Comment: Is it just me or

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Is it just me or

does it seem like Mr. Luetkemeyer is completely in over his head? I understand that he is a congressman, correct me if I'm wrong. He asked what would happen if the market were responsible for buying US treasuries and if it could sustain such a burden. Well... No shit the market wouldn't sustain negative interests rate on treasuries representing a nation who's debt is at 100%+ GDP! The rates would go through the roof, but it's almost more indicative that he would imply that the Fed could continue to finance the US bond market and that would somehow keep a crisis at bay indefinitely.

It is most unfortunate that we do not teach Austrian economics, thouroughly at least, in most universities. Maybe one day we could expect our elected officials in charge of monitary policy to understand the effects of artificially low interest rates and malinvestment.