• OT: America could go bankrupt : Musk

    From Jan Panteltje@21:1/5 to All on Fri Oct 25 04:32:40 2024
    XPost: us.politics

    America could go bankrupt – Musk
    From:
    https://www.rt.com/news/606373-musk-us-bankruptcy-debt/

    As rt.com may be bocked in your country, here is the article

    America could go bankrupt – Musk
    The cost of servicing the federal debt will absorb tax revenue, leaving nothing for critical needs, the tech billionaire has predicted

    The US is spiraling towards bankruptcy and will quickly go bust if Washington doesn’t stop spending so much money,
    Tesla and SpaceX CEO Elon Musk has warned.

    Musk was commenting on a post on X, which highlighted skyrocketing interest payments on US government debt.

    “We now pay nearly $1.2 trillion per year in interest on the debt,
    about 23% of all taxes, tariffs and fees collected by the US govt goes to paying interest on the debt,”
    the Wall Street Silver account posted.

    Musk replied, warning that “if there is not a radical reduction of government expenditures,
    then, just like an individual who has taken on too much debt, America will become de facto bankrupt.”

    “The interest on the debt is trending to rapidly absorb all tax revenue, leaving nothing for critical needs,” he added.

    Musk previously pointed out in September that the cost of servicing the vast US federal debt has outstripped
    the current defense budget, which topped $840 billion this year.

    The US Treasury announced in late July that the national debt had surpassed $35 trillion, soaring by a trillion in a six-month period.
    The current figure is $35.7 trillion, according to the US Debt Clock.

    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:

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Bill Sloman@21:1/5 to Jan Panteltje on Fri Oct 25 15:43:27 2024
    XPost: us.politics

    On 25/10/2024 3:32 pm, Jan Panteltje wrote:
    America could go bankrupt – Musk
    From:
    https://www.rt.com/news/606373-musk-us-bankruptcy-debt/

    As rt.com may be bocked in your country, here is the article

    America could go bankrupt – Musk
    The cost of servicing the federal debt will absorb tax revenue, leaving nothing for critical needs, the tech billionaire has predicted

    The US is spiraling towards bankruptcy and will quickly go bust if Washington doesn’t stop spending so much money,
    Tesla and SpaceX CEO Elon Musk has warned.

    Musk was commenting on a post on X, which highlighted skyrocketing interest payments on US government debt.

    “We now pay nearly $1.2 trillion per year in interest on the debt,
    about 23% of all taxes, tariffs and fees collected by the US govt goes to paying interest on the debt,”
    the Wall Street Silver account posted.

    Musk replied, warning that “if there is not a radical reduction of government expenditures,
    then, just like an individual who has taken on too much debt, America will become de facto bankrupt.”

    “The interest on the debt is trending to rapidly absorb all tax revenue, leaving nothing for critical needs,” he added.

    Musk previously pointed out in September that the cost of servicing the vast US federal debt has outstripped
    the current defense budget, which topped $840 billion this year.

    The US Treasury announced in late July that the national debt had surpassed $35 trillion, soaring by a trillion in a six-month period.
    The current figure is $35.7 trillion, according to the US Debt Clock.

    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.

    --
    Bill Sloman, Sydney

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From bitrex@21:1/5 to All on Fri Oct 25 01:20:55 2024
    XPost: us.politics

    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.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Jan Panteltje@21:1/5 to user@example.net on Fri Oct 25 08:15:18 2024
    XPost: us.politics

    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 ...

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Clive Arthur@21:1/5 to bitrex on Fri Oct 25 09:59:48 2024
    On 25/10/2024 06:20, bitrex wrote:

    <snip>

    Milton Keynes wrote:

    :-)

    --
    Cheers
    Clive

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From john larkin@21:1/5 to All on Fri Oct 25 09:06:15 2024
    XPost: us.politics

    On Fri, 25 Oct 2024 04:32:40 GMT, Jan Panteltje <alien@comet.invalid>
    wrote:

    America could go bankrupt – Musk
    From:
    https://www.rt.com/news/606373-musk-us-bankruptcy-debt/

    As rt.com may be bocked in your country, here is the article

    America could go bankrupt – Musk
    The cost of servicing the federal debt will absorb tax revenue, leaving nothing for critical needs, the tech billionaire has predicted

    The US is spiraling towards bankruptcy and will quickly go bust if Washington doesn’t stop spending so much money,
    Tesla and SpaceX CEO Elon Musk has warned.

    Musk was commenting on a post on X, which highlighted skyrocketing interest payments on US government debt.

    “We now pay nearly $1.2 trillion per year in interest on the debt,
    about 23% of all taxes, tariffs and fees collected by the US govt goes to paying interest on the debt,?
    the Wall Street Silver account posted.

    Musk replied, warning that “if there is not a radical reduction of government expenditures,
    then, just like an individual who has taken on too much debt, America will become de facto bankrupt.?

    “The interest on the debt is trending to rapidly absorb all tax revenue, leaving nothing for critical needs,? he added.

    Musk previously pointed out in September that the cost of servicing the vast US federal debt has outstripped
    the current defense budget, which topped $840 billion this year.

    The US Treasury announced in late July that the national debt had surpassed $35 trillion, soaring by a trillion in a six-month period.
    The current figure is $35.7 trillion, according to the US Debt Clock.

