US heading for ZIRP?

[*T*]

With the 3-month trading somewhere about 50bps, I wonder if the US is heading for liquidity trap territory sooner rather than later?

The Fed are clearly pursuing stronger stimulants since coffee no longer works, perhaps this is to avoid the zero bound.
Fed Announces Modifications to Terms and Conditions of Term Securities Lending Facility (http://www.newyorkfed.org/newsevents/news/markets/2008/rp080320.html)
Fed Expands Collateral for TSLF, Sets $75 Bln Auction (http://www.bloomberg.com/apps/news?pid=20601087&sid=aVL8jQ3AglT0&refer=home)

Is the market rush to treasuries really pricing in these rates or is it simply panic?
Treasuries' Scarcity Triggers Repo Market Failures (http://www.bloomberg.com/apps/news?pid=20601087&sid=ae_4oQex1o1g&refer=home)
(see also the related iTulip thread (http://www.itulip.com/forums/showthread.php?t=3589))

[*T*]

Amusing aside:
googling 'US debt worth zirp' responds with 'Did you mean: us debt worth zip?'

[Verrocchio]

Amusing aside:
googling 'US debt worth zirp' responds with 'Did you mean: us debt worth zip?'

Thanks for passing that one on, *T*. I've been watching 2010 tonight and methinks that may have been Hal speaking to you.