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That healthcare entitlement is a tax not a benefit

At least not yet.  That goes a long and MUCH better way towards explaining the rally in bonds, no?  It also "mis-prices" the raging depression debate, no?  In other words, "what if there's never been a depression" but in fact just a "figuring out" of "what this health care thing really means."  In the meantime..back at "bond bubble ranch"--yeah, baby, that's right.  Mustangs running WILD.  Remember Pig Bear Gordon S....BULLS AND BEARS MAKE MONEY!

Disclosure: bulls and bears are STILL making money