    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 US can't go bankrupt; it can print all the money it needs.

    https://en.wikipedia.org/wiki/Modern_monetary_theory

    MMT is, at its core, a full-employment program for economists.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From bitrex@21:1/5 to Clive Arthur on Fri Oct 25 12:23:54 2024
    On 10/25/2024 4:59 AM, Clive Arthur wrote:
    On 25/10/2024 06:20, bitrex wrote:

    <snip>

    Milton Keynes wrote:

    :-)



    Not what I meant to write, but not a bad summary of how Musk et al
    operate! Milton in the good times, Keynes in the bad times.

    I've been scooped by AEI anyway:

    <https://www.aei.org/articles/are-we-all-milton-keynesians-now/>

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From bitrex@21:1/5 to Clive Arthur on Fri Oct 25 12:21:38 2024
    On 10/25/2024 4:59 AM, Clive Arthur wrote:
    On 25/10/2024 06:20, bitrex wrote:

    <snip>

    Milton Keynes wrote:

    :-)


    Not what I meant to write, but not a bad summary of how Musk et al
    operate! Milton in the good times, Keynes in the bad times.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From john larkin@21:1/5 to All on Fri Oct 25 15:10:56 2024
    XPost: us.politics

    On Fri, 25 Oct 2024 08:15:18 GMT, Jan Panteltje <alien@comet.invalid>
    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

    Not many individuals can start successful car companies. Or reuse
    giant rockets. Or become the richest person on Earth.

    He embodies the silicon valley philosophy "fail fast, fail often".
    History is littered with now-gone companies that had no new ideas and
    failed slowly, once.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Bill Sloman@21:1/5 to john larkin on Sat Oct 26 12:06:20 2024
    XPost: us.politics

    On 26/10/2024 3:06 am, john larkin wrote:
    On Fri, 25 Oct 2024 04:32:40 GMT, Jan Panteltje <alien@comet.invalid>
    wrote:

    America could go bankrupt – Musk
    From:
    https://www.rt.com/news/606373-musk-us-bankruptcy-debt/

    As rt.com may be bocked in your country, here is the article

    America could go bankrupt – Musk
    The cost of servicing the federal debt will absorb tax revenue, leaving nothing for critical needs, the tech billionaire has predicted

    The US is spiraling towards bankruptcy and will quickly go bust if Washington doesn’t stop spending so much money,
    Tesla and SpaceX CEO Elon Musk has warned.

    Musk was commenting on a post on X, which highlighted skyrocketing interest payments on US government debt.

    “We now pay nearly $1.2 trillion per year in interest on the debt,
    about 23% of all taxes, tariffs and fees collected by the US govt goes to paying interest on the debt,�
    the Wall Street Silver account posted.

    Musk replied, warning that “if there is not a radical reduction of government expenditures,
    then, just like an individual who has taken on too much debt, America will become de facto bankrupt.�

    “The interest on the debt is trending to rapidly absorb all tax revenue, leaving nothing for critical needs,� he added.

    Musk previously pointed out in September that the cost of servicing the vast US federal debt has outstripped
    the current defense budget, which topped $840 billion this year.

    The US Treasury announced in late July that the national debt had surpassed $35 trillion, soaring by a trillion in a six-month period.
    The current figure is $35.7 trillion, according to the US Debt Clock.

    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 US can't go bankrupt; it can print all the money it needs.

    https://en.wikipedia.org/wiki/Modern_monetary_theory

    MMT is, at its core, a full-employment program for economists.

    That's the way an ignoramus like John Larkin chooses to see it. He
    doesn't want to do the work required to let him get some idea of what is
    being said. Despising it is a much cheaper option.

    --
    Bill Sloman, Sydney

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Jan Panteltje@21:1/5 to JL@gct.com on Sat Oct 26 06:34:34 2024
    XPost: us.politics

    On a sunny day (Fri, 25 Oct 2024 09:06:15 -0700) it happened john larkin <JL@gct.com> wrote in <v7gnhj528cseu16a7lj5shh62lha3aohmo@4ax.com>:

    On Fri, 25 Oct 2024 04:32:40 GMT, Jan Panteltje <alien@comet.invalid>
    wrote:

    America could go bankrupt – Musk
    From:
    https://www.rt.com/news/606373-musk-us-bankruptcy-debt/

    As rt.com may be bocked in your country, here is the article

    America could go bankrupt – Musk
    The cost of servicing the federal debt will absorb tax revenue, leaving nothing for critical needs, the tech billionaire has
    predicted

    The US is spiraling towards bankruptcy and will quickly go bust if Washington doesn’t stop spending so much money,
    Tesla and SpaceX CEO Elon Musk has warned.

    Musk was commenting on a post on X, which highlighted skyrocketing interest payments on US government debt.

    “We now pay nearly $1.2 trillion per year in interest on the debt,
    about 23% of all taxes, tariffs and fees collected by the US govt goes to paying interest on the debt,?
    the Wall Street Silver account posted.

    Musk replied, warning that “if there is not a radical reduction of government expenditures,
    then, just like an individual who has taken on too much debt, America will become de facto bankrupt.?

    “The interest on the debt is trending to rapidly absorb all tax revenue, leaving nothing for critical needs,? he added.

    Musk previously pointed out in September that the cost of servicing the vast US federal debt has outstripped
    the current defense budget, which topped $840 billion this year.

    The US Treasury announced in late July that the national debt had surpassed $35 trillion, soaring by a trillion in a six-month
    period.
    The current figure is $35.7 trillion, according to the US Debt Clock.

    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 US can't go bankrupt; it can print all the money it needs.

    Well you may get barter and gold trade.
    https://www.reddit.com/r/preppers/comments/y9fpuv/buying_silver_and_gold_for_bartering/

    https://en.wikipedia.org/wiki/Modern_monetary_theory

    MMT is, at its core, a full-employment program for economists.

