I think Satyajit Das’ guest post
The Sovereign Debt Train Wreck
from The Big Picture by Barry Ritholtz
does a very nice job highlighting and clarifying some of my thoughts on the U.S. sovereign debt problem, which is clearly not being priced with a US 10y Treasury at 2.10% or even 4%. For those of you unfamiliar with Satyajit Das, his book exposed ex-ante both what caused the financial panic of 2008-2009 and the concurrent disgusting practices prevalent in finance.
For my thoughts on death spiral and the generosity of Asian central banks, see posts