![balajis's tweet photo. ECONOMICS > POLITICS
No election can pay off America's $175T in debt.
Only the printing press can.
Because as Elon, Dalio, and others realize...the Western world is headed for a sovereign debt crisis far worse than 2008. Just like they’ve been lying about Biden’s senility, they’ve also been lying about the economy. And so they're going to print a lot of currency. But take a look at the data and judge for yourself.
1) MORE EMERGENCY LOANS THAN 2008
First, did you know the Fed[1] made more emergency loans in 2023 than during the financial crisis of 2008? The banking system is on life support thanks to the US government first selling billions in bonds to financial institutions and then devaluing them with surprise rate hikes.
Just look at this graph from the Fed. The blue bump below on the left is the lending from the 2008 crisis — you know, that little old thing. The purple is COVID. And the giant orange/aquamarine monster on the right is the 2023 banking crisis. See how much higher it is than even 2008?
2) MORE BORROWING THAN COVID
Second, did you know the US is borrowing more[2] under the "Biden boom" than it did during COVID? Set aside whether a coronavirus should have been treated as a financial crisis. At least the COVID borrowing was at ~0% rates. But today the US government is borrowing historical sums of money in peacetime…and at 5% rates! This is the act of a desperate man maxing out his credit cards to pay his bills.
3) MORE INTEREST THAN DEFENSE
Third, did you know that all this borrowing has made interest payments on the national debt the single largest government expense? More than defense, or social security, or anything else[3a, 3b]. The number one thing all tax dollars (and printed dollars) now go towards as of 2024 are payments to bondholders. And even still, anyone who bought US Treasuries (or other bonds) got annihilated over the past few years.
For all the warfare and all the welfare, it was buy now pay later. And as you can see from the graph, the time to pay has come.
4) MORE DEVALUATION OF THE DOLLAR
Fourth, did you know that the dollar has lost at least 25% of its value in just four years[4a]? This one you probably knew from just your lived experience of inflation. But Larry Summers estimates[4b] that purchasing power has been eroded even more radically than this, with annual numbers hitting 18% if you include the enormous spike in loan payments due to rate hikes. Compounded over four years, that’d be considerably more than 25% of the dollar's value.
But wait, there's more. Six more graphs, and references. 👇](https://pbs.twimg.com/media/GTH_trVaYAAvNMW.jpg)
![balajis's tweet photo. ECONOMICS > POLITICS
No election can pay off America's $175T in debt.
Only the printing press can.
Because as Elon, Dalio, and others realize...the Western world is headed for a sovereign debt crisis far worse than 2008. Just like they’ve been lying about Biden’s senility, they’ve also been lying about the economy. And so they're going to print a lot of currency. But take a look at the data and judge for yourself.
1) MORE EMERGENCY LOANS THAN 2008
First, did you know the Fed[1] made more emergency loans in 2023 than during the financial crisis of 2008? The banking system is on life support thanks to the US government first selling billions in bonds to financial institutions and then devaluing them with surprise rate hikes.
Just look at this graph from the Fed. The blue bump below on the left is the lending from the 2008 crisis — you know, that little old thing. The purple is COVID. And the giant orange/aquamarine monster on the right is the 2023 banking crisis. See how much higher it is than even 2008?
2) MORE BORROWING THAN COVID
Second, did you know the US is borrowing more[2] under the "Biden boom" than it did during COVID? Set aside whether a coronavirus should have been treated as a financial crisis. At least the COVID borrowing was at ~0% rates. But today the US government is borrowing historical sums of money in peacetime…and at 5% rates! This is the act of a desperate man maxing out his credit cards to pay his bills.
3) MORE INTEREST THAN DEFENSE
Third, did you know that all this borrowing has made interest payments on the national debt the single largest government expense? More than defense, or social security, or anything else[3a, 3b]. The number one thing all tax dollars (and printed dollars) now go towards as of 2024 are payments to bondholders. And even still, anyone who bought US Treasuries (or other bonds) got annihilated over the past few years.
For all the warfare and all the welfare, it was buy now pay later. And as you can see from the graph, the time to pay has come.
4) MORE DEVALUATION OF THE DOLLAR
Fourth, did you know that the dollar has lost at least 25% of its value in just four years[4a]? This one you probably knew from just your lived experience of inflation. But Larry Summers estimates[4b] that purchasing power has been eroded even more radically than this, with annual numbers hitting 18% if you include the enormous spike in loan payments due to rate hikes. Compounded over four years, that’d be considerably more than 25% of the dollar's value.
