[ExI] Warren Buffett is worried too and thinks Republicans are "asinine"

[Mirco Romanato]

Il 21/10/2013 11:18, Omar Rahman ha scritto:

> If, and I'll admit it's a big IF, you accept the notion that countries
> are 'mostly analog AIs', how would you rate the US on the 'friendly'
> scale? Psychotic? Delusional?

Amoral, in large part.
As they always were and are.

> About debt Kelly, the graph you presented shows pretty clearly that in
> recent times Reagan and Bush the 2nd are right at the elbows where the
> debt to gdp ratio turned for the worse. Almost every president has
> raised spending in dollar amounts, but when you couple that with tax
> cuts you get exactly the debt explosion that you would expect rather
> than the 'golden shower' of the trickle down economics we were promised.
> Why? The billionaires are buying more industrial plant and marching
> forward to the singularity alone.

The problem in this reasoning is to impute to the POTUSes the
responsibility of deficit spending.
Is the legislative branch totally innocent?
And the Judiciary Branch?

After you delve enough in economics of the Austrian Schools you find out
the entire welfare state thing + fiat money thing + democracy thing had
no and have no other route to travel. The drivers, at best, can only
change the speed.

He US defaulted in 1972, when Nixon suspended temporarily the
convertibility of the US$ in gold. They will now default on their
obligation in fiat currency or they will print their currency in
oblivion, like will happen for the £, €, Yen, Yuan and many other fiats.

The default would be better for the people, but they will hyper-inflate
because it is better for them (and they will blame the higher prices to
the "evil capitalists" and/or some other "evil groups".

In between, Bitcoin hit 210$ today.

The free market alternative to government fiat.
It will rein government spending, entitlements, wars, corruption and
brainwashing of younger generations. It will take the power of the
printing presses away from the governments. The power to stealthy stealing.

It will do democracy a lot less interesting, also.
Because if you can not vote to rob you neighbors, where is the fun?

Mirco