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Sunday, May 06, 2012 11:58:48 PM
Meanwhile, In The Bond Market- May 6, 2012
The real interest rate on 10-year US bonds is now firmly negative:
This is as clear a demonstration as you can ever expect to see that the models some allegedly authoritative figures [ http://krugman.blogs.nytimes.com/2009/05/02/liquidity-preference-loanable-funds-and-niall-ferguson-wonkish/ ] use to analyze the economy are dead wrong; it’s also an indication that obsessing over the deficit, and actually cutting back sharply on government investment, are crazy.
http://krugman.blogs.nytimes.com/2012/05/06/meanwhile-in-the-bond-market/
The real interest rate on 10-year US bonds is now firmly negative:
This is as clear a demonstration as you can ever expect to see that the models some allegedly authoritative figures [ http://krugman.blogs.nytimes.com/2009/05/02/liquidity-preference-loanable-funds-and-niall-ferguson-wonkish/ ] use to analyze the economy are dead wrong; it’s also an indication that obsessing over the deficit, and actually cutting back sharply on government investment, are crazy.
http://krugman.blogs.nytimes.com/2012/05/06/meanwhile-in-the-bond-market/
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