Just as an aside, the most common reasons for us not knowing the answers to important questions are that the answers are too complicated to yield easy information or that no one has been willing to put in the time and money to do the studies necessary to provide certainty.

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It reads like the sort of books published about America in the Soviet Union in the 1950s and 1960s: a collection of mostly accurate facts put together in such a way as to yield a wholly misleading conclusion.

ECONOMIST: Global politics

Now to put that into context, the equivalent UK bond yield is around 2.2% and Germany's is 1.8%.

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"Now that oil prices have dropped, that may put pressure on companies to issue with a higher yield, " Mr. Wolman said.

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The secret to his success has been selectively buying high yield dividend stocks and REITs and some aggressive call and put writing for income.

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To put these figures in context, second-lien loans have even printed wide of high-yield bonds.

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