And we have a $4 Trillion budget for 2018. So, potentially 1/4th of all our tax money is stolen. Hey, we'll never know will we.
As an aside, I read a piece today that claimed Bitcoin would destroy the US Dollar when bitcoin reaches 25,000. It hit 10,000 today and it has been on a tear. 5 grand just last week or maybe it was the week before.
I make no claim to understand bitcoin as I just immediately pegged it as a Ponzi scheme and blocked it out but maybe something to consider.
Ponzi.
ReplyDeleteThat was the guy on Happy Days?
"He" wasn't really a guy Ed.
DeleteYou address two things: governments, which are as disparate as apples and oranges—the topic of which elicits a wide range of philosophies (none of which in actuality serves the interests of the people), and business investment. It is a very complex discussion.
ReplyDeleteAs to the former, we possibly agree that no government has ever been a responsible steward to the people’s money or the nation’s resources. The reason for this is that the people have never held the government accountable. Not only has voting become a joke, but government is also far too intricate to lay at the feet of only one or two politicians or appointees. Now then, given where we are in the 21st Century, suppose the government suddenly shut down the F-35 project; how would that affect employment in the US (another complex issue)? People working for Lockheed, who are actually producing something, stand in stark contrast to the tens of thousands of clerks employed by HHS or IRS, who produce nothing at all. In the first instance, we probably do not want to see thousands of unemployed aeronautical engineers; in the second, don’t we all detest the bureaucrats?
Shakespeare observed, “A fool and his money are soon parted.” I don’t care if people invest in bitcoin or ENRON. I only know that at my income level, I won’t risk such investments. The axiom “Who Dares Wins” might apply to aggressive behavior in combat, it doesn’t apply to risking limited disposable income on the outside chance that I’ll suddenly become a gazillionaire.
Mustang, it is a very complex discussion. My knee jerk reaction is that everything is geared to fleece we the consumer citizen like sheep. It takes a lot of effort to avoid having that happen to you.
DeleteI'd say 'government' which is a collection of individuals as the stock market is a market of stocks, only does what it has to to get re-elected and stay in a position to enrich itself. With the congressional sex assault slush fund and secrecy and the more general abuse of power slush fund to keep accounts of drunken congressmen out of the news, I'd say congress has gotten increasingly more sophisticated and talented at 1) abusing power, 2) enriching themselves in the process. I'd estimate there are thousands of creative ways government has come up with to steal our money and abuse us.
Yes, the F-35 provides us something of value regardless of cost but comparing the F-35 to the P-51. The P-51 with the Merlin engine is (as far as I know) regarded as the finest fighter plane to date based on all factors, one of them being cost. Maybe if we were in another war like WWII where the efficiency and cost effectiveness of producing the weapons was number one on the list for being able to come out on top, we might get F-35's a lot faster and less expensive and with fewer startup bugs. What if we told Lockheed, Boeing, General Dynamics, Grumman, Northrop that one of them will get a major contract if they can supply us with X product on Y budget in Z time frame? Slippage would always be allowed but slippage in excess of ??% would result in termination of the project and immediate stoppage of payments, maybe even sue for payments already made. Just brainstorming the impossible.
The Raptor was very expensive. I don't know what sort of things to Raptor has done for us actually and don't expect to either but how many billions went out for that one?
We've all noticed we spent a ton of money on military engagements that really haven't provided Jack Squat for America. How can this continue?
I could have Tons of money and would not invest in a single bitcoin. I did see an interesting little video take where people are talking about having bitcoin replace all the central banks (at least) and become the de facto currency for the masses. They're going to have to make that bitcoin thing a lot simpler for that to happen but I wouldn't mind seeing central banks go the way of the DODO so there is that.
Imagine a Free Market again?
PS, I'm sure you know 100 times more about this stuff than I do.
Deletechickens. I recommend collecting chickens. Both the US dollar and bitcoins will be worthless in the new barter economy after the inevitable collapse. And I like eggs. Over medium.
ReplyDeleteIs there a a mutual fund for that?
DeleteMeanwhile the Rich will get Richer in the Futures Market...Yep, you can "invest" in anything these days.
DeleteEd, I think the ticker is SUKRS
DeleteBunk, it really is a casino and the big banks are the owners.
DeleteMr Blade, What about tardigrades? I have space for millions of them. I wonder how much they're going for.
Deletemeh... Tardigrades look too much like Michael Moore for me to collect them in my wallet.
ReplyDelete