Treasury secretary warns US could default on its debt as soon as June

[thaibeachlovers]

2 hours ago, Longwood50 said:

Utopia?  No that would be the end of society as we know it.  Also as mentioned assuming that robotics could provide all the labor to produce everything mankind needed, no one would have a job with any income necessary to purchase anything.  Unless you believe in a magic lamp where a genie gives you everything you want, it isn't going to happen. 

Also as mentioned assuming that robotics could provide all the labor to produce everything mankind needed, no one would have a job with any income necessary to purchase anything. 

 

You are trapped in capitalist thinking. If robotics can provide everything we need ( it will be able to ) why would anyone need an "income"?

I know it won't happen because the rich will use it to get even richer while the unemployed will rot in ghettos.

End of society as we know it? Yes, and it's going to happen anyway. Our society, IMO, is too rotten to survive, and will get swept into the dustbin of history. Future societies will look at ours with horror, and regards us with revulsion, IMO.

[thaibeachlovers]

3 hours ago, Longwood50 said:

Again, you seem to have trouble "thinking"  Just where did those people who paid the taxes get their money from.  Unless your neighborhood had geese that laid golden eggs, or had money trees, they got that tax money from working at a job provided by some entrepreneur.  

BS.

The country of my childhood depended on farm produce grown by farmers, of which there were many, for export, along with forestry and fishing etc. I doubt there were any entrepreneurs about in those golden days before greed ruined the place.

Other than farming and forestry, many worked in state owned businesses, and the rest were probably small business owners. Hardly a capitalist society.

 

Your society is IMO built on greed, and we are the worse off for it.

Edited February 1, 2023 by thaibeachlovers

[thaibeachlovers]

21 minutes ago, Berkshire said:

I think everyone who understands capitalism knows that entrepreneurs are essential.  No one disputes that.  But the massive wealth creation we've seen in recent decades are mostly the result of the capital markets.  Virtually all the top billionaires in the world are wealthy through stock ownership.  Hedge fund managers can make obscene amounts of money without producing anything.  I doubt anyone wants to go after small business owners, but that's what you seem to be implying.  You're trying to defend the ultra wealthy who themselves largely believe they should pay their fair share.

Well said. Much of wealth is cornered not by those that create or produce, but by those that use money to make even more money, Drones that suck the life out of the underclass in pursuit of far more money than any human ever needed.

Does Amazon create anything at all, or does it just move things from the creators to the consumer? Do stock brokers create wealth, or just move money around? Etc.