    Yes, its a long read, and people disagree with each other.
    In the end you need food and housing,
    even if government is dead or hiding in caves in fear of nukes from countries that want their money back... or grab your stuff.
    If there is no gov to enforce the value of the paper it prints...
    That leaves barter.. Pay the farmer for milk, meat, grains, by services like plowing his fields etc.. making stuff he needs..
    Other less essential things.. millions will die ..
    Bit of climate change .. migration... future of mankind?
    We are likely just a transient.
    Happening all over the universe!
    All connected. quantum coupled if you will.

    There was a video yesterday, on BeepBeebSee I think it was, of wasps or bees defending their nest in a tree against a drone used to look at it..
    The drone ended covered up with insect parts and poison.
    Each insect sacrifizing itself to defend their nest.
    All for nothing, nest was removed later.
    There but for fortune, go you and I. (song)
    Joan Baez - There But For Fortune - YouTube
    https://www.youtube.com/watch?v=S4BYOJ1tc-k






    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Clive Arthur@21:1/5 to bitrex on Sat Oct 26 12:03:00 2024
    On 25/10/2024 17:23, bitrex wrote:
    On 10/25/2024 4:59 AM, Clive Arthur wrote:
    On 25/10/2024 06:20, bitrex wrote:

    <snip>

    Milton Keynes wrote:

    :-)



    Not what I meant to write, but not a bad summary of how Musk et al
    operate! Milton in the good times, Keynes in the bad times.

    I've been scooped by AEI anyway:

    <https://www.aei.org/articles/are-we-all-milton-keynesians-now/>

    They were scooped long ago...

    https://en.wikipedia.org/wiki/Milton_Keynes

    It's a much-derided town (now a city) infamous for its roundabouts and
    concrete cows.

    --
    Cheers
    Clive

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From bitrex@21:1/5 to Jan Panteltje on Sat Oct 26 17:28:33 2024
    XPost: us.politics

    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

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From john larkin@21:1/5 to clive@nowaytoday.co.uk on Sat Oct 26 15:06:01 2024
    On Sat, 26 Oct 2024 12:03:00 +0100, Clive Arthur
    <clive@nowaytoday.co.uk> wrote:

    On 25/10/2024 17:23, bitrex wrote:
    On 10/25/2024 4:59 AM, Clive Arthur wrote:
    On 25/10/2024 06:20, bitrex wrote:

    <snip>

    Milton Keynes wrote:

    :-)



    Not what I meant to write, but not a bad summary of how Musk et al
    operate! Milton in the good times, Keynes in the bad times.

    I've been scooped by AEI anyway:

    <https://www.aei.org/articles/are-we-all-milton-keynesians-now/>

    They were scooped long ago...

    https://en.wikipedia.org/wiki/Milton_Keynes

    It's a much-derided town (now a city) infamous for its roundabouts and >concrete cows.

    Been there. Had a meeting about building a tomographic atom probe, in
    a former cow barn. Sort of cool, actually.

    https://en.wikipedia.org/wiki/Imago_Scientific_Instruments

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From john larkin@21:1/5 to All on Sat Oct 26 15:09:46 2024
    XPost: us.politics

    On Sat, 26 Oct 2024 06:34:34 GMT, Jan Panteltje <alien@comet.invalid>
    wrote:

    On a sunny day (Fri, 25 Oct 2024 09:06:15 -0700) it happened john larkin ><JL@gct.com> wrote in <v7gnhj528cseu16a7lj5shh62lha3aohmo@4ax.com>:

    On Fri, 25 Oct 2024 04:32:40 GMT, Jan Panteltje <alien@comet.invalid> >>wrote:

    America could go bankrupt – Musk
    From:
    https://www.rt.com/news/606373-musk-us-bankruptcy-debt/

    As rt.com may be bocked in your country, here is the article

    America could go bankrupt – Musk
    The cost of servicing the federal debt will absorb tax revenue, leaving nothing for critical needs, the tech billionaire has
    predicted

    The US is spiraling towards bankruptcy and will quickly go bust if Washington doesn’t stop spending so much money,
    Tesla and SpaceX CEO Elon Musk has warned.

    Musk was commenting on a post on X, which highlighted skyrocketing interest payments on US government debt.

    “We now pay nearly $1.2 trillion per year in interest on the debt, >>>about 23% of all taxes, tariffs and fees collected by the US govt goes to paying interest on the debt,?
    the Wall Street Silver account posted.

    Musk replied, warning that “if there is not a radical reduction of government expenditures,
    then, just like an individual who has taken on too much debt, America will become de facto bankrupt.?

    “The interest on the debt is trending to rapidly absorb all tax revenue, leaving nothing for critical needs,? he added.

    Musk previously pointed out in September that the cost of servicing the vast US federal debt has outstripped
    the current defense budget, which topped $840 billion this year.

    The US Treasury announced in late July that the national debt had surpassed $35 trillion, soaring by a trillion in a six-month
    period.
    The current figure is $35.7 trillion, according to the US Debt Clock.

    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 US can't go bankrupt; it can print all the money it needs.

    Well you may get barter and gold trade.
    https://www.reddit.com/r/preppers/comments/y9fpuv/buying_silver_and_gold_for_bartering/

    https://en.wikipedia.org/wiki/Modern_monetary_theory

    MMT is, at its core, a full-employment program for economists.

