Here in NJ, the Governor is swinging blindly with an axe. If much of his cuts get passed, there is a real possibility some local munis will actually go bankrupt... along with their bonds. While this is speculation right now, it does seem that either counties are going to go broke or the State is.

There was also a story not too long ago about foreign investors forgoing the usually favorable T-bills because there were considered too risky. I am not quite sure what that really means. Here it is at WSJ: http://online.wsj.com/article/SB3000142405274870480420457506...

Now, about this 0.00%. I firmly believe that we are in a time vacuum, by design. You see, consumers form the foundation of our economic system. They are the engine. By keeping interest rates across the board obscenely low, we are providing much needed time for them to pay off debts. Once the bulk of the consumers become stable, then the rates should rise. Until then, the front of the caterpillar has to wait for the back to catch up!