A column so much like a “lulling letter” that it could be suspected as London “lulling” Wall Street into a financial crash, is “senior financial analyst” John Authers’ column in Bloomberg Sept. 26, entitled “The Big One Is Rumbling in the Bond Market.” Authers is British, of course, and worked for years for the Financial Times in London, where Bloomberg News itself has headquarters as well as in New York, and where its owner Michael Bloomberg lives.

While bond investors and other Americans are shocked by a week in which steadily rising Treasury interest rates suddenly escalated into a rate spike, the message of this long column, with the loud click-bait title, is: “Nothing is really rumbling in the bond market, the market is stable, the economy is growing, the Fed is doing the right thing, don’t worry about it. Keep spending everything possible on spreading wars; keep blowing up energy prices, keep building nothing but data centers, forget mortgage rates and frozen housing, keep driving inflation, which is too low.”