I do. And, I'll bet you do, too. Interest rates affect so many factors in our financial lives. They determine our compensation for saving, affect our willingness to take risk, cause or deter us from borrowing or lending and many, many other decisions.
Currently, interest rates are embarassingly low. For example, the 4-week Treasury Bill rate is a whopping .025%. But don't worry. If you only extend the maturity to 6 months, you'll receive a very generous 0.18%. See? No problem.
Now if you really have a strong stomach and can wait two years until your Treasury Note matures you can actually earn 1.09%. Still not satisfied? You can buy notes maturing in five years and get 2.65%. If that doesn't float your boat, you can buy 10-year notes and receive 3.85%. If that doesn't do it, you must be one major ingrate!
If you have the willingness to invest in Corporate Bonds, rated BAA by Moody's, you could receive 6.39%.
BAA is the lowest rating above "junk bonds", the type that default often. Great risk/return profile, eh?
It would seem that the only direction interest rates can go is up, but before you conclude that, read further.
The National Debt exceeds $12 trillion!! For every 1% across-the-board increase in rates, an additional $120 billion would be added to the budget deficit annually! I contend, therefore, that rates will continue ridiculously low for a long, long, time, despite Fed Chairman Bernanke's suggestions that rate hikes are "on the table". The very same man, who along with his predecessor Alan Greenspan, have succeeded in one thing only: creating asset bubble upon asset bubble only to attempt to cure the very bubbles they created with the identical medicine which CAUSED the bubbles... low interest rates. Ben Bernanke as "Time 's "Man of the Year" Great choice!
Tomorrow, we'll take a peek at "Peak Oil". If you don't know about "Peak Oil", I hope I have your interest piqued. See ya then.