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From: Jeff Liebermann <jeffl@cruzio.com>
Newsgroups: rec.bicycles.tech
Subject: Re: People Without Meaningful Lives Seek Power Over Others
Date: Wed, 28 Aug 2024 09:00:08 -0700
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On Wed, 28 Aug 2024 10:23:13 -0500, AMuzi <am@yellowjersey.org> wrote:

>On 8/28/2024 8:23 AM, Catrike Ryder wrote:
>> The problem with socialism is that you eventually run out of other
>> peoples' money.
>> 
>> Margaret Thatcher
>
>The entire wealth of the nation is $152 trillion.
>US government bonds and obligations are $142 trillion, or 93%.
>
>That time will come. And soon.

The problem with this prediction of doom is that there seems to be
several ways to calculate national debt and GDP (gross domestic
product).  Here's one calculation that claims the US is well past the
point where paying our debts is possible:
<https://www.usdebtclock.org>

It's not just the US, but also that most other countries are
over-extended:
<https://www.usdebtclock.org/world-debt-clock.html>
Which country will be the first to go under and which ones will remain
afloat the longest?

More interesting is who does the US owe money?
<https://www.pgpf.org/blog/2024/08/the-federal-government-has-borrowed-trillions-but-who-owns-all-that-debt>
2/3 of the US national debt is held by the Federal Reserve.  Is the
Federal Reserve going to foreclose on debts owed to themselves?

-- 
Jeff Liebermann                 jeffl@cruzio.com
PO Box 272      http://www.LearnByDestroying.com
Ben Lomond CA 95005-0272
Skype: JeffLiebermann      AE6KS    831-336-2558