We have our own thoughts on this, but we thought we’d throw this out to everyone since so many people are budget obsessed…
Why does the bond market not care at all? Why are interest rates at record lows, with everyone screaming until their blue about how broke we are? And why is the relationship between government debt (the red line) inverse to interest rates?
And don’t say “QE2” because as we’ve been discussing, rates rise during QE2. They don’t fall.
Have at it.
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