Welcome to the 7th US depression, Mr. bond market
March 15, 2011 at 08:30 AM EDT
Looks to me like the lack of noises out of Japan means there won’t be a sufficient fiscal response to restore demand. If anything, the talk is about how to pay for the rebuilding, with a consumption tax at the top of the list. That means they aren’t going to inflate. More likely they are going [...]