[budsniffer952]

10y rates are almost exactly where they were 20 years ago, and about 10% lower than they were 20 years before that.

So...what are you talking about?

[lazide]

You mean just before ‘08?

[budsniffer952]

I mean 20 years ago, just like the original comment said. What is confusing? The last 20 years of interest rates are unremarkable, and certainly don't indicate the US is failing.

[lazide]

wow.

just before the major financial crisis, and QE?

the last 20 years of interest rates absolutely are remarkable, and reflect massive (and historically unprecedented) intervention from the central bank.

because of the near collapse of the US financial system, almost exactly 20 years ago.