![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
DJ Josh B Kuhl
@muchtallerirl
*Win and help win* DJ, Entrepreneur, Creator, Instigator, Procrastinator, Designer, Motivator, Collaborator, Human. Financial sovereignty begins with #bitcoin
Madison, WI
Joined July 2010
767 Following
213 Followers
1.5K Posts
Pinned Tweet
If you're reading this, just know the following three things are immutably certain and serve to be a stark reminder for you:
1. You are loved
2. You are capable of giving love
3. At the core, love is always the answer
“this is byurrtifoll”
“Though it may be said that one who is not already liberated cannot liberate others, the very process of forgetting oneself to help others is itself liberating.”
— Musō Kokushi
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)
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Kelda Roys
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ささき���｜佐々木大輔 
@sasakill
作家。歴史実践家。遠野物語を再創造する GAME OF THE LOTUS (@gotl_tono) 主宰
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@FLLFlyer y’all should figure your shit out. Your system is a pile of hot garbage. Dozens late for their flight just waiting to get through customs.
You’re 90% done. Congratulations! You only have 50% left.
More DJs
Bad Bunny’s concert in DR sheeeeeesh
@lexfridman is, quite frankly, one of my favorite human beings – one whose 'being' in action has so much value to offer the world. All the gratitude for the depth of your sincerity and the breadth of your curiosity. May your echoes ring forever on.
That said, I do see the news notice from April regarding supply issues and the lifting of purchase limits. I'm going to go out on a limb (*wink*) and guess that this is another round of supply shock resulting from COVID's influence, but would love confirmation!
@PaulStamets oh so grateful for the Host Defense line of mushroom mycelium powder as it's been a daily staple for a few years now - unfortunately it seems supplies are diminishing and I can't find any news as to why. Any insights? Belated HBD btw!
The greater the emotional content in the conversation, the more it needs to happen face-to-face.
1) No one knows how to actually learn a foreign language.
I have been aggressively studying Spanish over the next month before I fly to Spain. Wanted to share a breakdown of what I've been doing, and how it differs from school. (H/T @tferriss for helping me rethink this)
This drone video inside Tesla’s new Gigafactory in Berlin is absolutely incredible 🤯
The HumanOS is so hardwired not to stare into the sun, that even a simulation will trigger the systems that alert us to close our eyes.
The center of this image is just white from your screen.
But the HumanOS believes it is "sun-like".
You have no choice what to belive.
Most people suck at building a Crypto Portfolio.
They're too aggressive & get wrecked.
or they playing it too safe and leaving $ on the table.
Here's how to build a solid Crypto Portfolio in 2022:
(+ my personal portfolio recommendation)
A fractal of holographic light.
schools should include a class called Truth Is Hard, where u get bombarded with examples of confused eyewitnesses, incorrect public outrages, studies that failed to replicate, super convincing arguments that fall apart with one additional fact u didn't expect, etc.
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