Youtube hearted comments of US Debt Implosion (@timcampbell2023).

These women wanting men who make 250k have been run through like shit through a tin horn
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deflation in a debt based fraction reserve system is catastrophic - it means there is not enough money circulating to service outstanding debt; plus, the government cannot tax deflation so they insist on a policy of systemic inflation
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I have my own small business and live a subhuman existence with no companion or family, it becomes more unaffordable to live each day
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Imagine a world where the entire money supply is created as debt, and rented out at interest. "While each euro, pound, crown, rouble, dollar and yen of course is somebody’s asset, at the same time it is also somebody’s debt. Consumers carrying banknotes in their wallets hardly think of themselves as creditors; nonetheless, banknotes represent the central bank’s debt to banknote holders. Similarly, a bank deposit represents the bank’s debt to the customer." - Soumen Pankki - if you woke up tomorrow and all the debt had be magically paid, there would be no more money in circulation, in our current system money comes into existence in the form of debt with interest. If people could wrap their minds around the implications of this there would be a revolution by tomorrow morning. The fiat fractional reserve currency system is the greatest fraud and injustice against humanity and the ecology of the planet that has ever been witnessed.
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In a nutshell, the FEDs effort to combat inflation is being overpowered by Washington's overspending. Inflation won't be brought under control due to this, but the private sector will be decimated in the interim. Washington is negating the FED. Both are at war against small business.
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having more robotics and AI would free us up but it seems like the increased complexity would require more and more highly skilled labor; also the critical rare resources required to create more and more robots would likely get attenuated. I don't know how much it would free us from, maybe if the population was vastly lower, its a wonderful vision for the future but it humanity has to reach a state of peace before anything like this can be realized, otherwise AI and robotics will go into military application
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I believe the creation of credit and the medium of exchange should be a public utility managed for the common good and not for profit. I believe in profit but precisely not when it comes to credit and the money supply. We have a sacred duty to deny the money changers of this power, a power which they use to abuse the people. We are being enslaved by the private banking and the central bank. Interest earned on loans should be used in place of tax or rebated back to the people beyond expenses. No bond system is necessary, look to the colonial scrip system practiced in Ben Franklin's time that brought unparalleled prosperity to colonies, the system that the British central bank destroyed. Look at the interest free greenback fiat Lincoln issued to win the war. The British central bank was offering 25% war loans to both sides, Lincoln issued the interest free greenback. We can do similarly to fund our expenses instead of paying over a trillion a year on interest. There are other systems than this madness we have.
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I'm a master at mitigating the effects of inflation so I can continue saving. I mention $5 for greens at the store, I don't buy it. I go to the store each day when doing errands to get the expiring stuff discounted. And my food costs are low due to this. But you can only mitigate so far - I would make the most miserly person dizzy with my frugality. But it's poverty, inflation impoverishes us all and diminishes our standard of living. I am at the bottom, I am the poorest of the working poor and receive no money from the state. I don't have insurance, a family, etc. How do you think inflation effects the working poor? You can mitigate but something will eventually break.
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Our debt was just downgraded. As the debt grows the a greater portion of tax revenue collected goes to servicing the debt and not the common good. This percentage increases over time and thats a huge problem. How do you resolve that? At some point debt spending does not increase GDP. That is what policy makers hope, is that tomorrow’s debt spending produces the growth that it once did. But the debt spending will become more inefficient over time. Also, Japan central bank has kept its rates low. If the US government lowers its rate the Fed will have to overtly monetize. They are covertly monetizing the debt right now through the 10 year. This economy is trapped. Any benefit of innovation will be negated by the Leviathan. We are at an impasse, the corruption of Washington is the main issue.
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I just started doing some Jerusalem artichoke, another good root vegetable
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interesting thing about FL is it's small compared to the other states in terms of population and landmass that have a higher GDP. New York's GDP is comparable but what does New York produce? It seems like it's financial in nature mostly whereas FL is diverse and actually producing real things.
