Higher interest rates hit businesses in multiple ways. The longer rates remain elevated, the harder it gets.
When the economy starts looking scary, bank executives have to make a judgment call about their outstanding loans.
Did we not learned anything in 2008?
It's been a long road from financial ruin to Tuesday's visit from Obama.
Make no mistake, if the U.S. government defaults on its debt obligations, it will be a catastrophe. But the media has been misusing the term.