    Yes, its a long read, and people disagree with each other.
    In the end you need food and housing,
    even if government is dead or hiding in caves in fear of nukes from countries that want their money back... or grab your stuff.
    If there is no gov to enforce the value of the paper it prints...
    That leaves barter.. Pay the farmer for milk, meat, grains, by services like plowing his fields etc.. making stuff he needs..
    Other less essential things.. millions will die ..
    Bit of climate change .. migration... future of mankind?
    We are likely just a transient.
    Happening all over the universe!
    All connected. quantum coupled if you will.

    There was a video yesterday, on BeepBeebSee I think it was, of wasps or bees defending their nest in a tree against a drone used to look at it..
    The drone ended covered up with insect parts and poison.
    Each insect sacrifizing itself to defend their nest.
    All for nothing, nest was removed later.
    There but for fortune, go you and I. (song)
    Joan Baez - There But For Fortune - YouTube
    https://www.youtube.com/watch?v=S4BYOJ1tc-k






    Some of her notes were perfect sine waves on an oscilloscope, the only
    ones I've seen.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Jan Panteltje@21:1/5 to user@example.net on Sun Oct 27 07:13:23 2024
    XPost: us.politics

    On a sunny day (Sat, 26 Oct 2024 17:28:33 -0400) it happened bitrex <user@example.net> wrote in <671d5f01$2$2873013$882e4bbb@reader.netnews.com>:

    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

    I sort of assume 'they' know everything 'bout me
    that leaves room to play <them>
    The secret commienukation I do with birds carrying micro SDcards, all data exored with Pi.
    I trust you guys not to tell Annie Boddy

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Jan Panteltje@21:1/5 to JL@gct.com on Sun Oct 27 07:29:13 2024
    XPost: us.politics

    On a sunny day (Sat, 26 Oct 2024 15:09:46 -0700) it happened john larkin <JL@gct.com> wrote in <o2qqhjpggv0useuauto91nqlth8660psus@4ax.com>:

    On Sat, 26 Oct 2024 06:34:34 GMT, Jan Panteltje <alien@comet.invalid>
    wrote:

    On a sunny day (Fri, 25 Oct 2024 09:06:15 -0700) it happened john larkin >><JL@gct.com> wrote in <v7gnhj528cseu16a7lj5shh62lha3aohmo@4ax.com>:

    On Fri, 25 Oct 2024 04:32:40 GMT, Jan Panteltje <alien@comet.invalid> >>>wrote:

    America could go bankrupt – Musk
    From:
    https://www.rt.com/news/606373-musk-us-bankruptcy-debt/

    As rt.com may be bocked in your country, here is the article

    America could go bankrupt – Musk
    The cost of servicing the federal debt will absorb tax revenue, leaving nothing for critical needs, the tech billionaire has
    predicted

    The US is spiraling towards bankruptcy and will quickly go bust if Washington doesn’t stop spending so much money,
    Tesla and SpaceX CEO Elon Musk has warned.

    Musk was commenting on a post on X, which highlighted skyrocketing interest payments on US government debt.

    “We now pay nearly $1.2 trillion per year in interest on the debt, >>>>about 23% of all taxes, tariffs and fees collected by the US govt goes to paying interest on the debt,?
    the Wall Street Silver account posted.

    Musk replied, warning that “if there is not a radical reduction of government expenditures,
    then, just like an individual who has taken on too much debt, America will become de facto bankrupt.?

    “The interest on the debt is trending to rapidly absorb all tax revenue, leaving nothing for critical needs,? he added.

    Musk previously pointed out in September that the cost of servicing the vast US federal debt has outstripped
    the current defense budget, which topped $840 billion this year.

    The US Treasury announced in late July that the national debt had surpassed $35 trillion, soaring by a trillion in a
    six-month
    period.
    The current figure is $35.7 trillion, according to the US Debt Clock.

    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 US can't go bankrupt; it can print all the money it needs.

    Well you may get barter and gold trade.
    https://www.reddit.com/r/preppers/comments/y9fpuv/buying_silver_and_gold_for_bartering/

    https://en.wikipedia.org/wiki/Modern_monetary_theory

    MMT is, at its core, a full-employment program for economists.

    Yes, its a long read, and people disagree with each other.
    In the end you need food and housing,
    even if government is dead or hiding in caves in fear of nukes from countries that want their money back... or grab your
    stuff.
    If there is no gov to enforce the value of the paper it prints...
    That leaves barter.. Pay the farmer for milk, meat, grains, by services like plowing his fields etc.. making stuff he needs..
    Other less essential things.. millions will die ..
    Bit of climate change .. migration... future of mankind?
    We are likely just a transient.
    Happening all over the universe!
    All connected. quantum coupled if you will.

    There was a video yesterday, on BeepBeebSee I think it was, of wasps or bees defending their nest in a tree against a drone
    used to look at it..
    The drone ended covered up with insect parts and poison.
    Each insect sacrifizing itself to defend their nest.
    All for nothing, nest was removed later.
    There but for fortune, go you and I. (song)
    Joan Baez - There But For Fortune - YouTube
    https://www.youtube.com/watch?v=S4BYOJ1tc-k






    Some of her notes were perfect sine waves on an oscilloscope, the only
    ones I've seen.

    I liked that voice, her singing, had a picture of her hanging above my bed in the early seventies....

