This has been a crazy week, but I was wanting to bring up a bit of a discussion topic. Lately, I have been thinking about inflation and debt. When I went to Costco, I had noticed that the protein powder I usually buy was $2 more expensive than it was a month ago. Maybe about a 7% price increase. I've also noticed that the prices in the cryptocurrency markets have been rising rather dramatically lately. Sure, this happens under normal circumstances too, as cryptocurrency ebbs and flows in popularity (far less fluidly ever since cryptocurrency futures started picking up steam back in 2018, a topic for another day), and this may be mostly due to bitcoin's recent halving, but that event was in May and seemed to reach a ceiling after the price increased by roughly 150% (from a low of just below $4,000 in March, to a high just under $10,000 around the end of May). All of June saw stable prices after a slight contraction, suggesting that the halving had profit takers and the effect was mostly complete.
I don't mean to make this a post about cryptocurrency, but I was just thinking about what these price increases that I've witnessed over the past week or two might be related to. I think the prime suspect is the end of the government Covid stimulus bill. Not necessarily that the stimulus is ending, but the fact that the money from the bill is largely out in public hands at this time. I believe that we may be seeing the first signs of inflation setting in. At the same time, I recognize that our country's deficit is, thus far, going to be roughly 3 years worth of debt, and more stimulus is expected to be printed and delivered. Even on the low end, that second bill seems like it will add an additional year's worth of debt to our deficit, making our total annual budget should be roughly $8.5-9 trillion, while our revenue is only about $3 trillion. That's a 200% deficit to revenue ratio, we're spending 3x the amount of money we take in.
All of this is really just filler details for me to ask the question, what is debt? I watched a lot of anime in college and I always remember this one show where people could gamble with loans that they took from a bank, using their futures as collateral. As more money was printed, their futures became poorer. As they went bankrupt, their futures were destroyed. To increase the impact, any parts of their lives that symbolized their futures were torn away from them. They would be poor, all signs of wealth, such as homes and furniture, would disappear, and, if they had kids, it would be as if their kids were never born. The despair from it inevitably led to suicide.
I do not think that I will ever forget that show, or the lesson it taught me about debt, and gambling with your future. In that situation, the main characters ended up defeating the bank by hyperinflating their currency to worthlessness. It seemed imply that the bank "liquidated its assets" by being run bankrupt, as peoples futures became hopeful again, and, ironically for our current situation, the USD became the common currency of the land. From this, I think about how debt really hurts society, how it damages our future, and inflates our currency to worthlessness. Then I realized, history has shown us how the end of one currency can lead to a renewal in history before, but it wasn't a good one. Germany's currency was hyperinflated beyond recognition after World War 1, when the country abandoned their people to pay off the damages for the war. After the country's currency became worthless, a crazy new leader came to power, abandoned the old currency and government, and declared Germany to be a new country. In a way, this revitalized the country, leading them to become powerful enough to nearly take over the first world. However, history tells the tale of the high price that came attached to that, and leaves a bitter memory of the destruction and horrors that followed.
When a country's future is gambled away, it can lead to a weakness that can enable the maddest of minds to gain power. Any healing that is done can be used for evil purposes. Who knows what atrocities could follow other such events in the future. The way I see it, taking away the future of people teaches them anger and dismantles their compassion, as they cannot afford the luxury of it when they struggle to fend for themselves alone. I never want to see such a thing occur to any people again. This is why I am passionate about ending government debt. This debt is a gamble against the futures of the people of the country. Inflation already steals our successes to wither them away to nothing, over time. Let us not crush ourselves under the weight of debt on top of this.
This was a bit of a ramble. It is late and I am exhausted from a very long week. But I felt like sharing my thoughts because I fear the US is trading our futures for a lesser burden today. A burden that was largely self-created. The lockdowns and destruction of the US economy has destroyed the lives of many, the debt of the people is rising at ever accelerating rates, people are out of work, more businesses have permanently been shut down than ever before in such a short time frame, and all at no fault of their own. The morale of our country is at an all-time low, and I worry this could have a lasting effect on the psychology of our people.
Anyhow, I am very curious what everyone else thinks about the idea of debt being a gamble against ones own future? Sure, debt can earn massive gains, sometimes, but in a business that makes no financial gains, such as government, I see very few ways in which it cannot. Perhaps a few cases of military defense, or excess diplomacy costs that are conducted to prevent war or create new paths to trade partnership, but that is perhaps all that I could see bringing in a benefit that isn't trading away tomorrow for today. Leave your comments below. I look forward to everyone's thoughts!
