OT BIG LIE OF THE DAY issue #2. Todays whopper is that there will be a shortage of 30 year T bonds issued by the US Government . Interest rates rose to 6.65 % and dropped lower. The supplygreenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread
of bonds will decrease because the government is paying off the debt. The Bond Market players believe this? ROTFMAO. A more credible explanation is that the buyers are scared of INFLATION and do not want to be locked into a 30 year bond that becomes worth less in a few years due to higher interest rates. DUH. The second one is that Unidentified Flying Objects do exist. There is still mass denial but millions of people have seen them up close including some triangular ones the size of a football field that have hovered motionless and quietly overhead in plain sight. The truth may come out this year. #3 is that the biological warfare scare over the century date change on 1-1-2000 either was under reported or IT DID NOT HAPPEN. Was the government really scared that this may happen or was it a diversion from other problems? #4 is that planes will not fall out of the sky. There has been a number of crashes and airline problems during the last 6 weeks. What is the primary cause? #5 is why are the major internet service providers crashing? Is this "hacking" or something else? If it is that easy to hack these sites and shut them down, why is this not reflected in the prices of these companies in the stock market or is it? I would not want to be a day trader and have the sit shut down before I can sell my speculative trade for the day and risk a big loss if it falls when I can not sell it. This is a real risk. I appreciate the additional input from you guys. You though of several I had not even though of yet.
-- Tom (Tom@bbb.bs), February 10, 2000
What we really need is to put all of these seemingly disconnected items into a single, unified conspiracy theory...
-- Mad Monk (email@example.com), February 10, 2000.
But, remember conspirators are human...little boys like us who want all the marbles. I am a conspiracy believer also, but the conspiracies change and there is a lot of backstabbing. Human Nature! With the dragon leading us on. Gimme, gimme, gimme!
-- Kyle (firstname.lastname@example.org), February 10, 2000.
>> A more credible explanation is that the buyers are scared of INFLATION and do not want to be locked into a 30 year bond ... <<
Uh, Tom, you say people are BUYING 30-year bonds because they DON'T WANT 30-year bonds??? And you find this explanantion "more credible"???
-- Brian McLaughlin (email@example.com), February 10, 2000.
Hey Brian, Tom didn't say that they were buying, he said that the buyers (who normally buy these things) do not want to be locked in to a 30 year bond. Therefore these people are not buyers at this time. A later post said that this was the worst bond sale during the last 17 years with bond prices lower and interest rates higher. Tom was right. There is no shortage of bonds if the lack of buyers today forced the prices down and the rates up. Was this a big lie to try to con people into buying these bonds while they are still available?
-- Alan (Al@readit.carefully), February 10, 2000.
Lawrence Summers screwed up bigtime. There were some concerns when he took over from Robert Rubin, primarily because Mr. Summers seems to think that he is much, much smarter than almost anyone else. He's seen as arrogant in a city where outsized egos are standard issue. That takes some doing.
Mr. Summers messed up this auction by barely communicating with the Street at all in the past few weeks and by sending mixed signals when he did, causing major bond players to get smacked around by all sorts of conflicting info. No one wanted to make any serious commitments when the bond market is this uncertain, hence these three dismal bond auctions.
But hey, this is The New Economy (TM) and "it's different this time". As long as techs keep climbing (and they will, forever and ever), everything's gonna be allllll riiiiiight!
-- DeeEmBee (firstname.lastname@example.org), February 10, 2000.