Interesting information. Read complete article: http://www.businessinsider.com/mauldin-inflation-2011-4
Inflation has the opposite effect of interest. So when it grows and interest rates fall the opposite effect of return will happen. I think we are entering a period of diminishing returns. It is likely to last for twenty of so years. Because of the aging demographic.
Whatever. Meanwhile, this chart is to be respected: http://www.thereformedbroker.com/wp-content/uploads/2011/01/My-Favorite-Chart-on-Earth.jpg
US Treasury is basically borrowing money for free. The foreign lenders belive they make a 1-1.5% return on the 10y/30y bonds, but in reality they get 0% as the real inflation is ~1.5% above the official numbers.
So anybody and everybody is better off learning Chinese, Portuguese or Hindu and moving to China, Brazil or India respectively. It makes sense: coasting economy going through a crisis is not going to post yields. Emerging economies: nothing but yields.