IS THERE ANY REASON TO THINK THAT THE INTEREST RATE ON U.S. GOVERNMENT DEBT IN THE FUTURE WILL BE GREATER THAN THE GROWTH RATE OF THE ECONOMY?

Nice chart from Brad.  He removed long term growth trends from long term Treasury interest rates, thus showing the difference between growth and rates. They should correlate, interest rates dhould represent differential growth in inventory from trend.

Brad asks the question, and the short answer is yes, interest rates on DC treasuries can be much lower than growth rates of the American economy, mainly when the West coast uses another form of money. If the peripheral become disconnected from he center, their money decorrelates and Treasuries mainly measures growth around the Mid-Atlantic.

We have a name for the phenomena, Zero Bound in DC.