![balajis's tweet photo. ALL IT TAKES IS ALL YOU GOT
Wow, I love this so much.
First, the debt didn't matter.
Now, it still doesn't matter...
Because the state can take all your assets to pay it!
Here's the graph Brent cites:
Below is that same graph with titles and labels[1]. See how it says balance sheet of households and nonprofit organizations? So that $177T number isn't really about government assets. It's just everything every American household (and nonprofit, hedge fund, PE fund, and personal trust) owns[2].
And now we're getting down to brass tacks.
See, Keynesianism is like Communism in that it sees no real difference between household and government assets. There is no moral limit on how much they can take from the population via inflation and seizure, only practical limits. So, your household assets can and will be taken to pay for what this failed state owes.
And how much does it owe? Well for that we can go to a recent analysis[3] of the Feb 2024 Financial Report of the United States Government[4].
Here's the table where the US government itself admits that even $37T is an underestimate of the debt. When you include the "social insurance" of Social Security and Medicare it's another $78.4T line item.
But wait, there's more!
Later in the doc Treasury itself admits even *this* is a sharp underestimate of what the US owes in terms of Social Security and Medicare because it's not accounting for future payouts decades from now. Once it does, what does the number get to? Here's the direct quote from them:
"The total...sums to **$175.3 trillion** in PV terms. This need can be satisfied only through increased borrowing, higher taxes, reduced program spending, or some combination."
That $175.3T lines up with the ~$200T number that Druckenmiller[5] has been using for the all-in liabilities of the US government when you take everything into account. And of course, at this point we are in monopoly money territory, because:
a) The entire fedguv only collected $1.86T last year[6]
b) That number is itself juiced by deficit spending
c) The dollar is down ~25% in real terms since 2020[7]
d) And the "177T" in asset value plummets if liquidated
e) ...or if there is a financial crisis, or both
So: no, the US government doesn't have nearly enough to pay for what it owes. It's made promises to everyone, from allies to retirees, that it simply can't keep. To hang on to power amidst that web of broken obligations, it is going to get nasty on a level beyond which most can really comprehend.
I appreciate, however, that we are starting to glimpse the endgame. When a bankrupt state collapses, it's like a black hole. It sucks everything it can into its gaping maw. Everything it can possibly seize, will be seized. Everything it can possibly print, will be printed.
All your assets become its assets.
All it takes...is all you got.](https://pbs.twimg.com/media/GJx7nDdakAEbTfo.jpg)
![balajis's tweet photo. ALL IT TAKES IS ALL YOU GOT
Wow, I love this so much.
First, the debt didn't matter.
Now, it still doesn't matter...
Because the state can take all your assets to pay it!
Here's the graph Brent cites:
Below is that same graph with titles and labels[1]. See how it says balance sheet of households and nonprofit organizations? So that $177T number isn't really about government assets. It's just everything every American household (and nonprofit, hedge fund, PE fund, and personal trust) owns[2].
And now we're getting down to brass tacks.
See, Keynesianism is like Communism in that it sees no real difference between household and government assets. There is no moral limit on how much they can take from the population via inflation and seizure, only practical limits. So, your household assets can and will be taken to pay for what this failed state owes.
And how much does it owe? Well for that we can go to a recent analysis[3] of the Feb 2024 Financial Report of the United States Government[4].
Here's the table where the US government itself admits that even $37T is an underestimate of the debt. When you include the "social insurance" of Social Security and Medicare it's another $78.4T line item.
But wait, there's more!
Later in the doc Treasury itself admits even *this* is a sharp underestimate of what the US owes in terms of Social Security and Medicare because it's not accounting for future payouts decades from now. Once it does, what does the number get to? Here's the direct quote from them:
"The total...sums to **$175.3 trillion** in PV terms. This need can be satisfied only through increased borrowing, higher taxes, reduced program spending, or some combination."
That $175.3T lines up with the ~$200T number that Druckenmiller[5] has been using for the all-in liabilities of the US government when you take everything into account. And of course, at this point we are in monopoly money territory, because:
a) The entire fedguv only collected $1.86T last year[6]
b) That number is itself juiced by deficit spending
c) The dollar is down ~25% in real terms since 2020[7]
d) And the "177T" in asset value plummets if liquidated
e) ...or if there is a financial crisis, or both
So: no, the US government doesn't have nearly enough to pay for what it owes. It's made promises to everyone, from allies to retirees, that it simply can't keep. To hang on to power amidst that web of broken obligations, it is going to get nasty on a level beyond which most can really comprehend.
I appreciate, however, that we are starting to glimpse the endgame. When a bankrupt state collapses, it's like a black hole. It sucks everything it can into its gaping maw. Everything it can possibly seize, will be seized. Everything it can possibly print, will be printed.
All your assets become its assets.
All it takes...is all you got.](https://pbs.twimg.com/media/GJx54doakAEmYXM.png)
![balajis's tweet photo. ALL IT TAKES IS ALL YOU GOT
Wow, I love this so much.
First, the debt didn't matter.
Now, it still doesn't matter...
Because the state can take all your assets to pay it!
