This is he interest rate spread over bond terms for the USA. Right now the spread is all crunched up at the bottom of this thing, no leverage left. That is Krugman's liquidity trap. The better interpretation is that regimes change, unfortunately, this crash was 30 years in the making.
How come I don't update my chart?
When I did it, I put together some quick R code, created the thing from FRED data, plotted, then feared of ever having to do the typeface explosion on this subject again, the code long gone!
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