Thread by @s7ephen

A million seconds is ~12 days.
1 Billion seconds = 32 Years.
1 Trillion seconds = ~31,600 years.

National debt $31 Trillion.

If you paid a dollar a second, it would take you 979,600 years.

Or if every American agreed to pay, we'd each have to stroke a check for ~$240,000
🧵

(this math was done when the debt was $14 Trillion

The Interest payments ***ALONE*** on our $31 trillion in US debt exceeds what we spend on the Defense Department.

Stanley Druckenmiller (famous investor) on CNBC. "The intrest payments on the debt alone wil consume everything."

Here's what the media says:

Here's what Nobel Prize winning Economist Milton Friedman says:

Here's what pundits and propagandists say.

(This one in particular is heir to a banking dynasty so he know better...or something)

What politicans said:

Here's what politicians and media said in unison

More of what the media said

Well we dont know who to trust here....so what are companies and bankers doing and saying?

Smart guys like head of Goldman and JP Morgan...what is their take on things?

oh.

Maybe we misheard the politicians....let's check back in.

Wait a minute:
"if governments can just print money, why are we paying taxes?" 🤔🤔🤔

Why does inflation exist anyway?

oh.

Ok ok .....So how much inflation we talking exactly, is it *REALLY* that bad?

Let's check the purchasing power of $100 over time.

Ok, that can't be right, let's check another source...
The power of dollar over time (infographic)

With our personal finances, and with common sense, everyone knows you cant spend your way our of being in debt. You have to cut expenses. Modern Monetary Theory (MMT) and Keynesian economics tells bureaucrats that this is wrong and that you CAN spend your way out of debt.

"You can't Keynesian stimulate your way out of Cost-Push Inflation"

-- P. NAVARRO

So how bad could it get exactly?

In Oct2022 Charlie Munger (Warren Buffet's long-time investing partner) said exactly what others have been saying since late mid 2021. "The troubles that come to us could be worse than what Volker was dealing with."

So if smart people know this why are they doing this and not reversing course? 🤷🏾

We can't know their motivations but maybe we can look at what they did in past crises:

In 2008, 4 of 7 Federal Reserve Bank seats departed just weeks before markets started imploding.

We are in competent hands. Jerome Powell at the Fed and that loveable apsy gnome Janet Yellen at Treasury.... What's she been saying lately?

Oh here's something from 21March and then the very next day.

oh.

Ok so maybe they're just busy and overwhelmed... how bad could it be? Maybe smart hedgefund guys like Ray Dalio (creator of the largest hedgefund in the world) knows....What has he written recently?

ah crap

is there anything to substantiate Dalio?

ugh

If things were really not good, the media and politicians wouldnt outright lie. There would be some kinda indication they were obviously wrong.

Is the Fed *really* to blame for this stuff? Oh sweet Milton Friedman has a talk on it called "Policy Blunders of the Federal Reserve" here is a segment.
(Recorded at University of San Diego & San Diego Chamber of Commerce ©1978 full talk here: )

Ok but what about my homie Thomas Sowell on the Federal Reserve?

ok, well damn.

Ok, well what about "maestro" Alan Greenspan. He was the Federal Reserve Chairman himself...so he might offer a balanced opinion

ok damn

Well this dude says there is infinite cash at the Fed and not to worry..... Thats what I wanted to hear.

*phew*

(End of 🧵)