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From: AMuzi <am@yellowjersey.org>
Newsgroups: rec.bicycles.tech
Subject: Re: People Without Meaningful Lives Seek Power Over Others
Date: Wed, 28 Aug 2024 11:08:53 -0500
Organization: Yellow Jersey, Ltd.
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On 8/28/2024 11:00 AM, Jeff Liebermann wrote:
> On Wed, 28 Aug 2024 10:23:13 -0500, AMuzi <am@yellowjersey.org> wrote:
> 
>> On 8/28/2024 8:23 AM, Catrike Ryder wrote:
>>> The problem with socialism is that you eventually run out of other
>>> peoples' money.
>>>
>>> Margaret Thatcher
>>
>> The entire wealth of the nation is $152 trillion.
>> US government bonds and obligations are $142 trillion, or 93%.
>>
>> That time will come. And soon.
> 
> The problem with this prediction of doom is that there seems to be
> several ways to calculate national debt and GDP (gross domestic
> product).  Here's one calculation that claims the US is well past the
> point where paying our debts is possible:
> <https://www.usdebtclock.org>
> 
> It's not just the US, but also that most other countries are
> over-extended:
> <https://www.usdebtclock.org/world-debt-clock.html>
> Which country will be the first to go under and which ones will remain
> afloat the longest?
> 
> More interesting is who does the US owe money?
> <https://www.pgpf.org/blog/2024/08/the-federal-government-has-borrowed-trillions-but-who-owns-all-that-debt>
> 2/3 of the US national debt is held by the Federal Reserve.  Is the
> Federal Reserve going to foreclose on debts owed to themselves?
> 
> 

I'm with Herb Stein, "Anything unsustainable will stop".

How and when is why we have news reports for entertainment.
-- 
Andrew Muzi
am@yellowjersey.org
Open every day since 1 April, 1971