Do you know why you can't get "decent interest" on your savings? It has to do with monetary policy. There's always a price to pay when the Fed controls the money flow. Either money can be had cheaply (making interest rates low), or money can be hard to get (making interest rates higher.)
For the past couple of decades, money has been easy to get, and rates have been low. That's supposed to be good for business and the economy in general. Unfortunately, that's bad for savers in banks and "safe" investments such as government bonds.
I'm not advocating for a particular policy, a tight or loose supply, I'm only suggesting that there are trade-offs with each approach.
Yeah, I know all about it. Why is the Fed keeping rates so low? So, the Government interest on its debt can be kept minimal and the Entitlement State bandwagon can keep rolling on.
How does the Fed get away with it? Simple: ALL Central Banks are following essentially the same policy. This is because they all have the same basic problem: too few producers, too many “clients” and too many promises to those clients. If the US Government had to pay the full cost of the deficit, it would bankrupt the country. The fact that the US Dollar is strong despite all this helps us too.
If the 10Y UST rate ever goes above 4%, you will see the Elites start to panic. Because, at that rate, the deficit becomes unaffordable.
Another thing is that almost ALL Public pension plans are underfunded. If asset prices drop significantly, the pension funds go bust without massive & immediate taxpayer infusion of funds. Yet another problem being held in check by Fed policy.