This isn't a comment about the F-35. Far be it for me, to chide in on that topic, as I know very little about it. Other than it cost more than what my entire country creates in GDP a year, which is certainly an eye opener. And here I thought we made a LOT more maple syrup. Sheesh.
It is about the Greek man. More and more I've been hearing the same tale told, about people being given X months to live, and then going outside the "system" and beating the odds.
One of those people, was Dr. Michael Greger's grandma, Frances Greger. Normal medicine had turned its back on her. She was diagnosed with end-stage heart disease and sent home in a wheelchair to die. At 65 years of age.
As Dr. Greger writes in his book "How Not to Die,"
"I think what sparks many kids to want to become doctors when they grow up, is watching a beloved relative become ill or even die. But for me, it was watching my grandmother get better."
She saw a program on TV about Nathan Pritikin on 60 minutes and his reputation for reversing terminal heart disease. He had opened a new clinic in California, and she decided to make the cross country journey to see him there. She was started on a plant based diet, and a gradual exercise program. Within 3 weeks, she was out of the wheelchair, and walking 10 miles.
In the end, she lived another 30 years.
And Dr. Michael Greger https://nutritionfacts.org a non-profit site created for dispensing (you guessed it), non-partisan information about nutrition.
I've read all his books. I for one, intend to enjoy my retirement. The way I envisioned it back 30 years ago.
Unless I get creamed by an F-35 falling out of the sky.
Oh Bill you forgot that the defense industry backed by those corrupt pollies force their supposed friends and allies into buying these absolute mirages of technical wonder and the F35 since it's first design was deemed ridiculous by the Brits & French who have since stopped any further development or construction of vertical take off albatrosses but oh how much $$$ have been wasted by so many poor allies .. and what sort of reputation or confidence would our allies have in a country that produces absolute shi* in just about every category .. we could buy the Chinese fighter or Russian for lees than a 100th of the price that US robber barons are charging the ever diligent tax payers of the USA .. when will they ever learn .. ah yes when the real fighting starts!
The 2015 report of the F-35 losing against 1970s design F-15 and F-16 jets is based on an Air Force pilot's report of a single day’s mock aerial battle between an F-16 and an F-35 that temporarily had limited maneuverability and restricted performance because it had an early version of its software package. During a training exercise in 2017 for aerial warfare, the jet killed 20 aircraft for each F-35 shot down in simulated combat.
It should be noted that the $1.7 trillion dollar cost is for the entire 66 year expected lifetime of the jet design. It is very expensive to fly, up to $ 44,000 per flight hour. The F-35 program is a mismanaged disaster, but I think in the end we will have a great fighter jet.
Maybe we could buy the Chinese version (see Jimm Roberts comment) and save some bucks, though I suspect it would have lots of "Easter eggs" in the software package!
Most people don't know that there are two iterations of F-35's: the exceptionally costly one made for the USAF and its allied air forces and the far less expensive but no less capable one made by the Chinese aerospace industry for the Communist Chinese Air Force
The Chinese clone, the production of which bypassed years and years of expensive R&D thanks to its theft of F-35 blueprints produced by Lockheed, has a greater weapons payload than the US version
And to rub salt in the wound, the USAF must now replace a Chinese alloy in existing and to be made F -35's Worse: this replacement will not make the Western version of F-35's more formidable; just marginally more expensive
"Written off" debt doesn't extinguish money, it just extinguishes the debt on one side of the ledger. The asset on the other side still floats around and permanently increases the money supply.
John Doe borrows $50k to buy a truck. Bank has note, John has truck, dealer has $50k. John defaults or dies, truck vanishes into the ether of family, friends, and shady neighbors, and bank shreds note when lawyer tells it to pound sand. Dealer didn't lose his cash.
This isn't a comment about the F-35. Far be it for me, to chide in on that topic, as I know very little about it. Other than it cost more than what my entire country creates in GDP a year, which is certainly an eye opener. And here I thought we made a LOT more maple syrup. Sheesh.
It is about the Greek man. More and more I've been hearing the same tale told, about people being given X months to live, and then going outside the "system" and beating the odds.
