America Got Addicted to Cheap Money — Now the Economy Is Cracking as Rates Exceed 5%
The article says that after 15 years of near-free borrowing, companies, homeowners and the U.S. government became accustomed to low-cost debt. It frames rates above 5% as exposing strains in an economy built around cheap money.
Why it matters — The account describes a shift in borrowing conditions that may be relevant to BLK watchers assessing the economic and market backdrop.