Why I Am Not Surprised That U.S. Treasury Bond Yields Are Still Very Low Today

Hoisted from the Archives from June 13, 2009: what we Hicksians were thinking then, and why we have (so far) been right:

A Sokratic Dialogue: Liquidity Preference, Loanable Funds, and European Hedge Funds that Fear the Collapse of U.S. Treasury Bond Prices - Grasping Reality with Both Hands:

Meno: I haven't seen you since spring classes ended.

Adeimantos: I have been away: Paris. London. Frankfurt.

Meno: Oh. Pleasant? Interesting?

Adeimantos: Not really interesting--too jet-lagged, so...