The World Would Like to Give Us Free Money

From the Wall Street Journal, sometime yesterday:

The rally in U.S. government bonds has put 10-year Treasury yields on the precipice of a new record low.

The benchmark note gained 18/32 in price by late-afternoon trading to yield 1.702% after sinking as far as 1.692%. The record low of 1.672% was matched in September and originally set in February 1946. Based on a 3 p.m. EDT finish, 1.702% would be the lowest yield ever to round out a session.

And from Yahoo Finance, at 6:22 this morning:

And here's a summary of current rates of inflation, from the Cleveland Fed:

With inflation running at about 2.4%, borrowing money at 1.7% means that -- in inflation-adjusted dollars -- there is no interest.

This would be an excellent time to spend a whole bunch of money on a new stimulus plan. Just sayin'. What with it being basically free and all.