> We need to go back to a system where there are apprentices and masters
Apprenticeships are still around in the modern day -- including for white-collar jobs! Kelly Vedi writes a lot about this in her Substack: https://kellyvedi.substack.com/
They don’t make good profits. TSMC has fairly mediocre numbers by the standard of the tech industry. Intel has really bad numbers for the last several decades. AMD was having so much trouble with foundries that they spun it off.
Bean counters/“profesional execs” have been in charge for a long time (as is usually the case when founder CEOs leave/die), middle managers are box checkers that can’t differentiate good employees from bad employees and nobody cares as long as salary&stocks are deposited in their account. All of this gets lost in the cogs of the 100k employee machine.
Interesting link: a company called Fractyl Health is studying a surgical procedure they call "Revita," that they hope can keep weight off for patients after they discontinue GLP-1s.[0]
The premise, IIUC, is that obesity is driven partly by mucosal overgrowth on the duodenum. This thicker-than-expected layer of mucus is less porous, which leads your digestive system to underestimate the number of calories you've consumed. Revita basically re-surfaces the duodenum.
So, the idea is that you get to a lower weight with the GLP-1 drugs, and then Revita can hopefully reset your set point there.
Their first clinical trial is still in progress, but I think it's interesting to watch.
Fascinatingly, the body already has a mechanism for this: fasting. One of the many beneficial side effects is rapid mucosal atrophy, decreasing villus height and crypt depth.
You can find evidence of this in the literature, but it’s absurdly understudied, because big pharma would rather sell you a subscription to life.
Fortunately there are many good people in the world, especially in the field of medicine, who want to help their patients unconditionally. So there are glimmers of hope, like some of the top cardiologists in the world going against status quo and treating patients with fasting regimes instead of surgery.
Surprised this is still in first trial. I can recall reading about something like it in 2017. Apparently clearing the duodenal mucosa is a preparatory step for a gastric band fitting, but they found patients were making improvements before the bands were being fitted so a study was started to see if this less invasive procedure might be enough by itself.
My impression (and I'm not a scientist) is that the mucosal overgrowth comes from eating an obesogenic diet. (Some combination of too much sugar / salt / wrong types of fat?)
If you get the procedure and don't go back to an obesogenic diet, then it should be permanent.
IIUC, in the future, the SS tax isn't going to cover the benefits that SS will be obliged to pay out. So some analyses model the shortfall as coming out of the government's general budget.
So, yeah, it's "separate" spending in a sense, but it's not totally in its own sandbox.
This is already the case. Social Security has been running a deficit since 2010. It's only stayed solvent because of the trust fund, which is expected to run out in around seven years. So the government is currently keeping it afloat using general budget revenue.
I got interested enough in the national debt to do some research: is there a single-issue NGO that's working on the national debt? With a platform that you could imagine a Democrat or a Republican supporting?
I found the Concord Coalition [0], and their sister organization Concord Action [1].
I haven't done enough research to endorse them, but I'm just saying: they exist and this is their issue.
IANA economist, but if there were a debt crisis, it would ultimately be about the psychology of the investors who would buy government debt. They want to be very, very confident that they will be paid back (which is why they're willing to accept a low interest rate).
If those investors are satisfied with a return to a late-80s fiscal posture, then great. But if they're worried that spending would just creep up again once the pressure is off, they might "demand" further cuts.
In particular, investors often like to see the contrast of infrastructure development (investing in future GDP), as opposed to paying day to day operating costs, retirements, interest on debt (never mind larger debt as far as the eye can see), and other creative ways to prevent future GDP. And there is very, very little infrastructure development in US budgets.
Now you're the institution
How's it feel to be the man?
It's no fun to be the man."
- Ben Folds, "The Ascent of Stan" https://www.youtube.com/watch?v=caCuRqedslY
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