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Weak $25 Billion 10 Year Auction Closes At 3.692%, Massive 13% Direct Take Down, Large Tail

Tyler Durden's picture





 
  • Yields 3.692% vs. Exp. 3.680%
  • Allotted at high 95.17%
  • Bid To Cover 2.67 vs. Avg. 2.78 (Prev. 3.00)
  • Indirects 33.2% vs. Avg. 43.27% (Prev. 29.0%)
  • Indirect Bid To Cover: 1.51
  • Indirect Take Down: 33%
  • Direct Take Down: Massive 13%

 


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Wed, 02/10/2010 - 14:14 | Link to Comment Commander Cody
Commander Cody's picture

$66.6B tendered.  $25B accepted.  Is this a failed auction?  And if not, then why not?

Wed, 02/10/2010 - 14:26 | Link to Comment tenaciousj
tenaciousj's picture

Just because..

Wed, 02/10/2010 - 14:30 | Link to Comment Zro
Zro's picture

This was only a 25B auction. 66.6B were bids for that amount

Wed, 02/10/2010 - 18:41 | Link to Comment Commander Cody
Commander Cody's picture

Thanks.  Much to learn, so little time.

Wed, 02/10/2010 - 14:30 | Link to Comment Anonymous
Wed, 02/10/2010 - 14:31 | Link to Comment Anonymous
Wed, 02/10/2010 - 14:37 | Link to Comment jkruffin
jkruffin's picture

Not so much that it is a failed auction so to speak, just the warning signs that are signaled.  The auction was only for $25B, they almost tendered that even though there was well more bids.  The problem is that 95% of the bids were alloted at the HIGH Yield which means no one wants these notes anymore for cheap measly yields anymore.  The high direct bid takedown( which is probably the FED buying) shows the yield would have been higher.  The 30yr auction is probably going to show the same.  The amount of non-tendered bids is evidence people were bidding but they wanted much higher yields to buy the crap they are selling.

 

Personally, I am sitting back and waiting for treasuries in my Treasury Direct account, and I will buy a ton of 10yr and 30y when the rates reach  7% on the 10yr, and 13%+ on the 30yr,  then go all in.  Can't lose that way ever, no matter what the crap stock market does.  People don't think rates are going that high, but I beg to differ. They may go higher on the 30yr.  Hyperinflation is on the way, just like the 80's.

Wed, 02/10/2010 - 14:44 | Link to Comment Oso
Oso's picture

there is zero chance of you reaching those targets anytime soon.  10 yr will not go over 4% with SP at 1070.  It might when it is at 400, but more than enough money to keep yields down for a while.

 

Plus, rising yields are not going to be allowed by the Den of Thiev - i mean - the government, not while they can still get away with QE.  Thanks to EUR issues, they can print away right now.

 

Nic Lenoir, however, was dead on about the short term bands in the 10 yr futures.  Good entry point right here to start building a position.

Wed, 02/10/2010 - 14:55 | Link to Comment jkruffin
jkruffin's picture

I'm not saying anytime soon, but sooner than most think.  I say sometime near end of the year into 2011 we will see rates starting to take that shape and yes S&P will be below last March levels.

Wed, 02/10/2010 - 15:17 | Link to Comment Oso
Oso's picture

oh, 100% agreed then.

 

I almost shorted japanese rates, but frankly, i want a good risk shake out before i do it.  will reverse and short treasuries when 10 yr is at or under 3, but not before.

Wed, 02/10/2010 - 15:58 | Link to Comment debt.crisis (not verified)
Wed, 02/10/2010 - 17:49 | Link to Comment Carl Marks
Carl Marks's picture

Your web site sucks, Cetin.

Wed, 02/10/2010 - 16:17 | Link to Comment Ned Zeppelin
Ned Zeppelin's picture

yes,  ihave always assumed, perhaps and no doubt erroneously, that the gross amount of bids covers offers that are made at rates that are quite in excess of what is accepted.  It would be interesting to know the range of bids and resulting rates. but this rate, given the timing, seems 10 basis points higher than I would have expected to hear. Not earth shattering though, and hardly a failed auction.

unless of course the only "real" bids were for much higher rates, and the Shadow Bidder had to step in to make sure the rate stayed on program. I assume such an arrangement is made via some sort of "understanding" among the primary dealers.

we had hyperinflation in the 80s?

