ChaoticMusings

Vam · Getting Gobby

RE: Elon Musk

Barksdale · Getting Gobby

Maddog wrote:
Do you think a government with 36 trillion in debt might need some "trimming"?
If so, name me who else has even tried to do something about it..

As you may know we tried something similar here as a response to the 2008 crash and had a policy of austerity between 2010 - 2015. It disproportionately impacted the most vulnerable in society. Living standards fell during this time.

Whether it was a success or not depends on who you ask and the metrics you apply but it roughly achieved its aims of reducing the budget deficit and improving the debt to GDP ratio. Growth slowed however. Unfortunately we then set the country on economic fire with Brexit in 2016 and Covid then poured petrol on the flames. Living standards fell further until we get to today where many working class people are struggling to make ends meet.

Our current Labour government is essentially following a policy of austerity 2.0. My expectation is they will fail to improve the economy leading to a further fall in living standards, this time swallowing up the middle class. By the end of this Parliament we would have had 20 years of difficult conditions for ordinary families.

I don't think any of our political parties (including Reform) are going to push for wealth to be redistributed from the wealthy who are hoarding it to ordinary families / lower taxes on ordinary people / higher minimum wage requirements so they are revitalised come the next election, adding a further 5 years onto this total to make 25 years.

If this sounds like a cautionary tale it is because it is one.

I've mentioned before that I am giving consideration to re-locating overseas for a while. If my kids were older I would rent out the family home in London, the income from which would be more than enough for a nice life abroad. I can work remotely and even if it was part time we would have enough money, with plenty of travel, dining out and theatre trips thrown in. I would have done that this year.

By the time of the next election by kids will be old enough for this to be a reality. I will assess if things have improved in UK but if my expectation is correct and they haven't I will put that plan into action.

I don't think the UK is finished (or even the US) but I don't think they will be the lands of opportunity and the good life for quite some time yet.

Anyway, happy Friday everyone

Maddog · Go Outside

Barksdale wrote:
Maddog wrote:
Do you think a government with 36 trillion in debt might need some "trimming"?
If so, name me who else has even tried to do something about it..
As you may know we tried something similar here as a response to the 2008 crash and had a policy of austerity between 2010 - 2015. It disproportionately impacted the most vulnerable in society. Living standards fell during this time.
Whether it was a success or not depends on who you ask and the metrics you apply but it roughly achieved its aims of reducing the budget deficit and improving the debt to GDP ratio. Growth slowed however. Unfortunately we then set the country on economic fire with Brexit in 2016 and Covid then poured petrol on the flames. Living standards fell further until we get to today where many working class people are struggling to make ends meet.
Our current Labour government is essentially following a policy of austerity 2.0. My expectation is they will fail to improve the economy leading to a further fall in living standards, this time swallowing up the middle class. By the end of this Parliament we would have had 20 years of difficult conditions for ordinary families.
I don't think any of our political parties (including Reform) are going to push for wealth to be redistributed from the wealthy who are hoarding it to ordinary families / lower taxes on ordinary people / higher minimum wage requirements so they are revitalised come the next election, adding a further 5 years onto this total to make 25 years.
If this sounds like a cautionary tale it is because it is one.
I've mentioned before that I am giving consideration to re-locating overseas for a while. If my kids were older I would rent out the family home in London, the income from which would be more than enough for a nice life abroad. I can work remotely and even if it was part time we would have enough money, with plenty of travel, dining out and theatre trips thrown in. I would have done that this year.
By the time of the next election by kids will be old enough for this to be a reality. I will assess if things have improved in UK but if my expectation is correct and they haven't I will put that plan into action.
I don't think the UK is finished (or even the US) but I don't think they will be the lands of opportunity and the good life for quite some time yet.
Anyway, happy Friday everyone

And the only thing worse than painful austerity now is the status quo..

You keep telling me that correcting past mistakes is going to be painful..

I've known that for decades. Irresponsible and reckless government has consequences. I'm sorry if you believed otherwise..

Maddog · Go Outside

Vam wrote:
Maddog wrote:
jackb wrote:
All America is really left with regarding it's debts is default and war.
Looks like that's what's being prepped for from where I'm sitting.
Probably won't have enough money for a war.

And US voters have elected congressmen every 2 years that have drawn these budgets up and passed them.

There's no discipline or spine anywhere in DC. No discipline in my country at all..

"When the people find that they can vote themselves money, that will herald the end of the republic." -- Ben Franklin
See now, this entire post draws me in. Because, clearly, it’s heartfelt.
While the rest of the world is looking in with shock and awe, you‘ve actually been experiencing all the years of batshit governance in real time. As I’ve said before, I view you as the ‘boots on the ground’ guy.
And again, FWIW, that’s why I have to respect your opinions - no matter how much I may disagree with some of what you say, or how many rolly-eyes you aim at me.

