I just dont buy anything or go anywhere and when I do buy groceries I pinch and pinch. Pretty soon, I am considering a neighborhood coop. And canceling cable and just doing wifi. And then my only bills will be wifi, phone, taxes, insurance, and copays.
I understand your position, and your choices are appropriate, but please be aware, if everyone does this, our economy shrinks. Fewer people buying, spending less means less money in the economy, fewer jobs which means even less money in the economy.
What you are doing is sensible survival, but we need to vote for better. We need to vote for foundational fixes to our economy to make it 'worker centric' and not 'wealthy centric'.
Spending more and getting less and less will not keep the economy afloat forever.
Public needs to stop drowning in debt and send the signal to the economy. We have had enough. We will not keep buying overpriced defective cars, houses and everything else. We have reached our limit.
Until the rich start feeling the pinch on Wall Street, they will continue to ignore Main Street. Money is all they understand. Shame those playing golf on Trump's courses.
You are assuming the rich are intelligent. Certainly not the hoarders of wealth, for whome acquiring more is an addiction that can never be filled. As I said "We need to vote for foundational fixes to our economy to make it 'worker centric' and not 'wealthy centric." Like any addict, the need to be restrained. They will not willingly give up control. We must force money out of politics, and reclaim our courts. Then we can do what we have to do to create a sustainable economy without deference to the wealth hoarders.
Thank you so much for sharing your experiences, Kat Peace Fairy, and please keep us posted! I'm sure you are speaking for millions. This should be screaming headline news every day and thank you so much David for highlighting reality.
Organizing a neighborhood coop sounds brilliant! Maybe someone has a Costco membership or a way to buy wholesale. Save gas with one big trip sharing the cost of the gas instead of each person driving separately. Getting to know each other, your talents and resources, having each other's backs, finding out who needs help with what and who can help is such an absolutely wonderful thing. Maybe someone can pitch in for babysitting or helping with a home repair, or loaning a tool, or giving someone something you don't need any more but they do, maybe you can watch your favorite cable show you're giving up with someone else, maybe someone can repair clothes, maybe someone has a friend looking to hire someone, maybe you can borrow a cookbook from the public library, the list goes on and on...
Every little bit of kindness and understanding makes us stronger and less stressed. We do not have to be alone. Minneapolis reminded us of the way and showed us how we can fight back while living better and happier together.
Same here. Feel like a pirate made to walk the plank, hoping someone says that is far enough come back.
Not sure what stops inflation. I doubt there will be a reset back to affordability without a depression. History seems to be moving in that direction. Many believe WWII was triggered by the Smoot-Hawley tariffs. USA was in the Great Depression. We may be repeating that just in reverse with insane tariffs driving up the cost of everything to the point of another depression.
Charge cards have highly distorted personal financial responsibility and allowed too many to extend way beyond their means. Home prices crashing will not be enough. USA has priced itself to the point of extinction with student and car loans and mortgage and rents rising.
Thank you David for such an insightful perspective. When FDJT won in 24, my first comment was we are heading for a recession. Like a balloon with a little air space - you can squeeze a little here and there moving the air around and then one day it 🎉
While it FEELS like it is collapsing, you are right, it is a slow motion process, until we reach the 'tipping point'. the day is coming when there are too few consumers to support the industries, so they lay off more people, automate more jobs away, merge some more for 'greater efficiencies' and the process continues to accelerate.
All it will take is another 'crisis' resulting from greed and stupidity like in 2008 and the entire economy freezes again, uncertain, unwilling to hire, finding ways to not spend, ways to 'let people go' to break the system beyond a simple patch like in 2009.
AI is the big (slow moving) event, along with robotics, that will accelerate the process that has already, for decades been moving in this direction. It is just that we have seen it happening for so long, with people forced to 'change careers', get 'trained' for new jobs... that we forgot how real it is, how the new careers come with lower wages, less security, how education got more expensive...
The greedy wealth hoarding faction of the rich, are stupid and greedy, and rely on the other faction of the rich to keep the system stable, so they hoarders can keep cheating and stealing and ignoring any consequences.