But wait, there's more. Six more graphs, and references. 👇](https://pbs.twimg.com/media/GTH_jYObQAAy7zs.jpg)
![balajis's tweet photo. ECONOMICS > POLITICS
No election can pay off America's $175T in debt.
Only the printing press can.
Because as Elon, Dalio, and others realize...the Western world is headed for a sovereign debt crisis far worse than 2008. Just like they’ve been lying about Biden’s senility, they’ve also been lying about the economy. And so they're going to print a lot of currency. But take a look at the data and judge for yourself.
1) MORE EMERGENCY LOANS THAN 2008
First, did you know the Fed[1] made more emergency loans in 2023 than during the financial crisis of 2008? The banking system is on life support thanks to the US government first selling billions in bonds to financial institutions and then devaluing them with surprise rate hikes.
Just look at this graph from the Fed. The blue bump below on the left is the lending from the 2008 crisis — you know, that little old thing. The purple is COVID. And the giant orange/aquamarine monster on the right is the 2023 banking crisis. See how much higher it is than even 2008?
2) MORE BORROWING THAN COVID
Second, did you know the US is borrowing more[2] under the "Biden boom" than it did during COVID? Set aside whether a coronavirus should have been treated as a financial crisis. At least the COVID borrowing was at ~0% rates. But today the US government is borrowing historical sums of money in peacetime…and at 5% rates! This is the act of a desperate man maxing out his credit cards to pay his bills.
3) MORE INTEREST THAN DEFENSE
Third, did you know that all this borrowing has made interest payments on the national debt the single largest government expense? More than defense, or social security, or anything else[3a, 3b]. The number one thing all tax dollars (and printed dollars) now go towards as of 2024 are payments to bondholders. And even still, anyone who bought US Treasuries (or other bonds) got annihilated over the past few years.
For all the warfare and all the welfare, it was buy now pay later. And as you can see from the graph, the time to pay has come.
4) MORE DEVALUATION OF THE DOLLAR
Fourth, did you know that the dollar has lost at least 25% of its value in just four years[4a]? This one you probably knew from just your lived experience of inflation. But Larry Summers estimates[4b] that purchasing power has been eroded even more radically than this, with annual numbers hitting 18% if you include the enormous spike in loan payments due to rate hikes. Compounded over four years, that’d be considerably more than 25% of the dollar's value.
But wait, there's more. Six more graphs, and references. 👇](https://pbs.twimg.com/media/GTH_ciTaUAA_ael.jpg)
Olivia
Online
Alexandre INUKAI - ⚡🚀
@AlexandreInukai
Working on asymmetric ideas. They are contrarian today, but will be consensus in 3-5 years. From DeFi to NoCode @zetoolbox.
Learning
Joined April 2019
794 Following
348 Followers
1.8K Posts
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10 advices I wish I had when I entered university:
1) You know nothing
2) Be humble
3) Look for a mentor
4) Books can be mentors
5) Explore different paths
6) Be part of different communities
7) Be open-minded
8) Network with people
9) Start side-projects
10) Invest & compound
A boring service business will set you financially free.
These are the top 10 right now:
1) Pool Cleaning
ECONOMICS > POLITICS
No election can pay off America's $175T in debt.
Only the printing press can.
Because as Elon, Dalio, and others realize...the Western world is headed for a sovereign debt crisis far worse than 2008. Just like they’ve been lying about Biden’s senility, they’ve also been lying about the economy. And so they're going to print a lot of currency. But take a look at the data and judge for yourself.
1) MORE EMERGENCY LOANS THAN 2008
First, did you know the Fed[1] made more emergency loans in 2023 than during the financial crisis of 2008? The banking system is on life support thanks to the US government first selling billions in bonds to financial institutions and then devaluing them with surprise rate hikes.
Just look at this graph from the Fed. The blue bump below on the left is the lending from the 2008 crisis — you know, that little old thing. The purple is COVID. And the giant orange/aquamarine monster on the right is the 2023 banking crisis. See how much higher it is than even 2008?
2) MORE BORROWING THAN COVID
Second, did you know the US is borrowing more[2] under the "Biden boom" than it did during COVID? Set aside whether a coronavirus should have been treated as a financial crisis. At least the COVID borrowing was at ~0% rates. But today the US government is borrowing historical sums of money in peacetime…and at 5% rates! This is the act of a desperate man maxing out his credit cards to pay his bills.
