As we've seen since the financial crisis began, investors still perceive US Treasuries as the safe place to park your money when the world is going to hell. With Europe still going to hell, that's going to continue to be the case. With tremendously low borrowing costs, the US should be raising a ton of cash and building supertrains and hiring streetsweepers for my urban hellhole and fixing water systems and, oh, cleaning up the Gulf coast, and basically anything else to increase employment and employment opportunities.
