3 ms·

Tech at the moment sure, but there's nothing that stops the geographical location from shifting. There are skilled IT people around the world, there just aren't

by spurgu 4y ago

Tech at the moment sure, but there's nothing that stops the geographical location from shifting. There are skilled IT people around the world, there just aren't that many tech hubs like Silicon Valley. Finance? Remind me again how much debt the US has and how close it was to defaulting last year (saved by being forced to raise the debt ceiling yet again)? Things aren't looking much better right now.

bogomipz 4y ago
>"Tech at the moment sure, but there's nothing that stops the geographical location from shifting. There are skilled IT people around the world, there just aren't that many tech hubs like Silicon Valley." Except that tech in the US is also NYC, Seattle, Austin and Boston too. It outgrew the SV hub years ago now. Those locations are the results of location shifting. >"Finance? Remind me again how much debt the US has and how close it was to defaulting last year (saved by being forced to raise the debt ceiling yet again)? Things aren't looking much better right now." "Finance" is used to describe the industry of and around investment banking. It is very different and distinct from the context of the US Treasury which you seem to be conflating. Further the US was never even close to actually defaulting on its debt last year. What happened in October was a bit of political theater around something known as the "debt ceiling." This is simply the agreed upon amount that congress says the US can have outstanding. This is very different from sovereign defaults that result from not having the means to pay. There is a primer here [1]. It's also unclear what you mean by "Things aren't looking much better right now." Despite experiencing the same stubborn inflation as the rest of the globe, the US has had something of a miracle recovery since the beginning of the pandemic. The unemployment rate as of May was 3.6% which is about what it was before the pandemic. There's been many other bright spots as well [2]. [1] https://www.investopedia.com/terms/d/debt-ceiling.asp https://www.investopedia.com/terms/d/debt-ceiling.asp [2] https://www.thebalance.com/how-is-the-economy-doing-3306046 https://www.thebalance.com/how-is-the-economy-doing-3306046
MomoXenosaga 4y ago
Obviously which is why smart countries diversify and constantly adapt to changing circumstances. The real capital of a nation is its people.

by spurgu 4y ago

bogomipz 4y ago

>"Tech at the moment sure, but there's nothing that stops the geographical location from shifting. There are skilled IT people around the world, there just aren't that many tech hubs like Silicon Valley." Except that tech in the US is also NYC, Seattle, Austin and Boston too. It outgrew the SV hub years ago now. Those locations are the results of location shifting. >"Finance? Remind me again how much debt the US has and how close it was to defaulting last year (saved by being forced to raise the debt ceiling yet again)? Things aren't looking much better right now." "Finance" is used to describe the industry of and around investment banking. It is very different and distinct from the context of the US Treasury which you seem to be conflating. Further the US was never even close to actually defaulting on its debt last year. What happened in October was a bit of political theater around something known as the "debt ceiling." This is simply the agreed upon amount that congress says the US can have outstanding. This is very different from sovereign defaults that result from not having the means to pay. There is a primer here [1]. It's also unclear what you mean by "Things aren't looking much better right now." Despite experiencing the same stubborn inflation as the rest of the globe, the US has had something of a miracle recovery since the beginning of the pandemic. The unemployment rate as of May was 3.6% which is about what it was before the pandemic. There's been many other bright spots as well [2]. [1] https://www.investopedia.com/terms/d/debt-ceiling.asp https://www.investopedia.com/terms/d/debt-ceiling.asp [2] https://www.thebalance.com/how-is-the-economy-doing-3306046 https://www.thebalance.com/how-is-the-economy-doing-3306046

MomoXenosaga 4y ago

Obviously which is why smart countries diversify and constantly adapt to changing circumstances. The real capital of a nation is its people.