The 10-Year U.S. Treasury Interest Rate Is Not 3.36% But 3.20%...

Paul Krugman:

Rashomon In The OECD - Paul Krugman Blog - NYTimes.com: by the debt-and-deficit criteria the US, UK, and (as you can’t see) Japan look similar enough to the crisis countries that if you didn’t know better, you might expect them to be in the same boat. But they aren’t. As of right now, the interest rates on 10-year bonds are 3.59% in the UK, 3.36% in the US, 1.29% in Japan. CDS spreads for Japan and the UK are only about a third of the level for Italy.

So what does one...