gold breaks out, page-66

So timber, are you suggesting GDP and tax reciepts will double / triple in line with IRs return to norm ? As you say, if / when it happens.

Cos a return to norm, is the 10yr moving from 1.5% back to ~3.5%. Thats a ~130% increase in cost of funding.

Do you really believe the US and its economy can absorb that increase cost ?

No chance, the USA cannot afford a recovery, the subsequent IRs or price of oil.

Additionally, Interest only charts don't account for any debt retirement, but don't worry, that won't happen either.