Re: People Without Meaningful Lives Seek Power Over Others

On 8/28/2024 11:08 AM, AMuzi wrote:

On 8/28/2024 11:00 AM, Jeff Liebermann wrote:

On Wed, 28 Aug 2024 10:23:13 -0500, AMuzi <am@yellowjersey.org> wrote:
>

On 8/28/2024 8:23 AM, Catrike Ryder wrote:

The problem with socialism is that you eventually run out of other
peoples' money.
>
Margaret Thatcher

>
The entire wealth of the nation is $152 trillion.
US government bonds and obligations are $142 trillion, or 93%.
>
That time will come. And soon.

>
The problem with this prediction of doom is that there seems to be
several ways to calculate national debt and GDP (gross domestic
product).  Here's one calculation that claims the US is well past the
point where paying our debts is possible:
<https://www.usdebtclock.org>
>
It's not just the US, but also that most other countries are
over-extended:
<https://www.usdebtclock.org/world-debt-clock.html>
Which country will be the first to go under and which ones will remain
afloat the longest?
>
More interesting is who does the US owe money?
<https://www.pgpf.org/blog/2024/08/the-federal-government-has-borrowed-trillions-but-who-owns-all-that-debt>
2/3 of the US national debt is held by the Federal Reserve.  Is the
Federal Reserve going to foreclose on debts owed to themselves?
>
>

 I'm with Herb Stein, "Anything unsustainable will stop".
 How and when is why we have news reports for entertainment.

further to that:
https://www.usmoneyreserve.com/wp-content/uploads/2021/05/56516-home-debt.png
With similar ratios in 1946 and today, the late 1940s found us with the largest industrial base in the world (one of few intact besides Sweden) in a world desperate to rebuild with our products. Views of this future are not so bright.
--
Andrew Muzi
am@yellowjersey.org
Open every day since 1 April, 1971