[ExI] Johnson has ANOTHER "Aleppo moment"!
spike66 at att.net
Fri Sep 30 02:31:21 UTC 2016
From: extropy-chat [mailto:extropy-chat-bounces at lists.extropy.org] On Behalf Of John Clark
>…If the government is ever going to borrow money, as its been doing nearly every year since 1835, then now is certainly the time to do it when interest rates are almost zero...John K Clark
What happens when interest rates go back up? Who loses when the inevitable default happens?
There is something we as optimistic future-thinkers really fail to admit: the future holds fewer jobs. Control theory is advancing to the point where all our robot dreams will happen. The obvious one is the self-driving cars and trucks, but near me is an experimental farm being set up to do completely automated labor. What then? What happens when we have fewer and fewer workers to pay the bills? We borrowed when half of us were earning wages. In the future a quarter of us will be struggling to pay off the debt, and they will fail. Then what?
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