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:
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.
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.
Milton Keynes 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:
On 25/10/2024 06:20, bitrex wrote:
<snip>
Milton Keynes wrote:
:-)
On 25/10/2024 06:20, bitrex wrote:
<snip>
Milton Keynes 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
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.
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.
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/>
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 ...
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.
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
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
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.
On 10/25/2024 4:15 AM, Jan Panteltje wrote:data-trump-court/>
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-
Now people give it away for free! Really the most helpful fashion of
citizen
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
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
On Sat, 26 Oct 2024 06:34:34 GMT, Jan Panteltje <alien@comet.invalid>to
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 â 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 â 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 doesnât 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.
âWe 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 âif 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.â?
âThe 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 âour 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 âthe only thing weâll be able
Some of her notes were perfect sine waves on an oscilloscope, the onlypay is interest.â?
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
ones I've seen.
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>:Some of her notes were perfect sine waves on an oscilloscope, the only
On Fri, 25 Oct 2024 04:32:40 GMT, Jan Panteltje <alien@comet.invalid> >>>>wrote:
America could go bankrupt â 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 â 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 doesnât 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.
âWe 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 âif 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.â?
âThe 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 âour 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 âthe only thing weâll be able >to
pay is interest.â?
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
ones I've seen.
Patsy was way better.
https://www.youtube.com/watch?v=owNATIdymvs
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:
A most awful, depressing place. How long ago were you there?
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?
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:
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.
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
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.
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.
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