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Cursitor Doom@21:1/5 to bitrex on Sun Oct 27 08:39:27 2024
    XPost: us.politics

    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.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Cursitor Doom@21:1/5 to Jan Panteltje on Sun Oct 27 08:41:04 2024
    XPost: us.politics

    On Sun, 27 Oct 2024 07:13:23 GMT, Jan Panteltje wrote:

    On a sunny day (Sat, 26 Oct 2024 17:28:33 -0400) it happened bitrex <user@example.net> wrote in
    <671d5f01$2$2873013$882e4bbb@reader.netnews.com>:

    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

    I sort of assume 'they' know everything 'bout me that leaves room to
    play <them>
    The secret commienukation I do with birds carrying micro SDcards, all
    data exored with Pi.
    I trust you guys not to tell Annie Boddy

    You're quite safe, Jan. Everyone on this board is 100% trustworthy. :)

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Cursitor Doom@21:1/5 to john larkin on Sun Oct 27 08:48:15 2024
    On Sat, 26 Oct 2024 15:06:01 -0700, john larkin wrote:

    On Sat, 26 Oct 2024 12:03:00 +0100, Clive Arthur
    <clive@nowaytoday.co.uk> wrote:

    On 25/10/2024 17:23, bitrex wrote:
    On 10/25/2024 4:59 AM, Clive Arthur wrote:
    On 25/10/2024 06:20, bitrex wrote:

    <snip>

    Milton Keynes wrote:

    :-)



    Not what I meant to write, but not a bad summary of how Musk et al
    operate! Milton in the good times, Keynes in the bad times.

    I've been scooped by AEI anyway:

    <https://www.aei.org/articles/are-we-all-milton-keynesians-now/>

    They were scooped long ago...

    https://en.wikipedia.org/wiki/Milton_Keynes

    It's a much-derided town (now a city) infamous for its roundabouts and >>concrete cows.

    Been there. Had a meeting about building a tomographic atom probe, in a former cow barn. Sort of cool, actually.

    https://en.wikipedia.org/wiki/Imago_Scientific_Instruments

    A most awful, depressing place. How long ago were you there?

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Cursitor Doom@21:1/5 to john larkin on Sun Oct 27 08:59:58 2024
    XPost: us.politics

    On Sat, 26 Oct 2024 15:09:46 -0700, john larkin wrote:

    On Sat, 26 Oct 2024 06:34:34 GMT, Jan Panteltje <alien@comet.invalid>
    wrote:

    On a sunny day (Fri, 25 Oct 2024 09:06:15 -0700) it happened john larkin >><JL@gct.com> wrote in <v7gnhj528cseu16a7lj5shh62lha3aohmo@4ax.com>:

    On Fri, 25 Oct 2024 04:32:40 GMT, Jan Panteltje <alien@comet.invalid> >>>wrote:

    America could go bankrupt – Musk From:
    https://www.rt.com/news/606373-musk-us-bankruptcy-debt/

    As rt.com may be bocked in your country, here is the article

    America could go bankrupt – Musk
    The cost of servicing the federal debt will absorb tax revenue,
    leaving nothing for critical needs, the tech billionaire has predicted

    The US is spiraling towards bankruptcy and will quickly go bust if >>>>Washington doesn’t stop spending so much money,
    Tesla and SpaceX CEO Elon Musk has warned.

    Musk was commenting on a post on X, which highlighted skyrocketing >>>>interest payments on US government debt.

    “We now pay nearly $1.2 trillion per year in interest on the debt, >>>>about 23% of all taxes, tariffs and fees collected by the US govt goes >>>>to paying interest on the debt,â€?
    the Wall Street Silver account posted.

    Musk replied, warning that “if there is not a radical reduction of >>>>government expenditures,
    then, just like an individual who has taken on too much debt, America >>>>will become de facto bankrupt.�

    “The interest on the debt is trending to rapidly absorb all tax >>>>revenue, leaving nothing for critical needs,â€? he added.

    Musk previously pointed out in September that the cost of servicing
    the vast US federal debt has outstripped the current defense budget, >>>>which topped $840 billion this year.

    The US Treasury announced in late July that the national debt had >>>>surpassed $35 trillion, soaring by a trillion in a six-month period. >>>>The current figure is $35.7 trillion, according to the US Debt Clock.

    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.â€?
    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 US can't go bankrupt; it can print all the money it needs.

    Well you may get barter and gold trade.
    https://www.reddit.com/r/preppers/comments/y9fpuv/ buying_silver_and_gold_for_bartering/

    https://en.wikipedia.org/wiki/Modern_monetary_theory

    MMT is, at its core, a full-employment program for economists.

    Yes, its a long read, and people disagree with each other.
    In the end you need food and housing,
    even if government is dead or hiding in caves in fear of nukes from >>countries that want their money back... or grab your stuff.
    If there is no gov to enforce the value of the paper it prints...
    That leaves barter.. Pay the farmer for milk, meat, grains, by services >>like plowing his fields etc.. making stuff he needs..
    Other less essential things.. millions will die ..
    Bit of climate change .. migration... future of mankind?
    We are likely just a transient.
    Happening all over the universe!
    All connected. quantum coupled if you will.

    There was a video yesterday, on BeepBeebSee I think it was, of wasps or >>bees defending their nest in a tree against a drone used to look at it.. >>The drone ended covered up with insect parts and poison.
    Each insect sacrifizing itself to defend their nest.
    All for nothing, nest was removed later.
    There but for fortune, go you and I. (song)
    Joan Baez - There But For Fortune - YouTube
    https://www.youtube.com/watch?v=S4BYOJ1tc-k






    Some of her notes were perfect sine waves on an oscilloscope, the only
    ones I've seen.

