If you look at the global interest rate spread right now we're at at 4:25, 4.25 in the interest rate, okay, Europe is more than 200 basis points lower than we are. Japan's [interest rates are] 4 times lower, China's 3 times lower [than U.S. rates]. Now that, that dog won't hunt for the American people because it creates all sorts of problems here. Just the high interest rates alone are discouraging the mortgage and housing market and the purchase of new cars. (17:31)
CLAIM
Asserts that Japan's interest rates are four times lower and China's three times lower than U.S. rates.
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