I think it does reflect an aggregated lack of faith in many things. Really do you believe the government can figure out a solution? Do you think the private market can figure it out? It also does indicate that many people know the next bubble to burst will be the bond market. Honestly you can only build up so much debt until liquidation is the only real option. I think many people understand that. QE1 – N will do nothing but to continue to prolong the game but in the end reconciliation will be necessary.