    Patsy was way better.

    https://www.youtube.com/watch?v=owNATIdymvs

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Jan Panteltje@21:1/5 to Doom on Sun Oct 27 09:25:42 2024
    XPost: us.politics

    On a sunny day (Sun, 27 Oct 2024 08:59:58 -0000 (UTC)) it happened Cursitor Doom <cd999666@notformail.com> wrote in <vfkved$7486$5@dont-email.me>:

    On Sat, 26 Oct 2024 15:09:46 -0700, john larkin wrote:

    On Sat, 26 Oct 2024 06:34:34 GMT, Jan Panteltje <alien@comet.invalid>
    wrote:

    On a sunny day (Fri, 25 Oct 2024 09:06:15 -0700) it happened john larkin >>><JL@gct.com> wrote in <v7gnhj528cseu16a7lj5shh62lha3aohmo@4ax.com>:

    On Fri, 25 Oct 2024 04:32:40 GMT, Jan Panteltje <alien@comet.invalid> >>>>wrote:

    America could go bankrupt – Musk From:
    https://www.rt.com/news/606373-musk-us-bankruptcy-debt/

    As rt.com may be bocked in your country, here is the article

    America could go bankrupt – Musk
    The cost of servicing the federal debt will absorb tax revenue, >>>>>leaving nothing for critical needs, the tech billionaire has predicted >>>>>
    The US is spiraling towards bankruptcy and will quickly go bust if >>>>>Washington doesn’t stop spending so much money,
    Tesla and SpaceX CEO Elon Musk has warned.

    Musk was commenting on a post on X, which highlighted skyrocketing >>>>>interest payments on US government debt.

    “We now pay nearly $1.2 trillion per year in interest on the debt, >>>>>about 23% of all taxes, tariffs and fees collected by the US govt goes >>>>>to paying interest on the debt,â€?
    the Wall Street Silver account posted.

    Musk replied, warning that “if there is not a radical reduction of >>>>>government expenditures,
    then, just like an individual who has taken on too much debt, America >>>>>will become de facto bankrupt.�

    “The interest on the debt is trending to rapidly absorb all tax >>>>>revenue, leaving nothing for critical needs,â€? he added.

    Musk previously pointed out in September that the cost of servicing >>>>>the vast US federal debt has outstripped the current defense budget, >>>>>which topped $840 billion this year.

    The US Treasury announced in late July that the national debt had >>>>>surpassed $35 trillion, soaring by a trillion in a six-month period. >>>>>The current figure is $35.7 trillion, according to the US Debt Clock. >>>>>
    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.â€?
    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 US can't go bankrupt; it can print all the money it needs.

    Well you may get barter and gold trade.
    https://www.reddit.com/r/preppers/comments/y9fpuv/ >buying_silver_and_gold_for_bartering/

    https://en.wikipedia.org/wiki/Modern_monetary_theory

    MMT is, at its core, a full-employment program for economists.

    Yes, its a long read, and people disagree with each other.
    In the end you need food and housing,
    even if government is dead or hiding in caves in fear of nukes from >>>countries that want their money back... or grab your stuff.
    If there is no gov to enforce the value of the paper it prints...
    That leaves barter.. Pay the farmer for milk, meat, grains, by services >>>like plowing his fields etc.. making stuff he needs..
    Other less essential things.. millions will die ..
    Bit of climate change .. migration... future of mankind?
    We are likely just a transient.
    Happening all over the universe!
    All connected. quantum coupled if you will.

    There was a video yesterday, on BeepBeebSee I think it was, of wasps or >>>bees defending their nest in a tree against a drone used to look at it.. >>>The drone ended covered up with insect parts and poison.
    Each insect sacrifizing itself to defend their nest.
    All for nothing, nest was removed later.
    There but for fortune, go you and I. (song)
    Joan Baez - There But For Fortune - YouTube
    https://www.youtube.com/watch?v=S4BYOJ1tc-k






    Some of her notes were perfect sine waves on an oscilloscope, the only
    ones I've seen.

    Patsy was way better.

    https://www.youtube.com/watch?v=owNATIdymvs

    Blondie 'Heart of glass' has a special voice too:
    https://www.youtube.com/watch?v=WGU_4-5RaxU

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Bill Sloman@21:1/5 to Cursitor Doom on Mon Oct 28 00:07:39 2024
    On 27/10/2024 7:48 pm, Cursitor Doom wrote:
    On Sat, 26 Oct 2024 15:06:01 -0700, john larkin wrote:

    On Sat, 26 Oct 2024 12:03:00 +0100, Clive Arthur
    <clive@nowaytoday.co.uk> wrote:

    On 25/10/2024 17:23, bitrex wrote:
    On 10/25/2024 4:59 AM, Clive Arthur wrote:
    On 25/10/2024 06:20, bitrex wrote:

    <snip>

    A most awful, depressing place. How long ago were you there?

    I think the last time I visited it was in 1975 when an Australian architect/town planner friend and his family were living there. The
    architect was working for the Milton Keynes Council. He didn't find it
    awful or depressing - it was tolerably well planned.

    He was a bit rude about the "set-square architecture". Apparently there
    was a strip of three and four storey terrace houses that had flat roof
    line while the ground on which they were built went up and down, and the building went from three to four storeys to absorb the variation.

    The Open University is based there - not the sort of thing you would
    approved of.

