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From: Cursitor Doom <cd999666@notformail.com>
Newsgroups: sci.electronics.design,us.politics
Subject: Re: OT: America could go bankrupt : Musk
Date: Sun, 27 Oct 2024 08:39:27 -0000 (UTC)
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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.