What fool would buy 30 Year US Treasuries when the US is adding $2 trillion per year to the national debt? The US has to issue debt to pay the $1 trillion in annual interest on the existing debt. It is like you running a $50,000 balance on your credit card and adding $10,000 to your balance in order to pay the $10,000 in annual interest on the credit card. This is unsustainable. That which is not sustainable will not be sustained. When they pull back the curtain, will you be ready?
Yesterday, the US government tried to borrow $24 billion by selling a bunch of 30 year debt.
It was a huge disaster. In order to get enough people to buy, the rate had to dramatically increase. Even then, then primary dealers had to buy 25% of the debt. The primary dealer are… pic.twitter.com/3gbAoAUPdx
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Oops – wrong article . . .
When WHen WHEn WHEN?!!!!
Well, it will not be pleasant when it happens. Let’s enjoy the calm before the storm. Maybe the monetary alchemists at the Eccles building can keep it going a bit longer?
“The angle of repose, or critical angle of repose, of a granular material is the steepest angle of descent or dip relative to the horizontal plane on which the material can be piled without slumping. At this angle, the material on the slope face is on the verge of sliding. ”
https://en.wikipedia.org/wiki/Angle_of_repose
And takes on the shape of the eternal pyramid…
Farmer,
Good thing there wasn’t a wide EYE at the tippy top…I would have gotten worried.
(If you have to use a tag…you probably don’t have a name).
Before the end of 2027.
Denninger….
Bond Market Delivers Warning: Cut It Out
Stocks seemed to be having a pretty good day yesterday……. and then the bond refinancing auction went off.
Well, technically I guess it did, but it was extremely weak, with the “Primary Dealers” left holding the bag (but with a nice long tail for compensation) and a horrid bid-to-cover.
The reaction was immediate: Stocks rolled over immediately from what had been a pretty decent day, and bond yields – as expected – spiked.
Congress is almost-certainly ignoring this message as they have for the entire last year, but they better start paying attention because the Bond Market is in fact in charge — not The Fed — when it comes to checks and balances on deficit spending…
One way or another Congress is going to have to cut it out. They can do it voluntarily now, and rates will stop going up. They won’t come down materially — which means prices in Real Estate will decline — a lot. Like 50% or more from where they are today.
But if Congress doesn’t cut it out then the bond market will take care of the problem. Congress may authorize spending but that’s a “I hope someone will buy these bonds at a reasonable rate” action. If the bids are unreasonable the auction will be canceled and, if that occurs then there’s no money to spend whether Congress authorized it or not!
Better get your arms around this stuff folks, because its reality whether you like it or not, and if Congress tries to “bulldoze” their way through the market the result isn’t going to be rates where they are and a 50% decline in Real Estate and, in all likelihood stock prices.
https://market-ticker.org/akcs-www?blog=Market-Ticker
Does Karl truly believe the Bond market cannot be gamed by the Fed?
There comes a point where no one will continue the game. What happens when the FED is buying all the treasuries at 15%, 30%, more? This would light off Weimar level inflation. The vast majority do not know the FED is not part of the federal government or that it is a private corporation granted special super powers in 1913. Nor does Boobus Americanus know the stockholders are all Jews, mostly foreigners. In today’s environment with mindless anti-Semitism ramping up, a revolt in the streets against the FED with its buildings and officials being attacked is not far fetched. Therefore the FED, in self preservation must put the brakes on this shithead legislature and Senate. This should come with the FED refusing to buy any more bonds. That is going to be hell on earth but still far better for them than looting the country of every last dime and then getting to swing from lamp posts.
If and when this whole sorry saga comes to an end the US must end the FED once and for all.
Nothing happens [when the FED is buying all the treasuries].
Only when a noticeable number of people reject accepting USD when selling something, it’s game on.
https://www.zerohedge.com/personal-finance/russias-finance-ministry-says-again-digital-ruble-will-replace-cash#comment-stream
Essentially, [the digital ruble] is the real currency of the 22nd or any other century, which at the end of the day must replace cash
The Fed is the buyer keeping rates artificially low. They just don’t list it as QE now.
