Quote:
Originally posted by Gattigap
Ah, we're five years into the new century. Let's not throw away the economics texts and subscribe to the dogma of Dick "Deficits Don't Matter" Cheney just yet.
There are some who have attributed at least part of this phenomena to external factors. One example I remember in WaPo by Sebastian Mallaby:
[list]But the most remarkable aspect of Bush's good fortune is the way he's repeatedly avoided the retribution of markets.
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What I don't get is why don't the long term bond traders see through this? They have to know the perfect storm can't last forever and if they set their long term rates too low they will be caught with their pants down.
Does anyone know any long term bond traders? After reading this article it really seems to me that they should be freaking out and raising their rates.