 

Wed, 02/10/2010 - 20:24 | Link to Comment 35Pete
35Pete's picture

Yes, we did. It was a log-normal version of hyperinflation, where the inflation rate that was actually experienced by we consumers was the log of the underlying inflation rate. 

That's why you didn't notice it. 

Wed, 02/10/2010 - 15:09 | Link to Comment rubearish10
rubearish10's picture

Bond vigilantes are almost ready to reverse the trend and break chart patterns. QE II will fail and hence the squeeze on yields, especially given the global fiscal effect and a rising trade deficit. Most of the import rise is for oil, not for goods and services from China.

Wed, 02/10/2010 - 15:46 | Link to Comment huubs
huubs's picture

"QE 2 will fail"

could it be that the high direct bid take down of late is QE 2 'in disguise'? E.g. Bubblenanke's SIV, off the FED's balance sheet, but with new $$ to Treasury?

Wed, 02/10/2010 - 15:56 | Link to Comment rubearish10
rubearish10's picture

Most likely, although I'm thinking at some point another proclamation comes from BB. What I mean is,,,,"should" we have a precipitous equity market decline and a decoupling of rates (lower bond prices), he'll come in and announce major size repurchase agreements and flood the system yet again. Frustrating to see this drag on. I'm a "free market" constituent and am playing it accordingly. Problem is, the lying in your face aspect really hurts my patriotic feelings.

Wed, 02/10/2010 - 16:18 | Link to Comment Ned Zeppelin
Ned Zeppelin's picture

zactly there is QE (overt) and then there is QE (covert).  Bet on it. 

Wed, 02/10/2010 - 14:18 | Link to Comment aswipe
aswipe's picture

There's your signal Benny.

Wed, 02/10/2010 - 14:20 | Link to Comment Anonymous
Wed, 02/10/2010 - 18:40 | Link to Comment Commander Cody
Commander Cody's picture

Thanks. Obviously, I am not a bond vigilante.  But I'm learn'in.

Wed, 02/10/2010 - 14:23 | Link to Comment Oso
Oso's picture

problem is most of DC is shut down - the guys buying this stuff on the DL arent around to do it, lol!

Wed, 02/10/2010 - 14:25 | Link to Comment Selah
Selah's picture

Et tu, Global Warming... errr... Climate Change?

Wed, 02/10/2010 - 14:32 | Link to Comment tenaciousj
tenaciousj's picture

Yeah.  Funny how they switched the title on their headlines from "Global Warming!!!!" to "Climate Change!!!!" in the past several months as everyone started freezing their asses off.  What a joke.

 

Wed, 02/10/2010 - 14:40 | Link to Comment Zina
Zina's picture

The real joke are those who think the Climate Change has nothing to do with the exploding concentrations of CO2 in the atmosphere, caused by human activities.

Wed, 02/10/2010 - 14:44 | Link to Comment buzzsaw99
buzzsaw99's picture

The composition of the atmosphere hasn't changed one iota.

Wed, 02/10/2010 - 14:49 | Link to Comment Anonymous
Wed, 02/10/2010 - 15:07 | Link to Comment mock turtle
mock turtle's picture

you are fact impaired..

please read this wikipedia entr

http://en.wikipedia.org/wiki/Carbon_dioxide_in_Earth's_atmosphere

Wed, 02/10/2010 - 17:37 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

please read this wiki entry?  ur jk right?  right?

Wed, 02/10/2010 - 20:32 | Link to Comment 35Pete
35Pete's picture

In 1913 the 16th amendment was hatched into existence. 

In 1913 there was a syphilis epidemic.

Therefore, syphilis causes income taxes. 

Jesus H. Christ. Do I have to explain the Correlation/Causation fallacy again????????????

