2011
https://video.twimg.com/amplify_video/1660075840238157824/vid/888x482/Z8Y-7mZ8l2JlaSwd.mp4?tag=14
Discussion
The only way out of debt for the US is hyperinflation. It’s going to be a bloodbath.
not the ONLY way... there are many catastropic paths...
Default isn’t an option bc brrrr
The US populace will never tolerate austerity and it would never be enough to pay off the debt
Hyperinflation is the only real way for the US to relieve their debt burden. They are just trying to do it in a slow / controlled way.
Innovation is another way. AI to the rescue.
AI could add to GDP but it could also create problems. It’s an unknown. And i see no way AI could ever service trillions in public debt.
It can significantly reduce the costs of all goods and services, moving a large amount of workers into blue collar work, which allows a huge increase in production.
Basically it works because with such huge debt, we all still work a 40 hour week. Monetary inflation eats up all the innovative deflation. Without the debt, we would all get to work less.
Groundhog day
I remember feeling so powerless back then.
It took me nearly a decade too find bitcoin & shed the nialism 😔
Ní déanach í an mhaith aon uair.
Coulda been getting ahead all these years 🤦♂️
nostr:npub1gcxzte5zlkncx26j68ez60fzkvtkm9e0vrwdcvsjakxf9mu9qewqlfnj5z I noticed my phone cut to it's lock screen in the middle of watching this video so it seems the app isn't doing something to prevent that for videos of a long enough duration. Pressed play after unlocking and needed to unmute again. 🤔
Whi is that guy?
That's Ron Paul. He spoke at the Bitcoin conference a couple years ago. His 2009 book End the Fed is how I learned about a Austrian economics
he says all the right things... a closet Bitcoiner?
Although he says many right things he still doesn't understand the debt ceiling being raised.
When money = debt, reducing debt merely removes "currency" from your total supply.
He ALMOST gets it however...
If without a doubt the truth has come to light with the rights of time