Patrick, Thanks for posting that. I naively thought that the Treasury was taking advantage of low rates by issuing longer term debt. Instead, they're doing the equivalent of a 5/1 ARM.
EB, it began in force during the 90s, just like a few other policy moves that were very shortsighted and are a big part of the situation we are in today. It makes me cringe how the next 10 years will onfold based on how we handled the last three or four years.
Oh, I miss the late 90s...
So we'll see high interest rates in no less than 5 years, right?
I'm afraid were headed for continued deflation with increased money supply and an increasing value of the stock market.
Lots of shoes to drop...
All the king's horses and all the king's men
Couldn't put Humpty together again.
Watch comments by email