More pessimism - except for bond bulls.

I’ve said since many months back 2.25% 10y and 7000 DOW by 12/31…. My only change from that thought is that the trend continues in 2011 – and we see 1%-handle 10yr and 2%-handle 30yr at some point. And yea, I’m aware that we are building a fiscal hole we’ll probably never get out of – and we’ll deal with the huge consequences of that down the line, no doubt… but for now, the US situation is the worst, except for all the others.
---Zerohedge, 8/12