Interest rates will continue to rise because they can’t fall when there exists an absence of credit. The lack of credit is mostly due to banks’ reluctance to lend. When that situation is overcome by falling credit demand (who wants to buy property or open a business in this environment?), then interest rates will begin to fall.
Higher interest rates are pushing more and more existing businesses (and home-owners) into insolvency and making it less and less viable to open or expand a business. The shortage of goods that results from this will push prices higher – far, far higher than they are today.
In other words, when interest rates do fall, it will be too late. It will be because the game is over and the depression has begun in earnest.
Central bankers will be exposed as the clueless central planners that they are. I have no doubt that some of them (maybe all) are really bright people. They are up against the stubbornly persisting fact that it is not possible to centrally plan an economy – let alone the interest rates that support every single deal done.
Never forget the Times of Gold motto.
There will be NO soft landing. It will be a hard landing – harder than almost anyone can imagine.
It is time to withdraw from the markets and to hold such wealth as you have in cash and dried/tinned foodstuffs. By ‘cash’ I mean, of course, Gold and/or silver.