The Fed's Decision to Cut Interest Rates

In small open economies, you get balance of payments crises. That's what you'll see - it's not a debt crisis. The fiscal policy is overly easy in the United States. And we should think of that as the US consuming more than it should. We just pop on vigilantes here, right? So William asks the question, do you agree bonds 20 to 30 years are not a buy until well into a fed cut? Everyone's still thinking about the fed cutting? I am dubious. It's true. I'm concerned. Most suspect, personally, I'd finger fiscal policy for that.