WHAT SAVINGS? 2
Yesterday I wondered if the uptake in media darling articles on seniors needing to save more money for retirement had any meaning. Was it just regurgitating articles, last decades scare mongering, for filler or were they trying to push the brainwashed wallets back into the stock market bubble? On one hand, idiocy reigns and on the other the elites butt boys have been pulling our strings forever. I chose to go with social engineering even if there is a good chance it is all just rudderless floundering.
Not because it made more sense but because if nobody is steering the ship we run aground sooner and as much spiritual energy as I’ve put into preparedness, at this point I’d prefer a few more years of serenity if possible ( picture the primal screech of George’s dad imploring the heavens for Serenity Now ). On the one hand I want the chance to return to a natural state of being a warrior, to test one’s mettle as it were, and on the other I just want to sit on my recliner and read a good book. After eating a filling meal only possible through industrial meat production.
Just as in the ethanol fuel hype which saw the subsidy bill pass and remain law, a taxpayer welfare payment to the Big-Ag companies, and just as the media pimped for the InterWeb companies during the Tech Wreck ( broke stockholder paid national fiber optic infrastructure build-more free infrastructure businesses use ), just as the media blew up unrealistic expectations of Forever Appreciating Home Prices, and just as hype lead by Fracking Fags paid for uneconomic oil extraction, so too perhaps the media has gone along and tried to squeeze the last wooden nickel out of the last of the middle class to keep the stock market bubble inflated just a bit longer.
Of course, not all media produced frenzies pay social dividends. Musk and his Free Energy Transportation Company ( Tesla was developing wireless power TRANSMITION, tinfoil hat wearers. Not GENERATION ) is going to make one guys millions if not billions, but it won’t subsidize an industry. The Shrub Team was pretty big on the Hydrogen Miracle Economy. You know when the Prez pimps for a bubble there has to be far reaching collusion. That never went anywhere. File that with the Water Carburetor.
The last gullible imbecile subsidized bubble that helped everyone was the Fracking Gas/Oil one. It is negative EROI, but just like ethanol as much harm as it has done it did kick the can down the road. Without the two we would have something like a third less liquid fuel usage. And liquid fuel IS energy in a modern society, NOT electric which is already running on failure mode. Infrastructure collapse will get us before a solar flare will.
And I don’t think that the Last Savings Squeeze is going to be successful either. It seems that, really, while 2008 might have been the New 1929, it all went to crap around 2011 or so. Since then, trends are converging and all systems are failing. Our militaries effectiveness went WAY down, and that isn’t a very high bar. The central bank is having less effect ( probably by virtue of being out of old ideas that still work ). The media is so ineffective ( with the exception of the sex scandal news, which they had to perfect since Bill Cosby didn’t set the example-and why would it have? Everybody loves Cosby. A HollyWeird producer, on the other hand… ) with their recycled BS that they have reached diminishing returns long ago.
We all know that the reason nobody can save any more. Crap costs LOTS more money. And our pay has been stagnant for forty years, if not fifty. I was just reading a Fear Porn article on that, and even they were far too optimistic. Since the early 70’s ( and that was probably massaged numbers-it might go back to the late 60’s ), it wanted us to believe that as a percentage of income housing and college as gone up 70% and medical 100%. WHAT??? Your dimpled white ass. It has gone up far more than that.
Wait!, you bleat, the money in the system has stayed the same even if all the money was transferred to the 1% from the middle class, so the averages stay constant. I reply, no. Think about the oil wealth that the PetroDollar produced. We created debt, a foreign country bought that debt to buy oil. We got physical commodities for the public debt the taxpayers pay interest on, and all those profits flowed to the financial sector ( which had taken over from the old factory system as the premier profit center ).
The actual increased wealth is all with the 1% ( and more, as the wealth from the lower classes has been drained off ). Which was overseas wealth. The actual amount of wealth increased which all stayed with the elite. That radically skews the average wage. So you can’t say the average income is $60k, or whatever, because the 1% hold most of that. If there is a population of two, and one guy is a millionaire and the other makes a dollar a year, the AVERAGE wage is $500k. No, Virginia, the regular worker makes far less than claimed, and so for him the cost of college or a home is proportionately higher.
My food budget might “only” have doubled, but I’m not eating the same high animal protein high fruit low carb diet now as I was then. To say nothing of the food being GMO now. Amongst other abominations. Looking around, even in California, I could find $40k homes in the 80’s, easy. And now the junk in the ghetto starts at four hundred? Even adjusting for inflation, the claim of only a 70% increase is blatant crap. And don’t even get me started on medical cost inflation. No, the cost of living is insane and has eaten away far more than just the first, AND second paycheck. There is simply no leftovers for savings.
So how much can be expected to be panic deposited into the stock market? Surely not enough to make a difference. Bubble, meet pin.
END ( today's related link http://amzn.to/2iVde0Q )
* By the by, all my writing is copyrighted. For the obtuse out there
'bubble meet pin'.ReplyDelete
@ 15 years ago daughter opened a savings account with 5$ which the bank lady assured us was enough.
next month she put in another 5$.
we didn't open the first statement, suspecting no wrongdoing, but opened the second to find that, not only was there no 10$ in her account but the bank was billing her for 10$ in 'fees' of some sort.
went straight to the bank lady. we only got 5$ back and were blessed to get that.
daughter keeps any spare in her sock drawer now. it is safe from the corporate thieves.
if you steal 5$ every month from how many unsuspecting teens you get a pretty good amount of cash overall.
they are way lower than a snake's belly.
I force myself to keep money in the bank. I hate it, but ALL my cash buried is asking for trouble. I don't know how, but I do know that no matter how seemingly perfect, only one plan ends in trouble. I do hate the bastard pukes myself, more so since I seemingly need their help ( another consideration-I can't get paid for my writing without a bank account ).Delete
I have multiple bank accounts (along with silver, and other important metals and supplies). I recently received a letter from the bank telling me they were turning off the ATM cards for a couple of accounts since they were not being used enough! We kept the minimum balance, and a minimal amount of activity going through it and direct deposits going in (my employer allows me to split my direct deposit paychecks to up to a half dozen accounts without an issue). Of course the POINT of having the accounts was so that I could witdrawl more from an atm than any one card would allow in an emergency (I had a breakdown once while out of state that I could get fixed for a little more than a thousand dollars cash, or 3 times that credit or check - and had to wait 4 days to get back on the road because I could only pull $200 out at a time.) and of course traveling with very much cash is just asking for it to be taken by 'asset forfeiture' AKA legalized highway banditry.Delete
And I would imagine that Travelers Checks would just be considered more assets to forfeiture ( I agree with you on the danger there ).Delete