Path: ...!2.eu.feeder.erje.net!3.eu.feeder.erje.net!feeder.erje.net!weretis.net!feeder8.news.weretis.net!reader5.news.weretis.net!news.solani.org!.POSTED!not-for-mail
From: Jan Panteltje <alien@comet.invalid>
Newsgroups: sci.electronics.design,us.politics
Subject: Re: OT: America could go bankrupt : Musk
Date: Fri, 25 Oct 2024 08:15:18 GMT
Message-ID: <vffk2n$1ca7p$1@solani.org>
References: <vff719$1c300$1@solani.org> <vff7lq$30vnv$4@dont-email.me> <671b2a78$2$1428050$882e4bbb@reader.netnews.com>
MIME-Version: 1.0
Content-Type: text/plain; ISO-8859-15
Content-Transfer-Encoding: 8bit
Injection-Date: Fri, 25 Oct 2024 08:15:19 -0000 (UTC)
Injection-Info: solani.org;
	logging-data="1452281"; mail-complaints-to="abuse@news.solani.org"
User-Agent: NewsFleX-1.5.7.5 (Linux-5.15.32-v7l+)
Cancel-Lock: sha1:EqOLo35uTAi5Gr44uGGBDSe1n/Y=
X-User-ID: eJwFwQkBACAIBLBKIn8cDqF/BDdlI2sXUxNdXepw2bpKvtX+KM6rSoAz2jRnRgaHz0jgSgwXkLmDIMi1D2h6Fik=
X-Newsreader-location: NewsFleX-1.5.7.5 (c) 'LIGHTSPEED' off line news reader for the Linux platform
 NewsFleX homepage: http://www.panteltje.nl/panteltje/newsflex/ and ftp download ftp://sunsite.unc.edu/pub/linux/system/news/readers/ 
Bytes: 3467
Lines: 43

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 ...