Kevin Drum, echoing Paul Krugman, looks at rising interest rates on Treasuries and decides that there is nothing to see here, move along. You will all be relieved to know that these rising interest rates have nothing to do with a couple of trillion dollars in new government borrowing, and the effect that this borrowing (and wild money printing) might have on
- Sovereign risk
- Supply and demand for credit
Boy, do I feel better.
PS - And remember, if interest rates do start exceeding historical norms, Krugman will discover that it is Bush's fault.