By Andrew Butter (Guest Post)
Last December, the hyper-ventilating students of Econ-101 had finally got it cracked, (for a change). America was going to hyper-inflate and the 10-Year was going to 6%. The minority view (then) said “no-way, the fundamental is 2.9%, and that’s where it’s heading”. And then that’s where it went. Bo-ho, I guess they found another “Greenspan-Flaw”. Bob Farrell once said that departures from the equilibrium (or fundamental or other that market value- take your pick), are invariably followed by an equally large departure the other way. I think the period of…
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