Wed, 02/10/2010 - 16:03 | Link to Comment DaveyJones
DaveyJones's picture

or try this (for CO2) 

http://www.noaanews.noaa.gov/stories2005/s2412.htm 

then there's the methane increase

http://www.climatescience.gov/infosheets/highlight1/default.htm 

and then nitrous oxide is up 15 plus percent

http://news.stanford.edu/pr/93/930501Arc3285.html

or a summary of all three

http://www.physicalgeography.net/fundamentals/7a.html 

 

Wed, 02/10/2010 - 17:41 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

become a vegatarian and do yourself a favor, but global climate change is BS like Shalom Bernanke.

Thu, 02/11/2010 - 00:29 | Link to Comment mock turtle
mock turtle's picture

name calling seems to be your best...only weapon

Thu, 02/11/2010 - 15:34 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I did not call you any names.  I am a pseudo veggie, as too much meat makes certain hormone levels too high.  and weapons?  put down your arms sir, we are all family here.

Doelarr is having a hard time breaking above 80.  Gold breaks through range.  And silver is being totally manipulated by the climate changers...I mean JPMorgan's Market Manipulators.  Buy silver.  Weapons.....jeesh.

Wed, 02/10/2010 - 14:54 | Link to Comment Anonymous
Wed, 02/10/2010 - 18:42 | Link to Comment Anonymous
Wed, 02/10/2010 - 20:32 | Link to Comment Clinteastwood
Clinteastwood's picture

Explain the previous ice age.  Too many dinosaur farts?

Wed, 02/10/2010 - 20:34 | Link to Comment 35Pete
35Pete's picture

Occam was an asshole that never did a damn bit of science in his life. 

Again, logical fallacy. 

Wed, 02/10/2010 - 20:52 | Link to Comment defender
defender's picture

Occam's razor can't be applied in this instance because the question isn't simple.  CO2 is created, and consumed; water releases and absorbs it; solar activity changes; absorption coefficient changes....  The correct answer to the question would be "Possibly",  which is a far cry from probably, and a light year from yes.

Thu, 02/11/2010 - 00:35 | Link to Comment mock turtle
mock turtle's picture

current CO2  levels in the atmosphere are exceeding by more than 30% anything we have seen or have evidence for in the last million years of earths history

http://planetforlife.com/co2history/index.html

Wed, 02/10/2010 - 14:54 | Link to Comment Oso
Oso's picture

Zina, you should check your facts before you make statements.  First, 98% of CO2 is emitted by natural causes.  Second, CO2 is NOT an efficient greenhouse gas (the most efficient is SO2, sulphur dioxide, which is what volcanos throw out).  Third, there is overwhelming evidence that climate change is linked very closely with the solar cycle (sunspots) - google "maunder minimum", then take a look at the solar spots over the last 2.5 years, and you will see we seem to be in an extended and unexpected minima.  It is NO wonder the last 2.5 yrs have been quite literally the winter of our discontent, brutally long and cold winters, and very short summers.

Finally, while i am all in favor of reducing consumption, recycling everything, and removing pollutants, the idea that humans have, in 5-15 years, changed the climate on a planet that has been going through massive climate swings is ludicrous.

 

Also, has it occurred to you that the ideas advanced by Gore et al are retarded?  Do you know how much heat solar cells trap??

 

You and all you other global warming advocates are doing a massive diservice to the world by spreading your ill-founded hysteria, forcing governments to spend epic amounts on what is amounting to nothing.  You might as well spend the money on trying to prove the earth is flat.

 

Wed, 02/10/2010 - 15:04 | Link to Comment tenaciousj
tenaciousj's picture

Damit Oso! 

"You and all you other CLIMATE CHANGE advocates.."

Be more careful next time will ya.

Wed, 02/10/2010 - 15:04 | Link to Comment mock turtle
mock turtle's picture

your problem is that you have no respect for that insidious little 2% that isnt natural

 

you have to learn the difference between weather, and climate

 

while the east coast suffers...the pacific northwest is having the warmest winter in over a half century

 

"

During the 100,000 year ice age cycle, CO2 varies between a low of approximately 200 ppm during cold periods and a high of 280 ppm during interglacials. Recent human influences have increased this to above 380 ppm. There is a large natural flux of CO2 into and out of the biosphere and oceans. In the pre-industrial era these fluxes were largely in balance. Currently about 57% of human-emitted CO2 is removed by the biosphere and oceans.[11] The ratio of the increase in atmospheric CO2 to emitted CO2 is known as the airborne fraction (Keeling et al., 1995); this varies for short-term averages but is typically about 45% over longer (5 year) periods.