    --
    Bil Sloman, Sydney

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From john larkin@21:1/5 to cd999666@notformail.com on Sun Oct 27 11:15:06 2024
    On Sun, 27 Oct 2024 08:48:15 -0000 (UTC), Cursitor Doom <cd999666@notformail.com> wrote:

    On Sat, 26 Oct 2024 15:06:01 -0700, john larkin wrote:

    On Sat, 26 Oct 2024 12:03:00 +0100, Clive Arthur
    <clive@nowaytoday.co.uk> wrote:

    On 25/10/2024 17:23, bitrex wrote:
    On 10/25/2024 4:59 AM, Clive Arthur wrote:
    On 25/10/2024 06:20, bitrex wrote:

    <snip>

    Milton Keynes wrote:

    :-)



    Not what I meant to write, but not a bad summary of how Musk et al
    operate! Milton in the good times, Keynes in the bad times.

    I've been scooped by AEI anyway:

    <https://www.aei.org/articles/are-we-all-milton-keynesians-now/>

    They were scooped long ago...

    https://en.wikipedia.org/wiki/Milton_Keynes

    It's a much-derided town (now a city) infamous for its roundabouts and >>>concrete cows.

    Been there. Had a meeting about building a tomographic atom probe, in a
    former cow barn. Sort of cool, actually.

    https://en.wikipedia.org/wiki/Imago_Scientific_Instruments

    A most awful, depressing place. How long ago were you there?

    A few hours. We were staying in Oxford, which is a magical place.

    One of the dons was a pioneer in atom probing, so we did most of our
    meetings there. I have no idea why we met in a cowshed in MK.

    An old building here is 100 years old. Over there, it's 1500. Good
    thing that earthquakes are rare, or most of England would be a pile of
    rubble.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From albert@spenarnc.xs4all.nl@21:1/5 to alien@comet.invalid on Tue Oct 29 16:47:55 2024
    XPost: us.politics

    In article <vff719$1c300$1@solani.org>,
    Jan Panteltje <alien@comet.invalid> wrote:
    America could go bankrupt – Musk
    From:
    https://www.rt.com/news/606373-musk-us-bankruptcy-debt/

    As rt.com may be bocked in your country, here is the article

    America could go bankrupt – Musk
    The cost of servicing the federal debt will absorb tax revenue, leaving >nothing for critical needs, the tech billionaire has predicted

    The US is spiraling towards bankruptcy and will quickly go bust if
    Washington doesn’t stop spending so much money,
    Tesla and SpaceX CEO Elon Musk has warned.

    Musk was commenting on a post on X, which highlighted skyrocketing
    interest payments on US government debt.

    “We now pay nearly $1.2 trillion per year in interest on the debt,
    about 23% of all taxes, tariffs and fees collected by the US govt goes
    to paying interest on the debt,”
    the Wall Street Silver account posted.

    Musk replied, warning that “if there is not a radical reduction of >government expenditures,
    then, just like an individual who has taken on too much debt, America
    will become de facto bankrupt.”

    “The interest on the debt is trending to rapidly absorb all tax
    revenue, leaving nothing for critical needs,” he added.

    Musk previously pointed out in September that the cost of servicing the
    vast US federal debt has outstripped
    the current defense budget, which topped $840 billion this year.

    The US Treasury announced in late July that the national debt had
    surpassed $35 trillion, soaring by a trillion in a six-month period.
    The current figure is $35.7 trillion, according to the US Debt Clock.

    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:

    There are a few measures. There are 800 military bases around the globe. Certainly some hundred around China make no sense, these could be closed. Install a Reagan era tax for companies, unless you think Reagan is a
    communist.

    Groetjes Albert
    --
    Temu exploits Christians: (Disclaimer, only 10 apostles)
    Last Supper Acrylic Suncatcher - 15Cm Round Stained Glass- Style Wall
    Art For Home, Office And Garden Decor - Perfect For Windows, Bars,
    And Gifts For Friends Family And Colleagues.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From albert@spenarnc.xs4all.nl@21:1/5 to jl@glen--canyon.com on Tue Oct 29 16:57:12 2024
    XPost: us.politics

    In article <qg5ohj9hf9lgk9d7k0pql4l4fcnuuo0s0d@4ax.com>,
    john larkin <jl@glen--canyon.com> wrote:
    On Fri, 25 Oct 2024 08:15:18 GMT, Jan Panteltje <alien@comet.invalid>
    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

    Not many individuals can start successful car companies.

    Elon Musk doesn't fall in this category. He bought Tesla with
    inherited money from the successful founders, then he got rid of them. Knowledgeable people predict the bankruptcy of Tesla with 5 years,
    because there are no new cars developed, and an affordable hybrid
    is long overdue. Chinese manufacturers don't gamble their future
    with alone pure EV's. Cars are a mass market, and most people cannot
    buy the cheapest Tesla.

    Also he manages to run Twitter into the ground for as far a positive
    force.

    Groetjes Albert
    --
    Temu exploits Christians: (Disclaimer, only 10 apostles)
    Last Supper Acrylic Suncatcher - 15Cm Round Stained Glass- Style Wall
    Art For Home, Office And Garden Decor - Perfect For Windows, Bars,
    And Gifts For Friends Family And Colleagues.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From bitrex@21:1/5 to albert@spenarnc.xs4all.nl on Wed Oct 30 17:33:36 2024
    XPost: us.politics

    On 10/29/2024 11:57 AM, albert@spenarnc.xs4all.nl wrote:

    I dunno how Musk does it, but I somehow like his succcess

    Not many individuals can start successful car companies.

    Elon Musk doesn't fall in this category. He bought Tesla with
    inherited money from the successful founders, then he got rid of them. Knowledgeable people predict the bankruptcy of Tesla with 5 years,
    because there are no new cars developed, and an affordable hybrid
    is long overdue. Chinese manufacturers don't gamble their future
    with alone pure EV's. Cars are a mass market, and most people cannot
    buy the cheapest Tesla.

