Spiking interest for debtor nations
Many people in the recent spate of foreclosures were victims of suddenly spiking interest rates. Is there a similar mechanism for debtor nations that could come into effect, and what would be the consequences of that given the rash of recent deficit spending? For which countries would this have serious implications? What could cause worldwide interest rates to suddenly jump? Who would be the beneficiary of vastly higher interest on credit extended to nations?