To a certain extent we can say the market sees it and is reacting.
USD to Euro:
http://finance.yahoo.com/q/bc?s=USDEUR=X&t=5y
Oil:
http://futures.tradingcharts.com/chart/CO/W
Gold:
http://finance.yahoo.com/q/bc?s=GLD&t=5y
Current reductions in the long rates are, IMO, driven by the intenese fear out in the marketplace. When you don't know what to do with your money you throw it in treasuries. And boy do these mortgage buying wiz kids not know what the hell is going on.
When OPEC is thinking about accepting euros as payment, china is thinking about shifting to partial euro currency reserves, and Warren Buffet is publicaly declaring his lack of confidence in the dollar and buying brazilian real then at least some market actors are catching on.