Thursday, August 04, 2011

Economics and Politics by Paul Krugman - The Conscience of a Liberal - NYTimes.com:

The US 10-year bond rate is now down to 2.5%. So much for those bond vigilantes. What this rate is saying is that markets are pricing in terrible economic performance, quite possibly a double dip. And it also says that Washington’s deficit obsession has been utterly, totally wrong-headed.
at 10:20 PM