> Forgive me if I defer to the bond market and treasury auction data TIPS are Treasuries. The breakeven-inflation rate is calculated entirely from Treasuries.

> Forgive me if I defer to the bond market and treasury auction data TIPS are Treasuries. The breakeven-inflation rate is calculated entirely from Treasuries. > data shows a path to a potential debt spiral and crisis based on yields demanded and debt outstanding Sure. The data also–unambiguously–show that Treasury prices are not pricing in a U.S. default or runaway inflation.