    Also he manages to run Twitter into the ground for as far a positive
    force.

    Groetjes Albert

    Anti-trans hysteria is a serious disease that is well-known for breaking
    the cognitive faculties of middle-aged people exposed to sufficient
    doses of it.

    One of Musk's kids came out as trans and it clearly broke his mind. At
    least Trump's kids seem to like him, I tend to never trust a man whose
    own kids think he sucks.

    That's not why he loves Trump though, a few of his pie-in-the-sky
    ventures actually started making money and he just don't wanna pay taxes.

    Pretty quick philosophical turn for the guy who voted Biden and
    privately said Trump was a "loser" just 4 years ago but not an
    unpredictable chain of events for a man who has no values other than his
    own sweet ass.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From Jan Panteltje@21:1/5 to user@example.net on Thu Oct 31 06:40:49 2024
    XPost: us.politics

    On a sunny day (Wed, 30 Oct 2024 17:33:36 -0400) it happened bitrex <user@example.net> wrote in <6722a631$0$212419$882e4bbb@reader.netnews.com>:

    On 10/29/2024 11:57 AM, albert@spenarnc.xs4all.nl wrote:

    I dunno how Musk does it, but I somehow like his succcess

    Not many individuals can start successful car companies.

    Elon Musk doesn't fall in this category. He bought Tesla with
    inherited money from the successful founders, then he got rid of them.
    Knowledgeable people predict the bankruptcy of Tesla with 5 years,
    because there are no new cars developed, and an affordable hybrid
    is long overdue. Chinese manufacturers don't gamble their future
    with alone pure EV's. Cars are a mass market, and most people cannot
    buy the cheapest Tesla.

    Also he manages to run Twitter into the ground for as far a positive
    force.

    Groetjes Albert

    Anti-trans hysteria is a serious disease that is well-known for breaking
    the cognitive faculties of middle-aged people exposed to sufficient
    doses of it.

    One of Musk's kids came out as trans and it clearly broke his mind. At
    least Trump's kids seem to like him, I tend to never trust a man whose
    own kids think he sucks.

    That's not why he loves Trump though, a few of his pie-in-the-sky
    ventures actually started making money and he just don't wanna pay taxes.

    Pretty quick philosophical turn for the guy who voted Biden and
    privately said Trump was a "loser" just 4 years ago but not an
    unpredictable chain of events for a man who has no values other than his
    own sweet ass.

    If chameleon gets elected: more wars, escalation in Europe and elsewhere, WW3, few will survive.
    Let's go nuclear... ???

    Trump?
    cars? Import taxes on good cheap Chinese cars?
    So 'merricans have less to spend on food?
    'merrica only making bad products, also for military,
    F35 makes so much noise here (flying over every day) that
    I think the pilots must get hearing problems.
    No pilots .. that leaves drones...
    China has good ones...
    'merrica has become a self destructing joke.
    You cannot even get a burger at mac duck .. eeh Donalds without risk of dying from it.
    demorats trying to get every weard minority to vote for them.
    bo[i]ng airplanes...
    Europe should kick NATO out (just a US weapon sales club), make peace with Russia, concure all of 'N 'merrica,
    grab goods to compensate poor Europeans for the higher fuel prices
    after US blew up Northstream, return noisy F35 and ask money back (in Euros or gold)
    return Bo[i]ng airplaes and ask money back, money or goods or gold as YouAsh dollies are worth less than wallpaper.
    Bunch of genocse supporting criminals that use CIA to make wars everywhere including setting up
    the October 7 attacks on is-s-hell.
    And even criminals ile that STIL are making losses and increasing their debt. Lousy criminals they are too :-)!!!!

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)
  • From john larkin@21:1/5 to bitrex on Thu Oct 31 08:05:10 2024
    XPost: us.politics

    On Wed, 30 Oct 2024 17:33:36 -0400, bitrex <user@example.net> wrote:

    On 10/29/2024 11:57 AM, albert@spenarnc.xs4all.nl wrote:

    I dunno how Musk does it, but I somehow like his succcess

    Not many individuals can start successful car companies.

    Elon Musk doesn't fall in this category. He bought Tesla with
    inherited money from the successful founders, then he got rid of them.
    Knowledgeable people predict the bankruptcy of Tesla with 5 years,
    because there are no new cars developed, and an affordable hybrid
    is long overdue. Chinese manufacturers don't gamble their future
    with alone pure EV's. Cars are a mass market, and most people cannot
    buy the cheapest Tesla.

    Also he manages to run Twitter into the ground for as far a positive
    force.

    Groetjes Albert

    Anti-trans hysteria is a serious disease that is well-known for breaking
    the cognitive faculties of middle-aged people exposed to sufficient
    doses of it.

    Adolescence can be stressful, and it's usually best to provide
    psychologic support to kids until they get older and comfortable being
    whatever they will ultimately be. My two daughters, and my wife, were
    upset for a few years when their bodies changed. They are all happily
    female now. [1]

    Giving confused children hormones and mutilating surgery is a
    profitable medical fad. The UK is more rational than the US about
    that, probably because the profit incentives are different.

    That position is not hysteria.

    I've had two trans employees so far, both m to f. It seems to be a lot
    more common than it used to be. Some chemical in our food?

    [1] It's not as bad for guys. I was too busy being a geek to notice
    much.

    --- SoupGate-Win32 v1.05
    * Origin: fsxNet Usenet Gateway (21:1/5)