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Deflation due to productivity benefits everyone, deflation of the money supply in a debt based fiat system like ours is catastrophic. This is something you're overlooking. Not to mention the predicament our government is in and their spending and debt load, that is a whole other problem with a deflationary policy. Debt cannot adjust its price in deflation and the government has to repay regardless of the money supply. What you're proposing doesn't work under current monetary system. 150 years ago maybe but maybe not, because if I remember correctly the FED came into existence because of problems with monetary deflation at that time.
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Free people are more productive and work harder, it's the central planners bane; communitarianism synthesizes capitalism and communism into a system that maximizes worker output and what the state wants to glean from them
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We are the generation to be left holding the bag... work hard guys
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Clean sources of starch are very important, are potatoes a crop that they typically have to use chemicals on? I've had a lot more success with sweet potato, nothing seems to bother it
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the US chief export is inflation, the resource producing nations of the world will align themselves away from our system over time. There will be a period of deglobalization, then a new order which will not be based around the US dollar.
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@EconLessons tax revenues down means that a government unwilling to slow spending has to borrow more. I'm down 60% from last year in terms of income - I can compare demand from year to year, demand is gone. So this does me no good. I pay less taxes because income is lower, this is no good. People aren't spending, but the government is spending more. Private sector is being destroyed. We have a system where people's livelihoods have to be decimated to correct the excess of banks and governments.
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And how much GDP growth say this year is based on credit debt which is very high, possibly all time. In other words you can use debt today and have GDP growth, but what is this in the future? It becomes a drag on growth.
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Degrading the value of money is an affront to human dignity. I can't say Crypto is worse than fiat. When the government degrades our money, the degrade our time, our effort, our worth. This is a monumental travesty against human dignity
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its a tragic waste of energy and resources all for something people don't even use for commerce; NVIDIA is skyrocketing because they make all the GPU's that become obsolete mining equipment within a couple of years. That being said, knowing what I know now, I may buy in next time the blood is in the streets and will come back around and as long as fiat is being debased through socialist policies it's not hard to guess what it will do. The commies will have to ban it.
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I traded crypto for a while - it is the ultimate greater fools game. It will never succeed as money because it doesn't meet the definition of money. Would you want to get paid in something can depreciate by 50% in two weeks? And what I've seen is that massive whales control each crypto market and there is no central authority to regulate. It's all about pump and dump and poop and scoop 24/7, there are even large networks of traders that get together to manipulate selective currencies at certain times, I've been in them. I've heard them talk about implementation for this, implementation for that for over ten years and it is still not used for commerce, it's all lie to get you to buy in... they need bagholders. It's a ponzi - and you have a myriad of MLM hawkers promoting their coins. Once they suck enough dummies in and the price shoots up, they burn them all up and repeat the cycle. I've watched the dumb money get slaughtered time and again. The crypto market is the quintessential den of thieves. It's only for speculation, and if you think you can outsmart the whales, have at it.
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reinhardt and rogart discovered that at 90% debt to GDP you go through the looking glass, for every dollar you spend you begin to generate less than a dollar of GDP as the debt to GDP goes up... the government is trying to spend their way out of a debt crisis, we have crossed the event horizon
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Governments hate deflation, especially heavily indebted ones. They can't tax deflation but the individual benefits from increasing purchasing power even without an increase in income. They dread it, it is an existential threat to the ponzi they have set up. Central banks and governments love inflationary policy as it allows wealth transfer via dilution of the money supply, an invisible tax. They wont and cant tolerate deflationary policy by design. The FED mandate was last changed in 1977, after we came off the gold standard a few years earlier. That is around the time the fiat petrodollar system was being firmly established. The money supply afterwards took off. A policy of inflation makes alot of sense from the perspective of tax revenues. With commodity backed money it would work differently, i think the inflationary policy fits with the debt based fiat system and what the central planners want to accomplish. Edward Bernays was hired by us government in the 40s to create a religion around consumerism. It all ties together nicely. You live on a neo-fuedalistic plantation. The slaves take care of their own needs this time around and are controlled through the system of taxation, inflation, consumerism and wage slavery. Also, another point, in our debt based system deflation causes the whole system to implode, new debt has to be created to service the old debts interest you seem to look past that. This is why you are about to see a wave of foreclosures and defaults. If that wave gets too high prepare for massive civil unrest.
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