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I mean, the entire concept of "spy balloon over the continental US in the 21st century" could be considered a litmus test for critical thinking.

A country with satellites is running a Wile E. Coyote tier balloon plot?

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Yes, and if you think it's not feasible, you failed the critical thinking test. Balloons have the ability to observe signals that satellites do not. It's that simple.

While being incredibly obvious and easy (and justified) to shoot down, as we saw.

But enlighten me. What critical signals intelligence was that balloon getting?

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