Welcome to the Eric Erickson Show podcast. Our two.

Greetings. Welcome. It's Eric Erickson here across the nation. The phone number 8779773-725, should you wish to be on the program.

Those of you who get the green chat bubbles, you should be getting an FCC alert at some point.

Kidding, I hope you all got it yesterday.

So buddy of mine was driving south of Atlanta yesterday and said when that alert went

off that you could visibly see people start swerving in their cars and that two cars

wound up colliding in front of him as people were grabbing for their phones to make it all

stop.

And I hear there were a series of wrecks yesterday, as was my goodness gracious.

I did my best. Although I got to tell you, so I'm that my phone alarm thing, it went off.

It was thankfully not right by the microphone or that could have got me in trouble. But I turned all, I grabbed it and cut it as soon as the alert came out, but I never even thought about my watch. It triggered on my watch too. And I've got the volume turnout. I've got it. It's on mute. And yet still, they were able to override it. And I'm deeply impressed with their technological ability to do it. But my gosh, that's the one that scared the bejesus out of me when it happened yesterday. But those of you with an Android device, you'll get that alert at some point. Now, we got to move on. There's a big story. I reached out to my buddy, Dave Nicholas. I think I'm going to have them on with me tomorrow to try to talk through some of this mortgage and deficit and interest rate stuff. So let's do while I'm here and doing it live here, 10-year treasury bond yield.

It is.

Da-da-da-da-da.

Right now, 4.73 percent down from 4.81 percent. Last year at this time, same date, it was 3.62%.

This is higher than the long-term average of 4.25%.

Here's the problem.

Our treasury yields are too high right now.

Now, what is the yield?

It's essentially the interest rate pays.

So you buy a 10-year T-bond, a treasury note.

The government is going to pay you 4.73% interest a year right now if you buy that bond.

And that's fine.

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