http://www.thedisciplinedinvestor.com/blog/2009/07/13/treasury-yields-should-be-at-10/ Just for fun.... Take out a bond calculator.... Assume the normal rate for LT debt is 4%.... Now examine the losses at a 10% yield.... Now examine all assets priced with 4% debt.... Now think Japan....and how it is stuck.... And think about ....the incentive to save....particularly at less than 1% Japan rates.... ....................................................................................... One could suggest further "large" losses could be in store....as a real possibility.... For any country that suppresses its real ....normal rates....