Desde pragcap.com:
(...) So what happened back in the 30′s? The economy muddled through until WW2 or so and then started to pick up momentum. Interest rates steadied and then rose a whopping 1.5% over the course of the next 20-30 years depending on where we begin. And that’s including the New Deal period when government spending was 120% of GDP! Sound familiar? I’m sure the deficit hawks were puking all over themselves at the time of FDR’s outrageous spending spree.
The greatest irony in all of this hysteria is that those who are shrieking the loudest about rising yields, US government default, etc fail to understand why interest rates would likely rise in the current environment. Despite massive debt levels, private sector de-leveraging, deflation risks, etc the only thing that got interest rates moving higher in the 1940′s was an economic recovery!.
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