Here is Brad De Long as: A Free Lunch for America

 This Year 2011 IMF meeting , dealing wiht eurozone crisis, the goverenments  focus on bandages ankles while the patient orgain failer. While  the United States, where they have been continuse trying  to recicitate the docile patient  same time sucking all the oxyen out of the patient by giving poison  social  insurences ..., Oh man you are stucked by  breathless encountering, you have to chose one or another!  So confusing itn’t it. He hee this very interesting.

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But there are two things different about today. First, the US labor market is failing so badly that expanded government spending carries no resource cost to society as a whole. Second, bond investors are being really stupid. In a world in which the S&P 500 has a 7% annual earnings yield, nobody should be happy holding a US government 30-year inflation-adjusted bond that yields 1% per year. That six-percentage-point difference in anticipated real yield is a measure of bond investors’ extraordinary and irrational panic. They are willing to pay 6% per year for “safety.”

I couldn’t agree with re: the bondmongers