The Treasury announced Thursday a record $104 billion worth of bond auctions for next week, part of its herculean efforts to finance a rescue of the world’s largest economy.

The sales will exceed the previous record of $101 billion set in auctions that took place in the last week of April and consist of two-year, five-year and seven-year securities. That record was matched by another $101 billion week in May.

Though next week’s total was broadly in line with expectations, worries about supply have weighed on the U.S. government bond market, which will see a mammoth $2 trillion worth of new debt issued this year.

“Maybe the Treasury market reacted a little negatively and it will continue to be like this,” said Suvrat Prakash, U.S. interest rate strategist with BNP Paribas in New York. “Supply announcements and auctions on the horizon will make the market a bit nervous about upcoming debt.”

Bond prices were lower already in anticipation of the Treasury’s announcement and continued to sell off in reaction.

via Treasury to Auction $104 Billion In Debt Next Week, a Record – Bonds and Treasuries * US * News * Story – CNBC.com.

It’s the “Who Want’s to Own America Deal” round number three tomorrow.  So far China seems heavy in the bidding with Russia dropping out shortly before half-time while lagging behind in 6th place.  However, don’t discount the rich Oil Shieks across the Middle East participating as well they may be in a distant third but they’ve been stockpiling the oil money for years now.   We’ve still got a way to go before we learn who our children and grandchildren will be slaves too.  Thanks to the wonder’s of media we can learn who the politicians in Washington Democrat and Republican alike have sold us into slavery too in real time!!!

Take a minute to watch this short little video I posted previously and perhaps you’ll get an idea of the size of this problem that Obama giggled about in his interview.

“Uncertainty about the value of legacy assets is constraining the ability of financial institutions to raise private capital,” he said, adding that he hoped a public-private investment program will improve the ability to put a price on troubled mortgage and other assets.

PPIP has been so successful. I guess if you keep banging your head against a wall the thing to do is keep banging your head against the wall eventually it will get numb and all your problems will be solved. To Geithner the fool and tax cheat this logic makes sense.

No crisis like this has a simple or single cause, but countries around the world, borrowed too much and allowed the financial system to take on irresponsible levels of risk, Geithner said in his opening statement.

And to the Mr. Geithner, the fool and the cheat, the answer is to go further into debt.  Well tax cheats, government officials, liberals, and fools all think alike.  No wonder this idiot thinks it’s hard to set these prices on these TARP assets.  Oh, and don’t forget they’re supposed to sell back these assets (that they can’t value) once the market returns – dumb, dumb and dumber.

But wait… It’s ok after all the TARP money is already being “lost” by the hundreds of millions.  And is completely lopsided towards the Wall Street elite and against the US taxpayers.   But what would you expect from fools and liars like Obama and Geithner after all isn’t it Obama that thinks tax cuts are welfare checks.  I guess losing money is getting money.

Of course liberal’s have no arguments against this.  So the mainstream media remains quiet about these going on and ignores the tea bag  protests.  After all one can’t defend stupidity with logic.