Burning fossil fuels such as coal and petroleum is the leading cause of increased anthropogenic CO2; deforestation is the second major cause. As of 2004[update], around 27 gigatonnes of CO2 are released from fossil fuels per year worldwide, equivalent to about 7.4 gigatonnes of carbon (see List of countries by carbon dioxide emissions); in 2006 8.4 gigatonnes carbon were emitted [1].

This addition, presently about 3% of annual natural emissions, is sufficient to exceed the balancing effect of sinks. As a result, carbon dioxide has gradually accumulated in the atmosphere, until at present, its concentration is 30% above pre- industrial levels.[12]"

 

wikipedia

Wed, 02/10/2010 - 15:15 | Link to Comment Oso
Oso's picture

so, Mr. Wikipedia.... why were scientists deathly afraid of global "cooling" in the 1970s??

 

and then why has the warming and cooling (have u noticed all of the norther hemisphere is getting pummeled by this winter??) exactly coincided with sun spot activity?

 

and again, CO2 is NOT, i repeat, NOT an efficient greenhouse gas by any means.  Also, brainiac, trees need CO2, to turn into oxygen.  CO2 is not the issue.

 

further, you understand that the models they are using to map climate change are the same ones that told NYC they would get hit by a blizzard that never came over the weekend??  So, lets see... cant get 2 days in the future correct, but..... we can spend billions on predictions ranging 50-300 yrs in the future from the same models.

 

brilliant.  just brilliant.  thanks for coming out, homie. 

Wed, 02/10/2010 - 16:20 | Link to Comment Anonymous
Wed, 02/10/2010 - 15:30 | Link to Comment Anonymous
Wed, 02/10/2010 - 16:07 | Link to Comment Anonymous
Wed, 02/10/2010 - 19:46 | Link to Comment Anonymous
Fri, 02/12/2010 - 06:31 | Link to Comment Anonymous
Wed, 02/10/2010 - 18:49 | Link to Comment Anonymous
Wed, 02/10/2010 - 16:29 | Link to Comment Anonymous
Wed, 02/10/2010 - 20:37 | Link to Comment Clinteastwood
Clinteastwood's picture

Gigapedia.

Wed, 02/10/2010 - 20:45 | Link to Comment Anonymous
Wed, 02/10/2010 - 15:11 | Link to Comment Anonymous
Wed, 02/10/2010 - 15:40 | Link to Comment Oso
Oso's picture

excuse me?  "all the climate scientis and national science academics in developed world"???

 

are you listening to yourself?!?! every single one of them admits that their models arent nearly strong enough to come anywhere near figuring out what is happening but because you have read the headlines advanced by special interest groups, it DEFINITELY must be true, and everything i ve said is a lie.

 

Instead of regurgetating headlines that have been advanced by special-interestes (oh, like Al Gore, the self-made global-warming billionaire), and instead of calling me anti-science, go look at the SCIENTIFIC evidence yourself, you fucking idiot. 

 

What you are saying is akin to trusting the national budget because the experts have said that is true - we all know it isnt, and yet, the headlines say its true.

Wed, 02/10/2010 - 15:44 | Link to Comment Oso
Oso's picture

further, to the anonymous moron, if you REALLY wanted to stop any man-made climate change, you would stop eating beef or pork.  The sheer amount of METHANE cows and pigs produce to over-feed western civilization far eclipses anything CO2 related.

Wed, 02/10/2010 - 16:36 | Link to Comment DaveyJones
DaveyJones's picture

actually methane comes from a number of industrial sources, rotting vegetation behind huge dam projects are now one of the largest sources. But scientists fear the largest source to come is the accelerating melting of the permafrost (due to rising temperatures)

http://www.spiegel.de/international/world/0,1518,547976,00.html 

 

 

Wed, 02/10/2010 - 16:39 | Link to Comment Oso
Oso's picture

well, didnt deny that methane has other sources.  also, the permafrost hasnt exactly been melting the last 3 years, quite the opposite.

