Originally Posted by vtec to vvel

This isn't about being strong.

This is about YOUR money, both cash and credit.

If you put anything on credit, be prepared to really pay inflated prices on items on top of already inflated prices.

If you are trying to take out a loan, be prepared to get qualified for significantly less.

If you buy with cash, it won't go nearly as far as say a year ago. Your buying power with any item goes down significantly due to inflation.

Higher rates -> less spending -> slowing down the economy. The problem with today's economic scenario is we are still experiencing a global supply and chain issue. Though it has gotten better, we still have quite a ways to go. Less spending paired with shortage of supply paired with rising costs will yield to catastrophic results. Forget the US debt ceiling, this will hurt the world economy.