One of those people, was Dr. Michael Greger's grandma, Frances Greger. Normal medicine had turned its back on her. She was diagnosed with end-stage heart disease and sent home in a wheelchair to die. At 65 years of age.
As Dr. Greger writes in his book "How Not to Die,"
"I think what sparks many kids to want to become doctors when they grow up, is watching a beloved relative become ill or even die. But for me, it was watching my grandmother get better."
She saw a program on TV about Nathan Pritikin on 60 minutes and his reputation for reversing terminal heart disease. He had opened a new clinic in California, and she decided to make the cross country journey to see him there. She was started on a plant based diet, and a gradual exercise program. Within 3 weeks, she was out of the wheelchair, and walking 10 miles.
In the end, she lived another 30 years.
And Dr. Michael Greger https://nutritionfacts.org a non-profit site created for dispensing (you guessed it), non-partisan information about nutrition.
I've read all his books. I for one, intend to enjoy my retirement. The way I envisioned it back 30 years ago.
Unless I get creamed by an F-35 falling out of the sky.
Hi Luke -
"Unless I get creamed by an F-35 falling out of the sky."
That would probably be one of the Chinese versions discussed below...
https://sable.madmimi.com/c/109477?id=5567400.31955.1.3c89e6a27c66ccfd0bc98a08b6c4d04c
Trying to understand FED speak.
Thanks Worm. Really enjoyed that...
"Mouse click money"
Perfect !
A great read, writes like Bill Bonner. Thanks!
Nice post, thank you. (I wonder who reads whom first, Bill or the author of this piece?)
Hey Dave Jay. I have no idea, but I love both! I have read them both for years.
Oh Bill you forgot that the defense industry backed by those corrupt pollies force their supposed friends and allies into buying these absolute mirages of technical wonder and the F35 since it's first design was deemed ridiculous by the Brits & French who have since stopped any further development or construction of vertical take off albatrosses but oh how much $$$ have been wasted by so many poor allies .. and what sort of reputation or confidence would our allies have in a country that produces absolute shi* in just about every category .. we could buy the Chinese fighter or Russian for lees than a 100th of the price that US robber barons are charging the ever diligent tax payers of the USA .. when will they ever learn .. ah yes when the real fighting starts!
The 2015 report of the F-35 losing against 1970s design F-15 and F-16 jets is based on an Air Force pilot's report of a single day’s mock aerial battle between an F-16 and an F-35 that temporarily had limited maneuverability and restricted performance because it had an early version of its software package. During a training exercise in 2017 for aerial warfare, the jet killed 20 aircraft for each F-35 shot down in simulated combat.
It should be noted that the $1.7 trillion dollar cost is for the entire 66 year expected lifetime of the jet design. It is very expensive to fly, up to $ 44,000 per flight hour. The F-35 program is a mismanaged disaster, but I think in the end we will have a great fighter jet.
Maybe we could buy the Chinese version (see Jimm Roberts comment) and save some bucks, though I suspect it would have lots of "Easter eggs" in the software package!
Most people don't know that there are two iterations of F-35's: the exceptionally costly one made for the USAF and its allied air forces and the far less expensive but no less capable one made by the Chinese aerospace industry for the Communist Chinese Air Force
The Chinese clone, the production of which bypassed years and years of expensive R&D thanks to its theft of F-35 blueprints produced by Lockheed, has a greater weapons payload than the US version
And to rub salt in the wound, the USAF must now replace a Chinese alloy in existing and to be made F -35's Worse: this replacement will not make the Western version of F-35's more formidable; just marginally more expensive
You can buy a knockoff F-35 in China for $50 bucks, the wings are made in Taiwan!
J/K 😂
"Written off" debt doesn't extinguish money, it just extinguishes the debt on one side of the ledger. The asset on the other side still floats around and permanently increases the money supply.
John Doe borrows $50k to buy a truck. Bank has note, John has truck, dealer has $50k. John defaults or dies, truck vanishes into the ether of family, friends, and shady neighbors, and bank shreds note when lawyer tells it to pound sand. Dealer didn't lose his cash.