 

again, point is, CO2 is not the culprit.  i find it hilarious that global warming advocates finish a day of protesting by having a nice steak dinner.  How much steak do u think Al Gore eats??

Wed, 02/10/2010 - 16:42 | Link to Comment DaveyJones
DaveyJones's picture

I'm a vegetarian (but mostly for vanity)

It's not that I love animals, I just hate plants.

Wed, 02/10/2010 - 18:48 | Link to Comment Anonymous
Wed, 02/10/2010 - 20:47 | Link to Comment Clinteastwood
Clinteastwood's picture

We're saying you are confused, and when your intellectual argument goes into the crapper you revert to ad hominem vulgar attacks on those who don't agree with you. Emotion subverts your mind's common sense.

Wed, 02/10/2010 - 15:55 | Link to Comment Burnbright
Burnbright's picture

Mr. Anon,

You are way off base. A majority of the "scientists" who advocate such crap are the same people getting millions of dollars in funding to push their retarded research through as truth.

You are an idiot if you really don't think that science is politicized as much as anything else in society.

Wed, 02/10/2010 - 18:53 | Link to Comment Anonymous
Thu, 02/11/2010 - 00:42 | Link to Comment mock turtle
mock turtle's picture

i agree that solar output is a consideration

so is orbital attitude of earth around sun (milankovitch cycle)

 

and so is CO2

 

your argument that CO2 is not the most efficient green house gas is immaterial

wool is not as efficient an insulator as down but can still keep you warmer than doing without

Wed, 02/10/2010 - 14:54 | Link to Comment Anonymous
Wed, 02/10/2010 - 17:10 | Link to Comment Anonymous
Thu, 02/11/2010 - 15:40 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Al Gore is an elitist oligarch nimwit whose family has been part of the agenda for centuries.

SNL has become propagandist fodder.  That video was borderline racist...no wonder Gore wanted in.

"What up wif dat?  Ima sing a song masta.  Ready masta Gore?" 

Thu, 02/11/2010 - 00:44 | Link to Comment mock turtle
mock turtle's picture

what hype is that

state a fact he alleges that you disagree with

or is this just about name calling

Wed, 02/10/2010 - 14:57 | Link to Comment crosey
crosey's picture

Zina, I'd love to follow your logic, but the Global Cooling/Global Warming/Climate Change/(next year we'll call it.......) advocates have been doing the rope-a-dope for so long, that they now have ZERO credibility.  Why lie and fudge data, unless the truth does not support your cause?

Do humans affect the environment?  Sure, but to a small degree.  Notwithstanding, it's always a good idea to be a good steward of natural resources.

However, when one massive volcanic eruption can surpass decades of human emissions, we must acquiesce and give nature full credit and respect.  All the while being good stewards.

Wed, 02/10/2010 - 15:12 | Link to Comment mock turtle
mock turtle's picture

one volcanic eruption surpasses decades of human CO2 production you said?

 

do you have a link for that...i open minded about dissent

Wed, 02/10/2010 - 15:46 | Link to Comment Oso
Oso's picture

Mount Pinatubo, June 1991.

 

can also check out El Chichon, 1982

Thu, 02/11/2010 - 00:45 | Link to Comment mock turtle
mock turtle's picture

you dont have a link do you

and i found out why

according to USGS  all the volcanoes in the world during any given year emit around 130 million tonnes of CO2

man made sources of CO2 amount to around 30 billion metric tonnes

 

http://volcanoes.usgs.gov/hazards/gas/index.php

 

http://en.wikipedia.org/wiki/List_of_countries_by_carbon_dioxide_emissions

 

and dont give me any of that non sense about how wikipedia isnt an accepted source

all the data in wiki is footnoted with references to USGS, NOAA, universities and other research entities...i look forward to you challenging the numbers cited here

Wed, 02/10/2010 - 16:03 | Link to Comment delacroix
delacroix's picture

there are undergroung coal seam fires, that have been burning 24/7  some for over 30 years. if the climate vigilantes, were serious about reducing emissions, instead of making money, you would think, they would come up with a plan to extinguish, these major sources of pollution. but no, these problems, are not even mentioned. how many SUV's would it take, to equal 1 coal seam fire?