It's not heart-felt. It's analytcal. Anyone anywhere could see the debt bomb being created here. And the creation of that bomb isn't making things tough now. That's why politicians use debt to buy votes. Franklin predicted as much.

The problem is around the corner and we're getting closer to that corner.

You're focused on Trump while he's not doing anything that different than Harris would have done in regards to our biggest problem, and all the while pretending our (and possibly the planets) biggest problem doesn't exist..

Are you remotely aware what will happen when we have to just create money all day every day over at the federal reserve to loan to our government because the rest of the planet demands a 20% return on bonds?.

Barksdale · Getting Gobby

Maddog wrote:

And the only thing worse than painful austerity now is the status quo..
You keep telling me that correcting past mistakes is going to be painful..
I've known that for decades. Irresponsible and reckless government has consequences. I'm sorry if you believed otherwise..

Sure, but you cannot really outline the British experiment with austerity without outlining the suffering that came along with it, and in particular who bore the brunt of it. It's a fundamental part of the story.

The pain of change is a given. What is not a given is that the people who are least capable of shouldering that burden and upward should be ones to principally do so, rather than the ones most capable of doing so (the rich) and down. It's perverse logic.

The rhetoric coming out of the WH now is similar to what we had with the coalition government here in 2010. They presented austerity as the only way, rather than one economic policy among a range of others to solve the issue. It wasn't an inevitability. It was a political choice and ideologically driven, because the government at the time had a deliberate desire to shrink the state rather than have higher taxes on the wealthy (or growth orientated stimulus wich probably isn't realistic in the US context now.)

In the end governments who imposed less severe forms of austerity following 2008, including the US, recovered faster following 2008. It was an underwhelming policy in isolation which generated a lot of hardship for not great results.

Maddog · Go Outside

Barksdale wrote:
Maddog wrote:
And the only thing worse than painful austerity now is the status quo..
You keep telling me that correcting past mistakes is going to be painful..
I've known that for decades. Irresponsible and reckless government has consequences. I'm sorry if you believed otherwise..
Sure, but you cannot really outline the British experiment with austerity without outlining the suffering that came along with it, and in particular who bore the brunt of it. It's a fundamental part of the story.
The pain of change is a given. What is not a given is that the people who are least capable of shouldering that burden and upward should be ones to principally do so, rather than the ones most capable of doing so (the rich) and down. It's perverse logic.
The rhetoric coming out of the WH now is similar to what we had with the coalition government here in 2010. They presented austerity as the only way, rather than one economic policy among a range of others to solve the issue. It wasn't an inevitability. It was a political choice and ideologically driven, because the government at the time had a deliberate desire to shrink the state rather than have higher taxes on the wealthy (or growth orientated stimulus wich probably isn't realistic in the US context now.)
In the end governments who imposed less severe forms of austerity following 2008, including the US, recovered faster following 2008. It was an underwhelming policy in isolation which generated a lot of hardship for not great results.

If the government cuts spending, it will always be felt by those with the least amount of money..

We had no austerity after the 2008 crash.

We don't even know what that word means.

That's why our debt to GDP is 123% now. Your country was far more responsible.

Hell, drunken sailors on shore leave are more responsible..

Vita · Know It All

Apparently Elon Musk wants 5000 wee Musketeers.

He prefers IVF because he wants only son's and said sprogs would have to be born via Caesarean Section so their brains don't get squashed.

Syl · FIRM BUT FAIR.

Vita wrote:
Apparently Elon Musk wants 5000 wee Musketeers.
He prefers IVF because he wants only son's and said sprogs would have to be born via Caesarean Section so their brains don't get squashed.

Anyone remember 'The Boys from Brazil' film?

Date: Apr 27 12:07 PM, 2025

Vita wrote:
Apparently Elon Musk wants 5000 wee Musketeers.
He prefers IVF because he wants only son's and said sprogs would have to be born via Caesarean Section so their brains don't get squashed.

But what can he name them, X Æ A-Xii will be a tough act to follow.

Maddog · Go Outside

"Things are undoubtedly bad at Tesla. Its sales are dwindling. Its profits are plunging, as is its share price. There are regular protests outside its showrooms. The Cybertruck is a flop. And somehow, it’s actually a lot worse than that.

The 71% drop in net income it just reported may have been overshadowed by CEO Elon Musk’s announcement that he would be stepping back from his controversial duties at the Department of Government Efficiency (DOGE). But that drop is just one indication of serious financial sickness at the EV maker, problems brought on by falling sales for the first time in its history and falling prices for electric vehicles."

https://www.cnn.com/2025/04/28/business/things-at-tesla-are-worse-than-they-appear/index.html

Tesla is likely done. I don't think selling it will save it now..

I bet Elon has learned the way to make money is to work behind the scenes like Soros.