These interest rates are not even near normal. The normal interest rates have usuallly run about 6 - 10%. I can remember times when the mortgage rate was as high as 18%! (But that was not normal.) The debt factor, though, has never been higher. I cannot recall ever being as high as it is in relationship to the GDP as it is now. I think that those worried about the debt are on the right trail. Those saying, “No problem, we owe it to ourselves,” are in la-la land where there are never any problems with debt and bankruptcy. I come down on the side of those who think debt is way to high!