Would you buy government bonds yielding 10%?

An article The Bond Matrix has an interesting take on interest rates. Foreign investors own much of government debt in the form of bonds. The yields are low and do not compete well with other domestic investment opportunities such as stocks. There are many government programs on the table such as national health care that would require borrowing money. But foreign countries are reluctant to loan that money. Baby boomers have hundreds of billions in savings in the form of 401k, stock and home equity. They would be willing to buy bonds at a higher yield. This article suggests that rate of return may be about 10% about double current rates.