Here's the graph Brent cites:
Below is that same graph with titles and labels[1]. See how it says balance sheet of households and nonprofit organizations? So that $177T number isn't really about government assets. It's just everything every American household (and nonprofit, hedge fund, PE fund, and personal trust) owns[2].
And now we're getting down to brass tacks.
See, Keynesianism is like Communism in that it sees no real difference between household and government assets. There is no moral limit on how much they can take from the population via inflation and seizure, only practical limits. So, your household assets can and will be taken to pay for what this failed state owes.
And how much does it owe? Well for that we can go to a recent analysis[3] of the Feb 2024 Financial Report of the United States Government[4].
Here's the table where the US government itself admits that even $37T is an underestimate of the debt. When you include the "social insurance" of Social Security and Medicare it's another $78.4T line item.
But wait, there's more!
Later in the doc Treasury itself admits even *this* is a sharp underestimate of what the US owes in terms of Social Security and Medicare because it's not accounting for future payouts decades from now. Once it does, what does the number get to? Here's the direct quote from them:
"The total...sums to **$175.3 trillion** in PV terms. This need can be satisfied only through increased borrowing, higher taxes, reduced program spending, or some combination."
That $175.3T lines up with the ~$200T number that Druckenmiller[5] has been using for the all-in liabilities of the US government when you take everything into account. And of course, at this point we are in monopoly money territory, because:
a) The entire fedguv only collected $1.86T last year[6]
b) That number is itself juiced by deficit spending
c) The dollar is down ~25% in real terms since 2020[7]
d) And the "177T" in asset value plummets if liquidated
e) ...or if there is a financial crisis, or both
So: no, the US government doesn't have nearly enough to pay for what it owes. It's made promises to everyone, from allies to retirees, that it simply can't keep. To hang on to power amidst that web of broken obligations, it is going to get nasty on a level beyond which most can really comprehend.
I appreciate, however, that we are starting to glimpse the endgame. When a bankrupt state collapses, it's like a black hole. It sucks everything it can into its gaping maw. Everything it can possibly seize, will be seized. Everything it can possibly print, will be printed.
All your assets become its assets.
All it takes...is all you got.](https://pbs.twimg.com/media/GJx4-zEakAA4trz.png)
Olivia
Online
Emil Mikhailov
@emilmikhailov
Product at @cribl_io, Search; Formerly co-founder at Entry (YC w17).
👫 Proud husband and father 👼
San Francisco, CA
Joined January 2012
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Jonathan Haidt on the unnatural rise of gender dysphoria:
“It happens in clusters of girls who had no previous gender dysphoria when they were young … Girls get sucked into these vortices and they take on each other’s purported mental illnesses.”
ALL IT TAKES IS ALL YOU GOT
Wow, I love this so much.
First, the debt didn't matter.
Now, it still doesn't matter...
Because the state can take all your assets to pay it!
Here's the graph Brent cites:
Below is that same graph with titles and labels[1]. See how it says balance sheet of households and nonprofit organizations? So that $177T number isn't really about government assets. It's just everything every American household (and nonprofit, hedge fund, PE fund, and personal trust) owns[2].
And now we're getting down to brass tacks.
See, Keynesianism is like Communism in that it sees no real difference between household and government assets. There is no moral limit on how much they can take from the population via inflation and seizure, only practical limits. So, your household assets can and will be taken to pay for what this failed state owes.
And how much does it owe? Well for that we can go to a recent analysis[3] of the Feb 2024 Financial Report of the United States Government[4].
Here's the table where the US government itself admits that even $37T is an underestimate of the debt. When you include the "social insurance" of Social Security and Medicare it's another $78.4T line item.
But wait, there's more!
Later in the doc Treasury itself admits even *this* is a sharp underestimate of what the US owes in terms of Social Security and Medicare because it's not accounting for future payouts decades from now. Once it does, what does the number get to? Here's the direct quote from them:
"The total...sums to **$175.3 trillion** in PV terms. This need can be satisfied only through increased borrowing, higher taxes, reduced program spending, or some combination."
That $175.3T lines up with the ~$200T number that Druckenmiller[5] has been using for the all-in liabilities of the US government when you take everything into account. And of course, at this point we are in monopoly money territory, because:
a) The entire fedguv only collected $1.86T last year[6]
b) That number is itself juiced by deficit spending
c) The dollar is down ~25% in real terms since 2020[7]
d) And the "177T" in asset value plummets if liquidated
e) ...or if there is a financial crisis, or both
So: no, the US government doesn't have nearly enough to pay for what it owes. It's made promises to everyone, from allies to retirees, that it simply can't keep. To hang on to power amidst that web of broken obligations, it is going to get nasty on a level beyond which most can really comprehend.
I appreciate, however, that we are starting to glimpse the endgame. When a bankrupt state collapses, it's like a black hole. It sucks everything it can into its gaping maw. Everything it can possibly seize, will be seized. Everything it can possibly print, will be printed.
All your assets become its assets.
All it takes...is all you got.
![balajis's tweet photo. ALL IT TAKES IS ALL YOU GOT
Wow, I love this so much.
First, the debt didn't matter.
Now, it still doesn't matter...