Wed, 02/10/2010 - 16:09 | Link to Comment crosey
crosey's picture

Referring to Krakatoa in 1883.  Estimates of impact vs. humans (all emissions, not just CO2) range from decades to a century.  I think the century estimate is a stretch, but possible considering world population at that time.

Here's a blurb from wikipedia regarding K's effect on climate:  "Average global temperatures fell by as much as 1.2 degrees Celsius in the year following the eruption. Weather patterns continued to be chaotic for years and temperatures did not return to normal until 1888."

I'm all for good stewardship, but when nature can do this, humans need to get off their "high-horse" about their impact.  Nature ALWAYS has the upper hand.  We're just the dominant species, presently.

Finally, global warming stats (ostensibly reflecting CO2 increases) can be validated against ORNL (Oak Ridge National Lab) research.  ORNL research strongly correlates warming trends to growing urban areas.  Outside the urban areas, the weather is fine.

Wed, 02/10/2010 - 16:33 | Link to Comment Anonymous
Wed, 02/10/2010 - 15:00 | Link to Comment Anonymous
Wed, 02/10/2010 - 16:29 | Link to Comment crosey
crosey's picture

Poor old Al Gore.  Wonder where he would be today if his Dad did not shackle him with a "you will be president" birthright responsibility.

Maybe he would be just a normal guy living in a 10,000 SF mansion, with a large carbon footprint, and not scrambling for some kind of legacy.

Wed, 02/10/2010 - 19:07 | Link to Comment Anonymous
Wed, 02/10/2010 - 15:04 | Link to Comment Lord Blankcheck
Lord Blankcheck's picture

Ever notice it's cooler at night than during the day,perhaps the sun has more to do w/ climate change than anything else.

It does of course,Sun spot activity warms the Earth than the CO2 increases.Plus there is twice as much O than C hence CO2

Wed, 02/10/2010 - 17:44 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

+11

Wed, 02/10/2010 - 16:26 | Link to Comment dnarby
dnarby's picture

The real joke is that there are still fuckwits who think a LAGGING INDICATOR can somehow cause a rise or fall in temperature.

http://www.google.com/search?q=carbon+dioxide+is+a+lagging+indicator+glo...

Wed, 02/10/2010 - 16:30 | Link to Comment dnarby
dnarby's picture

(duplicate removed)

Wed, 02/10/2010 - 16:43 | Link to Comment carbonmutant
carbonmutant's picture

More anthropogenic fantasies.

Thu, 02/11/2010 - 01:14 | Link to Comment Quantum Nucleonics
Quantum Nucleonics's picture

The real joke is the climate clowns like you who have hijacked science to further you utopian, cultish political views.  And that joke isn't funny.

Wed, 02/10/2010 - 15:09 | Link to Comment mock turtle
mock turtle's picture

do you know the difference between

weather

and

climate change?

 

ill be looking for your astute observation this july and august

Thu, 02/11/2010 - 19:08 | Link to Comment Anonymous
Wed, 02/10/2010 - 16:13 | Link to Comment cougar_w
cougar_w's picture

Heh. Global cooling...

I always get a kick out of watching the ZH crowd derail themselves over AGW.

Them as are not easily offended should read up on the Dunning-Kruger Effect:

http://en.wikipedia.org/wiki/Dunning%E2%80%93Kruger_effect

cougar

Wed, 02/10/2010 - 16:33 | Link to Comment dnarby
dnarby's picture

I notice you fail to actually present an opinion on AGW, alhough it seems we could imply you think the science is sound.  To wit:

http://www.google.com/search?q=carbon+dioxide+is+a+lagging+indicator+glo...

...Fuckwit!

Wed, 02/10/2010 - 17:37 | Link to Comment cougar_w
cougar_w's picture

Opinions. Everyone has one. Opinions are really only good for horse races.

My opinion is that you have been derailed by complexity. We have hit our cognitive limits beyond which large, sweeping events are invisible. Watching climate change unfold is watching something beautiful and wild let loose into the world that nobody can see and none shall escape. It is darkly amusing, but then I do have a weakness for subtle humor.

