Free Money

Take a look at the latest Treasury real yield curve data — the interest rate the U.S. government pays on bonds that are indexed to inflation[…].

Now, you might think that there would be a consensus that[…] this is a really good time for the government to invest in infrastructure and stuff: money is free[…].

But no: the Very Serious People have decided that the big problem is that Washington is borrowing too much, and that addressing this problem is the key to … something.

(Paul Krugman in der NY Times; Hervorhebung von mir)