Just thought I'd share this comment I was trying to comment on a Lotus Eaters video. Btw, ya'll should follow the Podcast of the Lotus Eaters if you aren't already. Great analysis and discussion
It's been a while since I've made a video, and this time with a locals exclusive. A cherry on top that I managed to fit within the size requirements. I like making shorter form content like this, considering my tendencies to ramble. Having content exclusive for my followers here is something I'll be working on doing more and more. I'll be creating more value here for my subscribers as well, with some subscriber exclusive content in the future. No timeline promises, cause I think we know how I get when I make a ton of promises (go hardcore for a week and then fall flat on my face unable to keep up with the sprint, lol).
Anyhow, let me know your thoughts and questions below. Have a great day everyone!
A direct upload! It turns out I recorded a video just short enough to meet the minimum upload offerings that locals offers to small communities like mine. That means you guys get this exclusively on locals!
I didn't sleep much last night, so I decided this was the perfect time to mull over my confused thoughts on how businesses are viewed from a legal perspective. Businesses are somewhat legal enigmas to me. Corporations are kinda treated as persons so that they can be double taxed, but have other protections, other types of businesses aren't treated the same way. They're able to consolidate power like governments, yet aren't subject to any form of limitations in regards to violating natural rights the same way the government is, despite being treated somewhat like persons they can still buy each other. It's just very odd to me from a principled, legal, and philosophical position.
Anyhow, my ramblings here are just that, ramblings. Still, I am curious what you all think of this topic. ...
The 2020 election is over, and the battle has just begun. What do I expect to come from the end of the election? Will the legal suits turn over anything for this election, or will they mean something for later down the line? I reflect on these questions and more in this discussion, and I also reflect on some final thoughts relevant to the Rise and Fall of Empire Series, that, thus far, being episodes 8 through 10 of the Construct Cast. Let me know your thoughts, and if you have any reflections of your own from this year's political cycle or other developments that you can't seem to get off your mind in the comments below.
In this episode of the Construct Cast, I discuss my analysis of Sir John Glubb's The Fate of Empires and Search for Survival, with an emphasis on my own consideration for what it would take to help an empire survive, or reboot. If immortality for an Empire is impossible, is rebirth impossible in the same way? Let me know your thoughts in the comments below.
Editor's Note: Returning to the podcast versions of the Construct Cast, I want to catch our content up to the videos we have had released over the past month. I apologize for this getting away from me for a bit. With the rise in content production, I had allowed this to get away from me. We will be returning to audio podcast uploads of the Construct Cast as per our original regular schedule, at 12PM EST on the day of the original upload, going forward.
In this second Crossover podcast, we are once again recording with Kevin @Eng_Politics. His channel is a bastion of political thought and analysis from the perspective of a conservative engineer. Interested in diving deeper into my concept of Progressive Traditionalism and combating the concept with his own beliefs of what it means to be Conservative, we decided to put our definitions and beliefs to task in this crossover episode!
Be sure to check out Kevin's locals community here:
And if you're more interested in the video version, here is a direct link:
As someone who works with daily reporting to the Fed, big companies dealing with regulation are basically a clusterfuck and the requirements basically leave the companies in a position where they can never really update their systems because they need their systems literally every day. They can make new systems, potentially, but updating the regular system is more of a liability since missing a single day can screw the company up. At the same time, it seems like the big companies, at least the one I'm in, are mostly carried forward by the inertia of their own weight. I am fully convinced there will be another massive financial crisis if other major banks are like mine, just cause there really isn't anything that can be done if something is messed up. It's like fake it til you make it, only in reverse. Once something goes wrong, the requirements for constant regular action leaves no time to go back to correct the damage. All you can do is mitigate. Like debt gaining interest, eventually ...
Does anyone have any advice for the work, life, content creator balance? I just genuinely have not had the spirit in me to be able to create the content I want to be able to create these past few months as I am just feeling totally worn out day in and out. I'd like to get back into the philosophic deep dives and contemplations you followed me for, yet that's feeling like a lifetime ago now and every day feels like a step away from where and what I'm supposed to be doing
My locals app is finally working again. Been sick lately. Started considering the differences between corruption and evil. I decided to look at it from a moral framework and came up with a new perspective on how to define the 2 from a moral standpoint. A corrupt person will defy their morals to achieve their goals, whereas an evil person will determine their morals based on whatever ends satisfy or help to achieve their goals. In this way, you can see that a corrupt person may acknowledge when they are doing something morally wrong and feel guilt over it, whereas an evil person will determine that all who oppose them are the true evil threat and could even assess their own will as being justice.
Just a little thought that's been running through my mind lately. And it's interesting because it really makes you wonder which is worse? One who will defy morals or one who will redefine them? Perhaps they both have the same end result, but do they both have the ability to find redemption? I ...
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