Re: OT: America could go bankrupt : Musk

On Sat, 26 Oct 2024 17:28:33 -0400, bitrex wrote:

On 10/25/2024 4:15 AM, Jan Panteltje wrote:

On a sunny day (Fri, 25 Oct 2024 01:20:55 -0400) it happened bitrex
<user@example.net> wrote in
<671b2a78$2$1428050$882e4bbb@reader.netnews.com>:
 
 

This is not the first time the tech billionaire has sounded the
alarm over US debt.
Earlier this year, Musk said that the current rate of government
spending was putting the US in the fast lane to bankruptcy,
and that government overspending was stoking inflation.
>
In September, he wrote that every trillion dollars of debt added is
money that “our kids and grandkids are going to have to pay
somehow.”
If debt keeps growing at this pace, Musk warned, the US will be
trapped in a vicious cycle where “the only thing we’ll be able to
pay is interest.”
You can share this story on social media:

>
The simple - if nasty - solution to this problem is inflation. Let
the dollar inflate and the debt (and the cost of servicing it)
dwindles.
>
People will stop lending you money denominated in terms the inflating
currency, so it does effectively bankrupt the country. It has
happened from time to time and the countries involved have survived.
>
Musk doesn't know as much history as he should.
>
>

>
Milton Keynes wrote: "Practical men who believe themselves to be quite
exempt from any intellectual influence, are usually the slaves of some
defunct economist. Madmen in authority, who hear voices in the air,
distill their frenzy from some academic scribbler of a few years
back."
>
Almost like he had Musk in mind. He seems to lift his ideas on debt
from dead neo-Austrians and his ideas on money as a "database for
resource allocation"/information theory from dead Marxists.

 
I dunno how Musk does it, but I somehow like his succcess Tesla shares
are way up as sales had an unexpected plus.
He saved the bo[e]ing astronuts and Starlink really works He just
landed a rocket with booster at the launch tower, with 'chopsticks',
amazing! I would vote for him as president if I could.
Maybe that would save 'merrica from becoming a fourth world country.
As opposed to The radiating youash ashes that would follow a chameleon
demorat win ...

 
Remember when people were worried about the government/industry spying
on them?
 
<https://fortune.com/2024/10/18/twitter-x-privacy-policy-update-ai-user-

data-trump-court/>

 
Now people give it away for free! Really the most helpful fashion of
citizen

"Twitter/X is also setting up protections to protect against data
scrapers. Any user caught viewing or accessing over 1 million posts per
day will be fined $15,000 per million, the company said."

I'll be okay, then. I never read more than half that much.