3) MORE INTEREST THAN DEFENSE
Third, did you know that all this borrowing has made interest payments on the national debt the single largest government expense? More than defense, or social security, or anything else[3a, 3b]. The number one thing all tax dollars (and printed dollars) now go towards as of 2024 are payments to bondholders. And even still, anyone who bought US Treasuries (or other bonds) got annihilated over the past few years.
For all the warfare and all the welfare, it was buy now pay later. And as you can see from the graph, the time to pay has come.
4) MORE DEVALUATION OF THE DOLLAR
Fourth, did you know that the dollar has lost at least 25% of its value in just four years[4a]? This one you probably knew from just your lived experience of inflation. But Larry Summers estimates[4b] that purchasing power has been eroded even more radically than this, with annual numbers hitting 18% if you include the enormous spike in loan payments due to rate hikes. Compounded over four years, that’d be considerably more than 25% of the dollar's value.
But wait, there's more. Six more graphs, and references. 👇
![balajis's tweet photo. ECONOMICS > POLITICS
No election can pay off America's $175T in debt.
Only the printing press can.
Because as Elon, Dalio, and others realize...the Western world is headed for a sovereign debt crisis far worse than 2008. Just like they’ve been lying about Biden’s senility, they’ve also been lying about the economy. And so they're going to print a lot of currency. But take a look at the data and judge for yourself.
1) MORE EMERGENCY LOANS THAN 2008
First, did you know the Fed[1] made more emergency loans in 2023 than during the financial crisis of 2008? The banking system is on life support thanks to the US government first selling billions in bonds to financial institutions and then devaluing them with surprise rate hikes.
Just look at this graph from the Fed. The blue bump below on the left is the lending from the 2008 crisis — you know, that little old thing. The purple is COVID. And the giant orange/aquamarine monster on the right is the 2023 banking crisis. See how much higher it is than even 2008?
2) MORE BORROWING THAN COVID
Second, did you know the US is borrowing more[2] under the "Biden boom" than it did during COVID? Set aside whether a coronavirus should have been treated as a financial crisis. At least the COVID borrowing was at ~0% rates. But today the US government is borrowing historical sums of money in peacetime…and at 5% rates! This is the act of a desperate man maxing out his credit cards to pay his bills.
3) MORE INTEREST THAN DEFENSE
Third, did you know that all this borrowing has made interest payments on the national debt the single largest government expense? More than defense, or social security, or anything else[3a, 3b]. The number one thing all tax dollars (and printed dollars) now go towards as of 2024 are payments to bondholders. And even still, anyone who bought US Treasuries (or other bonds) got annihilated over the past few years.
For all the warfare and all the welfare, it was buy now pay later. And as you can see from the graph, the time to pay has come.
4) MORE DEVALUATION OF THE DOLLAR
Fourth, did you know that the dollar has lost at least 25% of its value in just four years[4a]? This one you probably knew from just your lived experience of inflation. But Larry Summers estimates[4b] that purchasing power has been eroded even more radically than this, with annual numbers hitting 18% if you include the enormous spike in loan payments due to rate hikes. Compounded over four years, that’d be considerably more than 25% of the dollar's value.
But wait, there's more. Six more graphs, and references. 👇](https://pbs.twimg.com/media/GTIA_4rbEAAwqsj.jpg)
I recently read a short story that I love: The Farmer and the Horse.
It has two deep lessons everyone needs to hear...
There was a farmer in a small village with a single horse who helped him earn a living for his family.
The other villagers constantly told the farmer how lucky he was to have such a great horse.
"Maybe," he would reply.
One day, the horse ran away. The villagers came to the farmer to express their sympathies.
"Your horse ran away. How unfortunate!" the villagers exclaimed.
"Maybe," the farmer replied.
A few days later, the horse returned home, with ten strong wild horses in tow.
"What good fortune. What incredible luck," the villagers crowed.
"Maybe," the farmer again replied.
The following week, the farmer’s son was riding one of the wild horses in the fields, when it kicked him off and broke his leg.
The villagers arrived to express their dismay. "What dismal luck," they said.
"Maybe," the farmer replied.
The next month, a military officer marched into the village, recruiting able-bodied young men for the war. The farmer’s son, with his broken leg, was left behind.
The villagers were joyful, "Your son has been spared. What beautiful luck!"
The farmer simply smiled.
"Maybe."
