Friday, December 10, 2021

Manchin issues inflation warning


I believe they also need Manchin vote to raise the debt ceiling…


Democrat activists are ramping up pressure on Manchin and Arizona Democratic Sen. Kyrsten Sinema to support passage of the legislation in the Senate. "I'm not liberal," Manchin said on Tuesday evening. "I don't know what to tell you. I love you all. I'm just not. I don't try to change Bernie [Sanders]. Bernie is true to himself. I respect and appreciate that. Why do they want to change me?" 

Some in the business community, notably Tesla and SpaceX CEO Elon Musk, oppose Biden's bill, warning that the nation's record $3 trillion deficit is not sustainable. "If this was a company, it would be a $3 trillion loss," Musk said, addressing the federal government's level of spending. "This can't keep going."

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26 comments:

Tom Hickey said...

Ha ha, super techie Musk is clueless about how government finance actually works. He appears to think government is a big business that is dependent on revenue and borrowing to get munnie.

Peter Pan said...

Musk sees government as a cash cow for his extraterrestrial ventures.

Matt Franko said...

Musk might have just fucked my whole “Art Degree!”’ schtick Tom!

Matt Franko said...

Gotta investigate his whole education now…

Peter Pan said...

Elon Musk is no techie. Sort of like Steve Jobs being perceived as a techie, when it really was the work of Wozniak.

Greg said...

Instead of throwing out his theory for lack of evidence Matt will simply resort to confirmation bias by discovering that little Elon Musk took an art class when he was 14 and got an A. His art teacher even commented that he was an exceptional student.

Matt Franko said...

It’s not that simple with him…

Matt Franko said...

Wiki says he was in his stem major but he dropped out have to look more into it probably couldn’t hack it… It’s been reported that he is a high functioning autistic

sths said...

Matt just because someone may have the technical training to understand something doesn't mean they automatically do. Despite what we think here 99.9 percent of the world has never heard of MMT. And most people that have heard of it is some twisted strawman version of " oh just print money to solve everything". You can't understand something if you've never been exposed to it. Of course Elon might also just be straight out lying.

S400 said...

More than 100 years later one would think it’s time to ditch the iconizing of people like Musk, Gates, Jobs. But nope. Still in full swing as if they are some oracles. They are not.

Matt Franko said...

“ Of course Elon might also just be straight out lying.”

This is you guys “vast neoliberal conspiracy!” theory…

I take the other side there and always have…. They are not educated/not qualified…

Gotta look more into musk…I think autism is characterized generally by a deficiency in the ability for abstraction…

I think it has been reported he has Asperger Syndrome..l which is high functioning autism

Matt Franko said...

https://psychology.stackexchange.com/questions/4538/is-abstract-knowledge-incompatible-with-literal-memorization

“Solomon Shereshevsky (Luria, 1968) had an almost perfect literal memory. He remembers strings of hundreds of digits for years after only having read them once. I would like to explain this by his awesome synesthesia: everything is encoded in so many ways that everything is considered as new, and so a new memory trace is formed to remember it (we know that "first time" experiences are well remembered (Robinson, 1993), as are distinctive features (Hunt & Worthen, 2006)). Shereshevsky's gift was compensated by big difficulties recognizing (visages, which he considered extremely changing) and had basically no understanding of abstraction: metaphor, figurative language.“

High functioning autistics are characterized by an inability to understand the figurative or the abstract… but high ability for rote memorization…

Then the brains default when it cannot understand the figurative (Art Degree side) or the abstract (Science degree side) is reification…. The Art Degree brain thinks the figurative is literal and the Science Degree brain thinks the abstractions are real…

Musk here thinks either the figurative “out of money” is literal or perhaps that the USD Accounting abstractions are real and we can run out if them.. I think it’s probably the former… I don’t think he has ever endured the rigorous training for it to be the latter…

Peter Pan said...

I wouldn't want Musk designing bridges - not the ones I would have to use.

Matt Franko said...

He has employees who know how to do that…

Matt Franko said...

https://www.bbc.com/news/world-us-canada-57045770

“Tech entrepreneur Elon Musk has revealed he has Asperger's syndrome while appearing on the US comedy sketch series Saturday Night Live (SNL).
The 49-year-old told viewers he was "the first person with Asperger's" to host the long-running programme - to loud cheers from the audience.
People with Asperger's interpret the environment around them differently to other people.
It is thought to be the first time Mr Musk has spoken about his condition.”

Matt Franko said...

https://www.autism-society.org/what-is/aspergers-syndrome/

“ They may have limited eye contact, seem unengaged in a conversation and not understand the use of gestures or sarcasm.

Their interests in a particular subject may border on the obsessive. Children with Asperger’s Disorder often like to collect categories of things, such as rocks or bottle caps. They may be proficient in knowledge categories of information, such as baseball statistics or Latin names of flowers. They may have good rote memory skills but struggle with abstract concepts.

One of the major differences between Asperger’s Disorder and autism is that, by definition, there is no speech delay in Asperger’s. In fact, children with Asperger’s Disorder frequently have good language skills; they simply use language in different ways. Speech patterns may be unusual, lack inflection or have a rhythmic nature, or may be formal, but too loud or high-pitched. Children with Asperger’s Disorder may not understand the subtleties of language, such as irony and humor, ”

Musk probably has trouble with the figurative “money”… limited ability to understand the abstractions of National Accounting… so he’s going to reify and hence thinks we can run out of it, etc…

lastgreek said...

He went cheap with the hair transplant

Peter Pan said...

He has employees who know how to do that…

What use is he then?

S400 said...

“What use is he then?“

He’s the guru. Got to have a guru.

Matt Franko said...

I think a lot of these guys hire a lot of unnecessary people to create a population of sycophants in their companies to yeah perhaps treat them as some kind of guru or cult leader…. They could get the job done for a lot less payroll expense…

Matt Franko said...

“ What use is he then?”

He provides some type of leadership and high level focus for the company…

If you read the backgrounder I posted above on Aspergers, “ Children with Asperger’s Disorder often like to collect categories of things, such as rocks or bottle caps.”

These companies are like rocks and bottle caps he is hoarding..

To BUILD great wealth it requires a lot of concentration…. Not diversification… diversification is good to PRESERVE wealth…

Musk is a natural concentrator with his Aspergers…

But that still puts him at a great disadvantage as far as his ability to understand highly abstract concepts.,, hence his “out of money!” babbling…

Peter Pan said...

Now he's thinking about selling his collection, and becoming an influencer.

This guy is a flake.

Peter Pan said...

Musk is successful because society values style over substance; fantasy over reality.

Peter Pan said...

And because people who do possess technical talent, don't prefer the spotlight.

Matt Franko said...

He’s not thinking about it he has to sell to generate USD balances to settle taxes on his maturing TSLA stock options,..

So he probably resents the government making him have to part with his rocks and bottle caps…

He went on some sort of libertarian rant the other day where he said “the government has a monopoly on violence “ blah blah blah..,

That is textbook libertarian…. Then he said govt was losing munnie if it was a business with the deficit or some deranged analogy …

Greg said...

He’s into crypto…… hopeless hard core libertarian.

I did always respect his decision to open source his EV technology. He saw it a something that more minds working on would only be a positive…. but he’s becoming a bit of a dick of late. Not as smart as he thinks he is.