Wednesday, February 14, 2024

A Canary is Silent But the Fat Lady Sings


Former Ohio State quarterback Art Schlichter was arrested Friday in Columbus after a state trooper found cocaine in his car, according to court records.

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Zoom fatigue is real! When people talk face-to-face, they respond to yes-or-no questions in 297 milliseconds, on average, but this number jumps to 976 milliseconds when talking over Zoom. This imperceptible delay interferes with the neural mechanisms that govern the normal back-and-forth of human conversation, and the body’s physiological response is fatigue.

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A robotic lunar lander is scheduled to launch in the early morning hours of Wednesday. If all goes well, it will become the first American spacecraft to set down softly on the moon’s surface since the Apollo 17 moon landing in 1972.
It is also the latest private effort to send spacecraft to the moon. Earlier attempts have all ended in failure. But the company in charge of the latest effort is Intuitive Machines of Houston.

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A Canary is Silent But the Fat Lady Sings

Congressional Budget Office published its annual 10-year Budget and Economic Outlook. In a country that thinks its border is 'secure,' such information will likely be ignored. 

But...according to the CBO’s latest estimates, in 2024 the U.S. government will pass a grim and once-unimaginable milestone. The federal debt has gotten so large that spending on interest to service that debt will exceed federal spending on national defense.

In the CBO’s long-term projections, interest payments will become the largest line item in the budget—exceeding even spending on federal health care programs—sometime in the 2040s. It’s very likely that sometime between now and then, global financial markets sour on U.S. Treasury bonds as a sound investment, leading to an unprecedented and dangerous economic crisis with rising interest rates, higher inflation, and social turmoil.

Federal Interest Costs Now Exceed U.S. Defense Spending

(Estimated $ billions, 2022–2034)

Net Interest (2024 projection)

Defense (2024 projection)

2034203320322031203020292028202720262025202420232022$1,000$900$800$700$600$500$400$1,700$1,600$1,500$1,400$1,300$1,200$1,100$659$659$870$870$951$951$1,005$1,005$1,049$1,049$1,105$1,105$1,170$1,170$1,241$1,241$1,328$1,328$1,430$1,430$1,527$1,527$1,628$1,628$891$891$871$871$892$892$912$912$933$933$954$954$976$976$998$998$1,021$1,021$1,045$1,045Departure from dollar-gold peg, August 1971

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