Truth is greater than Power, Power is greater than Comfort.
TINSTAAFL
The US debt does not matter, the relationship between spending and productivity does.
If rules that you have to play by are different than the rules that they have to play by.
It ain't about rules.
It's there are a different set of rules for which side you're on.
Second order effects.
Careful of playing games where the rules are different.
That's the rule.
@convexity888@vgr Munger and Kahnemann and Taleb (I think) recognized that behavior labeled as biases or misjudgement was contextual. It is behavior which in the modern world is counterproductive but earlier in our evolution was productive.
@PaulPortesi@JoeSingh7 Everything eventually fails (entropy?). Winning is but the deferral of failure. It is more difficult to explain what has not yet happened than what has happened. Black swan-ish.