Peace.

cougar

Wed, 02/10/2010 - 17:46 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Wiki is whack and Russel was a eugenicist.  c'mon coug....

Wed, 02/10/2010 - 18:28 | Link to Comment cougar_w
cougar_w's picture

Wiki is what it is. Same could be said for the rest of the universe.

All the exits are in your head.

cougar

Thu, 02/11/2010 - 03:42 | Link to Comment Rick64
Rick64's picture

Gore has a big stake in the carbon credit bullshit, his own company profits from this and since the market is in need of a new derivitive whoola. Climate cycles are probably thousands of yrs. long and our weather data goes back how far? In the 70's they thought we were cooling and were thinking of depositing soil on the icecaps.

Wed, 02/10/2010 - 15:16 | Link to Comment fresh.air
fresh.air's picture

currently reading: http://stocknews.freeoda.com... yes crisis will intensify

Wed, 02/10/2010 - 14:29 | Link to Comment buzzsaw99
buzzsaw99's picture

bennie = the jawbone of an ass.

Wed, 02/10/2010 - 14:38 | Link to Comment Anonymous
Wed, 02/10/2010 - 18:07 | Link to Comment johngaltfla
johngaltfla's picture

Rick is right. The 30 year tomorrow ought to be one ugly and interesting biotch....

Wed, 02/10/2010 - 14:53 | Link to Comment Anonymous
Wed, 02/10/2010 - 15:03 | Link to Comment Anonymous
Wed, 02/10/2010 - 15:06 | Link to Comment Anonymous
Wed, 02/10/2010 - 16:01 | Link to Comment Burnbright
Burnbright's picture

I know isn't sad. The worst part is that many of the professors that taught me at HSU firmly believed this crap. Hell I did for a while too because every single professor was so admint about such information. And its not exactly out in your face, its very subtle like slightly mocking or laughing at some counter arguement etc.

 

The next thing you Know they will be telling us H2O kills people. Sad really.

Wed, 02/10/2010 - 16:35 | Link to Comment dnarby
dnarby's picture

While H2O is generally accepted as safe, the real danger is dihydrogen monoxide. http://www.dhmo.org/

Wed, 02/10/2010 - 16:42 | Link to Comment Burnbright
Burnbright's picture

haha or maybe a benzene ring smarty pants or if you are feeling really fancy isopropylcyclohexane

Wed, 02/10/2010 - 16:36 | Link to Comment Anonymous
Wed, 02/10/2010 - 16:16 | Link to Comment cougar_w
cougar_w's picture

[high school biology] Oh you know what, there is actually Biology after high school. Tons of it.

Dunning-Kruger Effect. Look it up.

cougar

Wed, 02/10/2010 - 15:16 | Link to Comment fresh.air
fresh.air's picture

The sad thing is the problem was everyone was telling Greece and the World that everything was fine, no problem.  So they spent like it.  Of course prices have been going up because of the debt for a long time, which exacerbated the problem.

currently reading: http://stocknews.freeoda.com... yes crisis will intensify

Wed, 02/10/2010 - 15:36 | Link to Comment IveBeenHad
IveBeenHad's picture

dont worry the directs are plugging the hole though curiously the indirects still showed up to play. i wonder if the china policy will have a immediate impact on the auctions. not today it seems. 

Wed, 02/10/2010 - 16:07 | Link to Comment Anonymous
Wed, 02/10/2010 - 16:28 | Link to Comment Anonymous
Wed, 02/10/2010 - 17:55 | Link to Comment SWRichmond
SWRichmond's picture

After reading this ZH article,

read this (pdf warning): http://drschoon.com/articles%5CAEFFrontRunningTheFedInTheTreasuryMarket.pdf

And then read this about banksters complaining about direct bidders: http://jessescrossroadscafe.blogspot.com/2010/02/primary-dealer-banks-wa...

 

muahahahahaha

Wed, 02/10/2010 - 17:25 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

What happens to the notes that the direct brings in?  I bet BS is smoking that pay pa, pay pa!