Fed buying the only reason that 10 year rates have gone from over 5% to around 4.5% in less than 2 weeks. That is a huge swing that takes a lot of money. Probably more than realistically available, but printer goes brrrr. Business networks are even admitting it without saying it.
Over 34 trillion in debt and the bottom hasn’t fallen out yet.
I’ve been hearing of this gigantic economic implosion that is supposed to happen for at least 20 years now. How long can they keep it going? What’s the limit? 50 trillion in debt?
I think what they’ll do is make things so bad that they’ll offer their solution of a digital currency, and will tell you that if you comply, the debt will be wiped out somehow, and they’ll be able to start over with a new and improved system.
No one knows. Can it be far off in the future. Anything is possible. But it is unlikely.
20 years?
Where were you about 12 to 15 years ago?
Taking an around the world trip with your mom.
They have to get the guns first…..duh.
But, but, but… the Chinese were hacked right before they were able to push the buy button!
Waiting to see if the Congress is going to pass any of the 12 appropriation bills. I’m still betting the US government is broke and there’s no money at all. The US government wants to keep passing continuing resolutions because they’re essentially living paycheck to paycheck. It’s obvious they can only spend what they’re collecting in taxes.
Titus breaks it down pretty good in this 20 minute video
It will all be whiteys fault not the Jew bankers.
And so it begins eh? 34 Trillion and still counting is proof of a conspiracy that began a long time ago. The charade continues for only as long as is necessary. Not one second longer.
ryan,
But TLPTP (L=Luciferian) have three problems you have to figure into the equation buddy.
They are not:
1. Omnipotent
2. Omniscient
3. Omnipresent
Their charade is exactly that…and the pretenders are just bad actors… (Actually stupid) creations who are extremely close to the Tower of Babble 2.0 rug…being pulled out from underneath them…again.
That rug will be pulled by the rug ‘Maker’ at the exact second he has long announced.
This is what the Gaetz Eight were so pissed off and motivated by. McCarthy caved to the Demunists, gave them more than they asked for and in addition to putting off any restraints until 2025, made a deal where the debt ceiling is f’ing suspended until then letting them run the keyboard/printing press full bore to US insolvency.
Next time some asshole runs their mouth about how awful Gaetz is remember only he and seven others (with well wisher squishes cowering in the shadows wishing them good luck) out 0f 435 had the courage to stand for this country.
McCarthy and that little cockbite McHenry made this horrific nonsensical “deal” and didn’t even get them to slow or shut down the border. What they did was ensure the continued flow from the CCP through Sequoia Capital to the RINO faction. TRAITORS!
The problem with socialism is you eventually run out of other people’s money.
Thatcher was a great lady in many ways…but her and Reagan both ended up just speed bumps….not that slowing Evil down is not a good thing.
I don’t discount them…they achieved what they could politically…Bush Sr. was delayed by Reagan surviving the second time Bush was in on a Presidential hit (Reagan was really never the same and the three legged stool only ended up with one leg – the M.I.C.) but this is a Spiritual War…and moving pieces on the board is what the enemy does.
However, God created the board and the pieces…so He just moves them around as announced in His prophecy…while the demonic piss ants scramble…following orders from bigger lost – rebellious insects…called Powers and Principalities.
Here in Beaufort Co., SC 72% of the voters approved a $469MM Skool Bond Issuance. Dumbasses, period. At 5%+ if floated soon. The last bonds were 4 yrs ago and at <2%. I don't know if they could have done this 18 months ago, perhaps you can only do this every 4 yrs.
Wait a year, it might be <2%. I HOPE. Hey, it's only $$$. Perhaps Parris Island will have an inflow of draftees to offset. And casualties at the Naval Hospital in Port Royal next door. FJB.
Yep the ‘Old Breed’ is long gone…now I suspect the politically correct ‘New Bleed’ has taken over.
I don’t know who is responsible but the Marines have now started co-ed boot camp. They were the last hold out.