the USA runs on credit. Interest on the nation debt is the single largest government expense --- larger than the US military, larger than Medicare. Way larger than all those wasteful social programs that Elon Musk was supposed to eliminate.

A lot of US debt is owned by foreign governments, foreign companies and individual foreign investors. When these folks stop buying, interest rates go up, inflation goes up --- economic growth in general slows down.

"America First" is insane fiscal policy for a country in this position.

https://budget.house.gov/press-release/interest-costs-surpas...