[ExI] Interesting statistic

[spike at rainier66.com]

From: extropy-chat <extropy-chat-bounces at lists.extropy.org> On Behalf Of William Flynn Wallace



 

>>…Have you any ideas on balancing the budget?  Do share please.

spike

 

>…Yes - forget about it.  Won't happen…

OK, what if it doesn’t?  What happens when China stops lending?

 

>…The only consolation I see is that point that John Clark made about when you borrow money you pay back dollars that are worth less than the money you have when you borrow it…

True sorta.  If a country starts inflating its currency, lending stops.  It is no longer profitable to loan money to that country.  So now we have a pile of new problems on top of trying to pay back loans with growing unemployment.  We are setting ourselves up for catastrophe.

 

>…One idea:  means-based Social Security…

This transition is a soft default.  As soon as it happens, voters persistently reduce all Social Security payments.  There’s a really good reason why this hasn’t already happened.

 

>…  Not likely a popular idea…

Roger that.

>…  Another - negotiate drug costs… bill w

Might help, but will likely be mostly irrelevant if the government isn’t buying much of it anymore.

However, our problems will likely be mountainous compared to the small pile of money to be saved with lower cost drugs.

I keep getting the feeling it will be way worse than we anticipated as soon as America starts to sober up.

spike

 

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