Shit hitting fan somewhat earlier than expected

From The Foundry:

The U.S. Treasury auction of long-term bonds on Thursday was “terrible”, in the words of one Wall Street economist, with the rate on the 30 year bond jumping from 4.1 to 4.3 percent. This is just the first sign that the debt-based Obama economic stimulus plan is about to become a major drag on the recovery, just as expected.

Not surprising in its effect, but surprising in its quickness.  Investors at this point are very worried about inflation, and holding treasuries will be like burning money if it goes above that.  I posted a link to a graph on Planet Money a while back that showed how the federal government is absolutely draining all credit from the market.  It has pretty much priced itself - and everyone else - out of the cheap stuff now.