The U.S. 10-year Treasury is now at 1.42%, its lowest level since July 2012. What gives? Yes, Brexit has roiled the markets, but can money really be that cheap? It is. Relatively, 10 years are rich in yield.

This post isn’t about the flight to safety, however. It’s about how our governments have failed us. Central banks are out of ammunition, fiscal policies during the recession were just not aggressive enough. We can’t rely on central banks. It’s our fiscal and regulatory apparatuses that are broken.

I don’t have an answer. Neither does Janet Yellen. Governments have to change. Maybe that’s what Brexit is all about.