Today is Swine Flu day and I am going to let multitudes of other sources cover it as I put up another boring chart. Long term interest rates are doing what Mr. Bernanke does not want them to do and they are doing what the naive people who listened to the reprehensible Larry Summers do not want them to do. They are making a move toward breaking out of the long consolidation to the upside.This, even as t-bill rates are declining as somebody is showing desperation for safety from the chronic inflators in high places.
If I am right about this, how perverted is it that a respected American official can sooth-say unsophisticated people into the supposed safety of long term treasuries while providing cover for our 'partner', China to slip on down the curve, barely noticed?
