The US is broke. The real debt is $175T+. And @elonmusk is 100% correct on the numbers. But the difficult step is the logical conclusion. There is no fix. It's a writeoff. A national bankruptcy. And the default will be in the form of money printing.

From the 2024 Financial Report of the United States[1] comes the understatement of the century: > The total resources needed for all the programs sums to $175.3 trillion in PV terms. This need can be satisfied only through increased borrowing, higher taxes, reduced program spending, or some combination. Translation: the average American's assets are the government's collateral[2,3]. Because US citizens have freedom of speech, and the right to bear arms, but no amendment that establishes a max tax. As such, their assets will be seized to pay for their profligate state. Much of that may be via inflation, but you should expect direct seizure as well, like Executive Order 6102. It's just past time to be extremely realistic about what's coming. The point of no return was passed long ago. Because countries do go bankrupt, just like companies do. And it's bad. There was a lot more shooting in the fall of the USSR than in a typical corporate bankruptcy. But it'll be worse if you're endlessly romantic about it, and aren't prepared for what's to come. [1]: fiscal.treasury.gov/files/reports-… [2]: balajis.com/p/all-it-takes… [3]: balajis.com/p/americas-175…

@balajis @RayDalio 2cents please