How about this story? Was that right?
And here's the deflation argument. I said it was elegant, but entirely wrong.
Now look what the deflationist hound with the elegant argument has to say now--worried about overheating!
With this amount of structural weakness, it remains to be seen how much more stimulus can be forced down the global economy's throat before it overheats. That, not green shoots is the real message behind rising treasury yields.
The elegance leaves, when the argument is found wanting.