On Tuesday, the U.S. Treasury offered billions of dollars of four-week bills at an interest rate of 0% … and that issue was oversubscribed by a factor of four! Three-month bills are currently yielding about 0.01%, the lowest level since 1929, when they were initially offered. And long-term rates are hovering around 3%, some of the lowest levels in decades. These super-low rates me got brainstorming, and since everyone else is offering out-of-the-box ideas with regards to the economy, I thought I’d chime in with one that, in my view, makes a lot of sense. I won’t spend too...
