Phil Johnson

Lifelong Louisville Cardinal ALL SPORTS supporter. Miami Dolphins. WKU graduate. Lambda Chi Alpha #FinsUp @gocards #RavensFlock @usfmbb @stjohnsmbb

[Phil Johnson @PjohnsonPhil]

@RealPitino A great man!

[Phil Johnson @PjohnsonPhil]

@TaylerLynch 🙏🙏🙏🙏

[The Highviëwan 🦝🐿️🦌 @FlueyKung]

Even the damn horses are fed up with Louisville traffic.

[The Strickland @TheStrickland]

Allan Houston - Knicks VP of Player Leadership & Development - is an NBA Champion

[Phil Johnson @PjohnsonPhil]

@JStreble82 It wasn’t Double J @lamb76 hauling soybeans I hope! I haven’t heard him on the show this week 🙏

[Florida Grand @florida_grand]

Okay everyone — the left, right and everyone in between — is mad mad about the property tax proposal “approved” by the Legislature. So, here are some dolphins in the Gulf of America to lighten up your day. If you’re out of state, visit Florida and boost our tourism.

[Phil Johnson @PjohnsonPhil]

@ZakerySpurrier @LouisvilleBSB Welcome to the Ville!!

[Doug Casey's International Man @intlmandotcom]

The 10-year Treasury yield is perhaps the most important financial benchmark in the global fiat system, as it drives valuations and market trends worldwide. It is widely—and erroneously—regarded as the risk-free rate of return.

The 10-year Treasury yield can be thought of as a key barometer of the US dollar-based fiat system—a critical measure akin to its beating heart.

Bond yields move inversely to bond prices. When bond prices fall, bond yields rise.

A rising 10-year Treasury yield signals trouble for the US dollar because it means investors are selling Treasuries, which pushes up the US government’s borrowing costs. That is why the 10-year Treasury yield is a major pain point for the US government.

The 10-year Treasury yield was 3.97% when the war started. Now it is around 4.60%, an increase of roughly 63 basis points.

I expect the 10-year Treasury yield to keep climbing over the coming weeks and months—until it forces the Fed’s hand. At that point, the intervention will be sold as “stability,” but the mechanism will be familiar: suppress yields by debasing the currency.

At today’s debt levels, every 1 basis point increase in the government’s average borrowing cost adds roughly $3.9 billion in annual interest expense. So a 63 bps rise is not trivial—it translates to nearly $250 billion in additional yearly interest costs, materially widening a 2025 budget deficit that was already around $1.8 trillion.

Higher yields mean the US government must pay tens or even hundreds of billions more in interest on its debt. At the same time, the global economy faces even greater added costs because Treasury rates serve as the benchmark for borrowing worldwide.

That is not an insignificant move. However, given all the headwinds I have discussed, I suspect the 10-year Treasury yield is headed much higher because investors will demand higher yields to compensate for rising inflation. Further, if Hormuz remains closed, drastically higher oil prices are all but certain. Higher energy prices mean higher prices across the economy and higher official inflation rates, which means investors will demand still higher yields to compensate.

The problem is that interest on the federal debt is already over $1.2 trillion and is now the second-largest item in the budget. The US government cannot afford yields going much higher because the interest expense would push it toward bankruptcy.

I am not sure how—or even if—the US government can manage this situation. Something has to give, and we will not have to wait long to find out what.

The Iran war may prove to be more than another foreign policy disaster. It could be the trigger that exposes the fragility of the entire dollar-based financial system.

[Phil Johnson @PjohnsonPhil]

@1Nicdar Hopefully some rain will move into OTOW soon

[Matt McGavic @Matt_McGavic]

BREAKING: #Louisville first baseman Tague Davis has been named the 2026 ACC Player of the Year.

Four Cardinals in total earned All-ACC honors.
https://t.co/O9cJhGPuui

[Phil Johnson @PjohnsonPhil]

@KatTimpf 🙏🙏🙏

[Sean Moth @CardsPA]

Two legendary Louisville Sluggers. #DavisAndDominguez

[Phil Johnson @PjohnsonPhil]

@MarkEnnis Yep!

[State of Louisville @thestateoflou]

“Hand that man a crown.”

The irreplaceable, incredible voice of Sean Moth.

No one better to call Tague’s record home run.

[Landon Thomas @sixfivelando]

Paige Bueckers addressed the media today on her relationship with Azzi Fudd and only plans on addressing it once:

"I believe me and Azzi's personal relationship is nobody's business but our own. And what we choose to share is completely up to us.

[Jon Rothstein @NotJ0NRoth]

USC big man transfer Gabe Dynes has committed to Louisville.

Pat Kelsey joins in on the fun, joining the club of folks that have shoved Mark Pope in a locker.

[Keith Poynter @Villesportslaw]

Better ingredients, better teams…

[Phil Johnson @PjohnsonPhil]

@unclelarry1952 So sorry for your loss 🙏🙏🙏🙏

[Phil Johnson @PjohnsonPhil]

@CoachMcNamee Great to have you in the Ville!!

[Phil Johnson @PjohnsonPhil]

@LouisvilleWBB Great hire!