Because the state can take all your assets to pay it!
Here's the graph Brent cites:
Below is that same graph with titles and labels[1]. See how it says balance sheet of households and nonprofit organizations? So that $177T number isn't really about government assets. It's just everything every American household (and nonprofit, hedge fund, PE fund, and personal trust) owns[2].
And now we're getting down to brass tacks.
See, Keynesianism is like Communism in that it sees no real difference between household and government assets. There is no moral limit on how much they can take from the population via inflation and seizure, only practical limits. So, your household assets can and will be taken to pay for what this failed state owes.
And how much does it owe? Well for that we can go to a recent analysis[3] of the Feb 2024 Financial Report of the United States Government[4].
Here's the table where the US government itself admits that even $37T is an underestimate of the debt. When you include the "social insurance" of Social Security and Medicare it's another $78.4T line item.
But wait, there's more!
Later in the doc Treasury itself admits even *this* is a sharp underestimate of what the US owes in terms of Social Security and Medicare because it's not accounting for future payouts decades from now. Once it does, what does the number get to? Here's the direct quote from them:
"The total...sums to **$175.3 trillion** in PV terms. This need can be satisfied only through increased borrowing, higher taxes, reduced program spending, or some combination."
That $175.3T lines up with the ~$200T number that Druckenmiller[5] has been using for the all-in liabilities of the US government when you take everything into account. And of course, at this point we are in monopoly money territory, because:
a) The entire fedguv only collected $1.86T last year[6]
b) That number is itself juiced by deficit spending
c) The dollar is down ~25% in real terms since 2020[7]
d) And the "177T" in asset value plummets if liquidated
e) ...or if there is a financial crisis, or both
So: no, the US government doesn't have nearly enough to pay for what it owes. It's made promises to everyone, from allies to retirees, that it simply can't keep. To hang on to power amidst that web of broken obligations, it is going to get nasty on a level beyond which most can really comprehend.
I appreciate, however, that we are starting to glimpse the endgame. When a bankrupt state collapses, it's like a black hole. It sucks everything it can into its gaping maw. Everything it can possibly seize, will be seized. Everything it can possibly print, will be printed.
All your assets become its assets.
All it takes...is all you got.](https://pbs.twimg.com/media/GJyAQnHbYAAak9h.jpg)
This is an example of what a US president should be like.
The State of Our Union
The State of Our Union
Who to follow
Alex Kendall
@alexgkendall
CEO at @wayve_ai teaching cars how to drive with machine learning 🇳🇿
Joseph J. Lam
@joejlam
On a mission to help people connect deeply with their loved ones ❤️ | CEO @ParentsAreHuman | Writing a book 📖 | Handbalancer 🤸♂️ | 📍SF
Jasper
@latentjasper
Dad, husband, machine learning researcher. Research Scientist @ Google Brain.
@paulg Oh, the glorious word 'diskette.' It would make a good name for a startup
Shower thought: I wonder if Somalian pirates feel a bit overlooked. They’re out there, hustling, doing all the work, yet it’s the Caribbean colleagues who get all the credit. Perhaps @Disney DEI team should sort it out
@yuris 5 am solves the issue :)
@elonmusk It’s almost there, man, almost there 🫶🏻Missing that last 10% improvement in the model to shake off the feeling it’s generated and really bring home the punchiness of the roast
@amybue In my experience, anxiety comes from having too many options, too many possibilities and lack of focus. But once decision is made- effectively reducing your options- anxiety goes away.
@darian314 I’ve been there 4 days ago. Tragedy, glad you are ok
@danielgross Timothy Snyder’s “On Tyranny” book is perhaps one of the most well written books on this topic and more. On Tyranny: Twenty Lessons from the Twentieth Century https://t.co/Ax5BB4UWUf
@AlexHormozi @AlexHormozi not sure who said it but:“a boy never really becomes a man until he's buried his father”. Look past the first reaction; realization becomes much more profound
This blog post walks you through how to use Cribl Search to analyze failed SSH login attempts, a common sign of intrusion attempts. The best part is that we're going to give you free access to Cribl Search to try it for yourself as well!!
https://t.co/urWYsnrrlv
@danielgross adaptive tresholding/denoising/erosion and dilation are no workie for those who are wondering. Good CTF @danielgross !
This is the right discussion to have.
I agree that "if we control spending and technology continues to bail us out" then everything is fine.
But (a) the establishment is blocking new technology and (b) it is not controlling spending.
Explore the advantages of Cribl Search's Operator Preview, a cutting-edge feature that empowers analysts to refine query operators before running complete searches – delivering accurate results and enhancing overall efficiency. https://t.co/2VyUrXoQjz
Introducing the new send operator in Cribl Search 4.1!👨💻👩💻
Find what you need with surgical precision and send results to another system without configuration.🤯
Check out our blog post and unlock new possibilities for data routing and analysis.🔍 https://t.co/vgaAD3zUQY
We are excited to announce that two of our co-founders @ledbit and @DritanBitincka will be pursuing their lifelong dream of becoming #WWE World Tag Team Champions. They will be working at night and on weekends to train and compete in the ring!
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