Chevy Volt a Failure - GM to Layoff 1,300

I could post something about putting the genie back in the bottle and it stopping ALL of the crony capitalism -- the noble gladhanding cranberry loves and the horrible stuff he doesn't find worthwhile.

But we get closer every day to the point where it is going to be a moot conversation. Because it's not like the "subsidies" we are talking about get paid for with tangible income or assets. We are living a fantasy that will come to an end.

We have a government that sells debt to fund trillions of dollars worth of spending every year -- KKR (or the war in Iraq) and Tesla, included -- And we have run the accumulated public debt (Federal, state, local) up to a number in the tens of trillions of dollars.

We have a central bank that has suppressed interest rates for more than a decade now, and since 2008 has avoided dealing with the collapse on the back of the mania it created, by further manipulating the debt markets by buying up trillions of dollars of debt to drive up the value (and keep rates suppressed). ...

That allows them to monetize the government's debt (and has created private credit bubbles all around us, too) and enable putting off having to face reality. If they stop rigging the interest rate markets tomorrow--or they lose control of their ability to rig rates at some point (where we are actually headed)--all hell breaks loose, and we will drown in our public debt. Sooner than most people want to believe.

In the mean time, it's like feeding heroin to an addict. That combination of addiction to public spending and monetary manipulation that puts off its consequences, has enabled the people like cranberry (and his arch nemesis crancheney) to find more and more pet things that we have to publicly fund, which in turn has pushed the accumulated debt even higher. Like an addict, you want more of it -- and you find ways to get it until you either get clean or OD.

And that is what is going to happen. It's like a spring that someone is pushing to keep compressed. When it uncoils -- and the harder you push, the more violently you should expect it to eventually uncoil -- there will be a panic and among other things (a lot of other likely consequences), rates will rise to reflect reality -. Either we will default on our debt at some point, which will force reality on us. Or we will avoid default and have to adhere to some fiscal sanity moving forward -- by necessity. And in a world of fiscal sanity, there aren't trillions of dollars of debt to tack onto the public balance sheet every year and Elon Musk isn't getting billions of dollars of public funds.

So really, when I look at at this thread. ... I see conversation that reflects a relatively small period of time that in hindsight people will realize was a temporary fantasy world.

 

I am not predicting economic devastation. But if in your simplistic way of reading my posts that is what you took from it. ... Nope. I don't have a timetable. Just as I don't have a timetable for when you are going to post stupid things in response to me. I just have figured out with reasonable certainty that it is going to happen every so often.

 

What you took from that post was three sentence fragments that you bolded out of the context of the rest of the post to try to bog me down with your bullshit?

Try reading the swaths that you didn't selectively bold. I was trying to say something and it wasn't "economic devastation."

This actually explains a lot about you. In a "bold a few words every two paragraphs" world -- I can definitely see how you can create anything you want out of something. You can convince yourself that the things you wanted publicly funded were a result of the democratic process, but the things someone else managed to get publicly funded that you don't approve of were the result of the democratic process being subverted.