Wed, 02/10/2010 - 17:30 | Link to Comment ETF-Trader
ETF-Trader's picture

Bloomberg radio interviewee cites ZERO HEDGE today while discussing US treasury bonds in comparison to the last two year decline in the 1950's.

Everywhere you look in the finacial world, TYLER DURDEN and ZERO HEDGE are appearing everywhere.

All hailz and praise to TD and ZH!!!

Wed, 02/10/2010 - 18:54 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

You reap what you sew ;)

Wed, 02/10/2010 - 17:32 | Link to Comment ETF-Trader
ETF-Trader's picture

BTW, this radio clip occurred at 4:24 PM EST

Wed, 02/10/2010 - 17:48 | Link to Comment inflationary (not verified)
Wed, 02/10/2010 - 18:53 | Link to Comment Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Faber today:  "All countries will default on debt, including the US."  Wow!

Wed, 02/10/2010 - 19:20 | Link to Comment SwapThis
SwapThis's picture

http://climatechangefraud.com/politics-propaganda/5950-wikipedia-how-wil...

 

http://wattsupwiththat.com/2009/12/22/william-connolley-and-wikipedia-tu...

http://www.infowars.dk/content/how-wikipedias-green-doctor-rewrote-5428-...

Wikipedia for any subject is well....VERY "suspect", but for 'Climate Change' it is an absolute JOKE

"Starting in February 2003, just when opposition to the claims of the band members were beginning to gel, Connolley set to work on the Wikipedia site. He rewrote Wikipedia’s articles on global warming, on the greenhouse effect, on the instrumental temperature record, on the urban heat island, on climate models, on global cooling.

On Feb. 14, he began to erase the Little Ice Age; on Aug.11, the Medieval Warm Period. In October, he turned his attention to the hockey stick graph. He rewrote articles on the politics of global warming and on the scientists who were skeptical of the band. Richard Lindzen and Fred Singer, two of the world’s most distinguished climate scientists, were among his early targets, followed by others that the band especially hated, such as Willie Soon and Sallie Baliunas of the Harvard-Smithsonian Center for Astrophysics, authorities on the Medieval Warm Period. All told, Connolley created or rewrote 5,428 unique Wikipedia articles.

 

His control over Wikipedia was greater still, however, through the role he obtained at Wikipedia as a website administrator, which allowed him to act with virtual impunity. When Connolley didn’t like the subject of a certain article, he removed it — more than 500 articles of various descriptions disappeared at his hand.

 

When he disapproved of the arguments that others were making, he often had them barred — over 2,000 Wikipedia contributors who ran afoul of him found themselves blocked from making further contributions. Acolytes whose writing conformed to Connolley’s global warming views, in contrast, were rewarded with Wikipedia’s blessings. In these ways, Connolley turned Wikipedia into the missionary wing of the global warming movement.

 

The Medieval Warm Period disappeared, as did criticism of the global warming orthodoxy. With the release of the Climategate Emails, the disappearing trick has been exposed. The glorious Medieval Warm Period will remain in the history books, perhaps with an asterisk to describe how a band of zealots once tried to make it disappear."

 

 

Wed, 02/10/2010 - 19:42 | Link to Comment mynhair
mynhair's picture

Large direct takedowns courtesy of Berpanky and his scripted 'testimony'.

 

"Buy USTs banks, keep them in excess reserves, and we'll kick ya some higher interest.  No one wants to borrow, anyway."

Wed, 02/10/2010 - 21:56 | Link to Comment Anonymous
Thu, 02/11/2010 - 01:43 | Link to Comment Quantum Nucleonics
Quantum Nucleonics's picture

Most launch vehicles use liquid oxygen and hydrogen as a fuel, the product being water - not terribly toxic.  Solid rockets mostly use aluminum perchlorate, which precipitates out of the atmosphere pretty quickly.  Pollution from space launches is negligible.

 

Now if we had had the balls to stick with Project Orion (giant rocket propelled by the shock fronts of hundreds of low yield nuclear explosions)...

Thu, 02/11/2010 - 03:18 | Link to Comment Anonymous
Mon, 04/19/2010 - 10:29 | Link to Comment Tom123456
Tom123456's picture

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