Oddbean new post about login | logout How fucked we are, in a single image. Most people still don't get it. https://image.nostr.build/9b6c0cd4a51928f1b9665235fcb82e078bc9926b74aaab6045feb439debaca40.jpg
few
Not we , but the bureaucrats and the politicians. It’s good for us if all of this implodes
It's problematic because nearly all of us are exposed to this debt in some way or another. Banks hold it. Pension funds hold it. The social security trust fund holds it. When you hear that they 'borrowed' from social security, what they did was swap dollars for bonds on the books. Under normal sane circumstances this would have been a prudent move because the bonds earn interest. The problem is when it becomes apparent that the US government can no longer make good on its debt obligation and so these bonds become worthless paper that nobody wants to be holding. This system works in small doses. But they fucked up. They went way too far. It's already too big of a problem to fix. The rest is only a matter of time now. Everyone is exposed to these bonds so it's going to break everything for a while. We're at a point where the annual interest is almost a trillion dollars a year. The total personal wealth of all US billionaires is roughly 4.5 trillion. So if you confiscated 100% of the wealth of all US billionaires you could afford to pay just the interest for about 4.5 years and that's assuming it doesn't get any bigger. This is going to get rough. Your great grandkids will ask you about this time. Buckle up buttercup.
Bitcoiners have been waiting for this their whole lives. The state must be abolished and that can only happen through this manner.
If you are including a social security stipend in your retirement planning, you should rethink
That's what I keep telling my dad.
We’ve been waiting for this our whole lives , this is how we cripple the state and it’s tyranny. It’s good for the people.
Yes, but some of us will ride out what's coming better than those not paying attention. You'll want Bitcoin, and probably metal just in case. https://image.nostr.build/86ee817cf921549ee248ad5844c3efef375f652c4a8aed61d6cb79b47abc1130.jpg
Bitcoin is the only peaceful solution out of this crisis.
An idea that came to us just in time. It needed to build strength this past 15 years to prepare for the time that it will be needed.
Definitely agreed . 👍🙌👍
I am becoming increasingly concerned that they are never going to stop printing money. $275B in 25 hours. Congress asking for another $650B print. $2.5T in treasuries maturing next year. $180T in unfunded liabilities.
Wild.
MMT guys would explain to you that it's a good thing. fortunately they are not around here
But the value of those nominal dollars has already been inflated away. A more accurate, but still pretty bad, picture is this: https://image.nostr.build/ae82d841af1cfc156ca036091ed1af158bea70b99525928f0edd0e61c8f8dab1.jpg
But my MMT professor said "dEbT dOeSn'T mAtTeR." "Crazy man. Hey'd you see that game?" -normies
And they never will.
https://youtu.be/tMDFv5m18Pw?si=6MRHQIAo6yr7U32l nostr:nevent1qqs8uwre89wqmq43yege7t7l3erd0qqxvwhxn9fuspgwud8usm8rlmqpz3mhxue69uhhyetvv9ujuerpd46hxtnfdupzqrgxfq9scm3mu0y6rfja0e4uyzgjyl24hax80m4kqda6wamvxq8vqvzqqqqqqymhsyyk
But Football is on and the new Barbie movie is playing! 😂
nostr:nevent1qqs8uwre89wqmq43yege7t7l3erd0qqxvwhxn9fuspgwud8usm8rlmqpz3mhxue69uhhyetvv9ujuerpd46hxtnfdupzqrgxfq9scm3mu0y6rfja0e4uyzgjyl24hax80m4kqda6wamvxq8vqvzqqqqqqymhsyyk