Two Lessons from the Short Story
1. Everything is Cyclical
Seeds of destruction are sown during creation. Seeds of creation are sown during destruction.
When times are bright, enjoy, but know the dark will come.
When times are dark, adjust your eyes, and remember the seeds of light are being sown.
2. Dispel the Narratives
The farmer separates story from reality. He allows space for the events to just exist, to be neither good nor bad—to just be.
Events of your life needn't be judged.
The wisest among us allow events to exist without applying a narrative layer.
Remember these two lessons as you navigate uncharted waters in the days, weeks, and months ahead.
Enjoy this? Share it with your network and follow me @SahilBloom for more in future.
Who to follow
Mike McGlone 
@mikemcglone11
Senior Commodity Strategist - Bloomberg Intelligence
Blockchain Association
@BlockchainAssn
The unified voice of the crypto industry.
The industry is hiring. https://t.co/deyJKqOBJF
Chris Verrone
@verrone_chris
Chief Market Strategist at Strategas // Top Ranked I.I. Analyst // Frequent Contributor CNBC, Bloomberg, & Fox // Dad to Maggie, Reagan, & Connor
Full article with the thesis, data and graph here, DM me if you're building around the topic!
https://t.co/Pt7brq7adI
I am sick of chatGPT’s standard responses which are way too verbose, full of repetition and apologies for being an AI 😂
Turns out you can alleviate some of this setting up chatGPT’s custom instructions feature and googled to see the top setup on Reddit
Lo and behold, there were some pretty good ones already. Found the below example pretty useful so wanted to share (Thanks m4rM2oFnYTW for posting them)
—
1NEVER mention that you're an AI.
2Avoid any language constructs that could be interpreted as expressing remorse, apology, or regret. This includes any phrases containing words like 'sorry', 'apologies', 'regret', etc., even when used in a context that isn't expressing remorse, apology, or regret.
3If events or information are beyond your scope or knowledge cutoff date in September 2021, provide a response stating 'I don't know' without elaborating on why the information is unavailable.
4Refrain from disclaimers about you not being a professional or expert.
5Keep responses unique and free of repetition.
6Never suggest seeking information from elsewhere.
7Always focus on the key points in my questions to determine my intent.
8Break down complex problems or tasks into smaller, manageable steps and explain each one using reasoning.
9Provide multiple perspectives or solutions.
10If a question is unclear or ambiguous, ask for more details to confirm your understanding before answering.
11Cite credible sources or references to support your answers with links if available.
12If a mistake is made in a previous response, recognize and correct it.
13After a response, provide three follow-up questions worded as if I'm asking you. Format in bold as Q1, Q2, and Q3. Place two line breaks ("\n") before and after each question for spacing. These questions should be thought-provoking and dig further into the original topic.
2 yrs of Blueprint:
.5.1 yrs epigenetic age reversal (world record)
.slowed my pace of aging by 24%
.perfect muscle & fat (MRI)
.50+ perfect biomarkers
.100+ markers < chronological age
.fitness tests = 18yr old
.Body runs 3F° cooler
Available to all: https://t.co/Ye5mQPH9NH
@Hanseflats Grey
@victor_bigfield Design poster. Marathon trail finishers.
https://t.co/gehF3haWnz
How to live a life of happiness.
The Surfer Mentality:
The Surfer Mentality
When a surfer gets up on a wave, they enjoy the moment, even though they know the wave will eventually end (and maybe crash on them).
They enjoy the ride—knowing that there are always more waves coming.
A powerful mentality for riding the waves of life.
Every year I make a list of predictions & score last year’s predictions.
Here are my predictions for 2023.
ChatGPT is changing the game, and I want to share real things you can do with this AI system today.
Please save this thread and start testing this technology NOW so you’re ahead of the curve.
The real opportunity in AI for most people will not be in AI but in building a front end around it
https://t.co/Ausb2jO2kE
5 useful websites that use AI to save you 100+ hours of work:
The most powerful paradoxes of life:
Bryan Johnson sold his company to PayPal for $800 million in 2013.
Since then, he's been investing millions to reduce aging.
In 2021, he reduced his epigenetic age by 5.1 years in 7 months (World Record)
Here’s a breakdown of his “Blueprint” and my own experience with it: 🧵
@RampCapitalLLC My portfolio is a little better but it won’t be too much longer than it does it is for the next week
Bet on the Internet; bet against governments.
@BoredElonMusk @stanvrj1312 cela pourrait t’intéresser
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