[ExI] US ‘failed miserably’ in wargame reportedly against China attack on Taiwan

[spike at rainier66.com]

From: extropy-chat <extropy-chat-bounces at lists.extropy.org> On Behalf Of William Flynn Wallace via extropy-chat
Sent: Friday, August 6, 2021 10:53 AM
To: ExI chat list <extropy-chat at lists.extropy.org>
Cc: William Flynn Wallace <foozler83 at gmail.com>
Subject: Re: [ExI] US ‘failed miserably’ in wargame reportedly against China attack on Taiwan

 

>>…But we aren’t having desperate war bond drives now.

>>…BillW, what changed please?

spike

>…How do you get people interested in over 20 trillion dollars of debt?  A war they can understand.  People are dying.  The enemy is winning.The debt has no urgency about it.  Thus the one word answer to you is:  complacency.  Part of that is living for the moment.  How many of us have adequate retirement money?  Small number, I think.  That future is just too far off for people to imagine.  So in the end, it's a failure of imagination.  AGree?

bill w

Disagree at least partially.  Back in the old days, the federal government debt limit was taken seriously.  Now it is not.  It is now treated as a political football or an inconvenience or a legal relic of times past, rather than what it was designed to do: pressure the Fed to balance its damn books, as it must do, as state governments must do, as you and I must do.

OK.  So.  That failed, catastrophically.  To me that is a plain admission that the US Fed will not honor its military commitments and will eventually default on its debts as well, both domestic and foreign.  It doesn’t move me a bit to argue that it has never done this before, so it never will.  It is perfectly clear to me that it will not honor those commitments because it cannot.

spike 

 

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