Impending U.S. Bond Market Armageddon

The US Treasury market is now in an out-and-out bubble. When it bursts, no amount of promises by Federal Reserve chairman Ben Bernanke that he will keep rates low will prevent a bond market Armageddon.

Ben's promises are empty

HAT TIP: Real Clear Markets

CNBC: United States is in worse financial shape than Greece

"We've got a problem and we have to get after it quickly."