Re: People Without Meaningful Lives Seek Power Over Others

On Wed, 28 Aug 2024 11:23:54 -0500, AMuzi <am@yellowjersey.org> wrote:

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.

Given sufficient government subsidies, even the unsustainable can be
perpetuated until the government runs out of taxpayers money or ink to
print the money.

My father used to say before turning on the TV news, "Let's see what
the world had done to us today".

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.

Yes, that was one aspect of the post WW2 recovery.  However, in the
US, the post war inflation was a bigger factor in the recovery:

"What happened with high inflation after WWII in 1946 when our
soldiers returned home?"
<https://www.onebridgewealth.com/content/WhathappenedwithhighinflationafterWWIIin1946whenoursoldiersreturnedhome>
When money in the bank shrinks in value due to inflation, people tend
to spend their savings.

There were also people who thought that the US and the world were
going to slide back into the 1930's depression because the high war
debts couldn't possibly be repaid.  So, they hoarded everything and
saved as much money as possible, waiting for the inevitable crash,
that never happened.  Sears and Roebuck decided inflation was good for
their business and greatly expanded.  Montgomery Ward waited for the
depression and refused to invest in expansion.  That decision nearly
killed the company.








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Jeff Liebermann                 jeffl@cruzio.com
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