Yep, you are right. The real point, however, is all about inflation regardless of how high. We will know we have a really bad problem if any of our major bond holders start selling off our bonds. THEN we run for the hills! I suspect the real problem is that ANY inflation rings all sorts of bells. We will see. I can remember when we had interest rates at 10%. Inflation was brought under control and interest rates started down. The retired, who had invested their money in bank paper, were very upset....