Why Cambridge is Smart

October 11th, 2012

When will the U.S. Treasury get smart?  I’ve been urging the Obama administration to issue 100-year bonds to lock in today’s ridiculously low interest rates.  Who would benefit most?  Our children and grandchildren.  Now comes Cambridge University (one of my alma maters) auctioning off $560 million 40-year bonds and paying just 3.86%.  Cambridge has produced Isaac Newton and Stephen Hawking, but it doesn’t take a rocket scientist to see a bargain.  Keynes was a Cambridge man, too.  If he were still around, he too would be protesting the U.S. Treasury and telling its leaders they could learn a lesson from a university that’s survived a few business cycles over its 800 year history.

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