Endgame
I've been astounded by the changes occuring in the economic world of late - $120/bbl oil, grain prices tripling on demand and claims of ethanol/bidiesel stealing land for food, the housing bubble burst, airlines trying to merge multibillion dollar losses into multimultibillion dollar losses for magic profit and of course the freefall U.S. dollar.
A pessimist would have to think the end is near, and yet for me, a pessimist at heart, I've got a steady job, and doing quite well. I've got my mortgage paid off. I've not owned a car for 3 years and can get by quite well day-to-day on bus, bike, and my two feet. Let my property fall to half its value (or same difference via inflation, devalued dollar). Let gasoline go to $6/gallon. Doesn't much hurt me. Keeping my job is the only fear, and so far so good.
My fears are less built on my personal risk, but the collective failure to admit our future risks. The senseless pandering to voters for "gasoline tax holidays" as if $0.18/gallon cut will do anything more than raise gasoline demand and give more money to oil companies, not that I have anything against oil companies. They're going to need their profits to keep U.S. oil production from plummeting even faster than already. Granted, I know much of oil profits simply go to stockholders, rather than investing in the future of the oil industry.
I can't decide if I should remain hopeless that political solutions exist that can make a difference. I think it is dangerous for the government to make any promises to citizens about protecting their future. Where in the constitution does it say that gasoline should cost $0.99/gallon, or that roads can be built without taxes?
I can't see any future that doesn't have hyperinflation of the U.S. dollar. There's no longer even anything for the most deluded souls to grab onto, to explain how we'll dig our way out. I mean the only role left for the Federal reserve now is to delay for the longest time possible the public awareness of inflation that is stealing wealth from those who saved, and stealing the American dream to the middle class. I came to this conclusion hearing about the latest Fed rate cut - the mere belief in inflation is a CAUSE for future inflation.
It's annoying, living partially in the light of reality, to try to imagine what's a person to do? I say paying off debt sooner than later is good, even if interest payments are below inflation, since you never know what income you'll have in the future. Live simply, invest in things that reduce your need for future income. Easy to say for a single college educated adult, harder for those with low wages and children and morgages and car payments and impossible dreams of a goodlife always 3 steps away from you.
Perhaps we'd be better off if we RAISED the gasoline tax, and lowered the alcohol tax. Let people drink their way into oblivion. Well, do it at home as well, so they'll stay off the roads of course.
This is a presidential year, and so I had some hope for good debate, but no presidential candidates can't tell the truth. Obama does well - got my vote, but he still has to be given a chance to speak about the "real issues". He gets knocked down for being elitist for recognizing there's many people outside political power or hope who hold up their self-worth through racism and symbols of powers like guns.
And being of the "elite" by affluence, even if not ambition or responsibility, I can't understand those lives either. I mean not fairly. What do you tell people who are at the bottom - that the "good life" is not for them, that entitlements of cheap transportation are gone, the future wealth of the country will continue to be swept up by a minority, ever steeper concentrations?
What do you tell them?!
A pessimist would have to think the end is near, and yet for me, a pessimist at heart, I've got a steady job, and doing quite well. I've got my mortgage paid off. I've not owned a car for 3 years and can get by quite well day-to-day on bus, bike, and my two feet. Let my property fall to half its value (or same difference via inflation, devalued dollar). Let gasoline go to $6/gallon. Doesn't much hurt me. Keeping my job is the only fear, and so far so good.
My fears are less built on my personal risk, but the collective failure to admit our future risks. The senseless pandering to voters for "gasoline tax holidays" as if $0.18/gallon cut will do anything more than raise gasoline demand and give more money to oil companies, not that I have anything against oil companies. They're going to need their profits to keep U.S. oil production from plummeting even faster than already. Granted, I know much of oil profits simply go to stockholders, rather than investing in the future of the oil industry.
I can't decide if I should remain hopeless that political solutions exist that can make a difference. I think it is dangerous for the government to make any promises to citizens about protecting their future. Where in the constitution does it say that gasoline should cost $0.99/gallon, or that roads can be built without taxes?
I can't see any future that doesn't have hyperinflation of the U.S. dollar. There's no longer even anything for the most deluded souls to grab onto, to explain how we'll dig our way out. I mean the only role left for the Federal reserve now is to delay for the longest time possible the public awareness of inflation that is stealing wealth from those who saved, and stealing the American dream to the middle class. I came to this conclusion hearing about the latest Fed rate cut - the mere belief in inflation is a CAUSE for future inflation.
It's annoying, living partially in the light of reality, to try to imagine what's a person to do? I say paying off debt sooner than later is good, even if interest payments are below inflation, since you never know what income you'll have in the future. Live simply, invest in things that reduce your need for future income. Easy to say for a single college educated adult, harder for those with low wages and children and morgages and car payments and impossible dreams of a goodlife always 3 steps away from you.
Perhaps we'd be better off if we RAISED the gasoline tax, and lowered the alcohol tax. Let people drink their way into oblivion. Well, do it at home as well, so they'll stay off the roads of course.
This is a presidential year, and so I had some hope for good debate, but no presidential candidates can't tell the truth. Obama does well - got my vote, but he still has to be given a chance to speak about the "real issues". He gets knocked down for being elitist for recognizing there's many people outside political power or hope who hold up their self-worth through racism and symbols of powers like guns.
And being of the "elite" by affluence, even if not ambition or responsibility, I can't understand those lives either. I mean not fairly. What do you tell people who are at the bottom - that the "good life" is not for them, that entitlements of cheap transportation are gone, the future wealth of the country will continue to be swept up by a minority, ever steeper concentrations?
What do you tell them?!
posted by Ares Olympus at 1:13 PM
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