Simple question to ask: What happens when you automate all the workers out of ALL the businesses (Sure some will survive, we assume, but follow the logic), who buys the products from you, or if you buy from othe businesses, who buys from your customers? Where is the source of money? Do you imagine a world where only the rich live well, with some servants (perhaps AI and Robotics) to see to their wishes and everyone else is without a job, or anything at all really, because all your companies have leeched all their money from them.
Another question to ask: Imagine you are living in the game "Monopoly". What happens AFTER someone wins?
ALL that wealth, that power to make, to create and it's entire purpose (per how companies are legally structured in the Stock market) is to pull money out of people as customers, and reduce expenses in terms of people as employees.
The Industrial revolution never stopped, it just focused on more industries and accelerated over the years. People are afraid, but since their job, their profession, career, their ability to provide, to earn is so central to their identity, nobody wants to face it and talk about it, so they talk about other things, but that doesn't mean it has no affect on them, their emotions, their choices.
AI is the big and slow moving event and I also wonder what will happen to people if there are only robots? I hope we will be more like The Jetsons and less Terminator. Yes to a Revolt but not a Revolution
They have never faced an income crisis. They are all very wealthy so they just can't identify with the common folks. And are not even listening to the problems
Thank you, David. I'm concerned that it will continue to worsen if Trump remains in office. Add to his greed the way he reacts with revenge and retribution when things don't go well for him.
Kind of like putting a fire under the frog in the pan and before the frog knows what's happening he's been boiled to death.
I just dont buy anything or go anywhere and when I do buy groceries I pinch and pinch. Pretty soon, I am considering a neighborhood coop. And canceling cable and just doing wifi. And then my only bills will be wifi, phone, taxes, insurance, and copays.
I understand your position, and your choices are appropriate, but please be aware, if everyone does this, our economy shrinks. Fewer people buying, spending less means less money in the economy, fewer jobs which means even less money in the economy.
What you are doing is sensible survival, but we need to vote for better. We need to vote for foundational fixes to our economy to make it 'worker centric' and not 'wealthy centric'.
Spending more and getting less and less will not keep the economy afloat forever.
Public needs to stop drowning in debt and send the signal to the economy. We have had enough. We will not keep buying overpriced defective cars, houses and everything else. We have reached our limit.
Until the rich start feeling the pinch on Wall Street, they will continue to ignore Main Street. Money is all they understand. Shame those playing golf on Trump's courses.
You are assuming the rich are intelligent. Certainly not the hoarders of wealth, for whome acquiring more is an addiction that can never be filled. As I said "We need to vote for foundational fixes to our economy to make it 'worker centric' and not 'wealthy centric." Like any addict, the need to be restrained. They will not willingly give up control. We must force money out of politics, and reclaim our courts. Then we can do what we have to do to create a sustainable economy without deference to the wealth hoarders.
Thank you so much for sharing your experiences, Kat Peace Fairy, and please keep us posted! I'm sure you are speaking for millions. This should be screaming headline news every day and thank you so much David for highlighting reality.
Organizing a neighborhood coop sounds brilliant! Maybe someone has a Costco membership or a way to buy wholesale. Save gas with one big trip sharing the cost of the gas instead of each person driving separately. Getting to know each other, your talents and resources, having each other's backs, finding out who needs help with what and who can help is such an absolutely wonderful thing. Maybe someone can pitch in for babysitting or helping with a home repair, or loaning a tool, or giving someone something you don't need any more but they do, maybe you can watch your favorite cable show you're giving up with someone else, maybe someone can repair clothes, maybe someone has a friend looking to hire someone, maybe you can borrow a cookbook from the public library, the list goes on and on...
Every little bit of kindness and understanding makes us stronger and less stressed. We do not have to be alone. Minneapolis reminded us of the way and showed us how we can fight back while living better and happier together.
Hang in there and keep in touch!
Same here. Feel like a pirate made to walk the plank, hoping someone says that is far enough come back.
Not sure what stops inflation. I doubt there will be a reset back to affordability without a depression. History seems to be moving in that direction. Many believe WWII was triggered by the Smoot-Hawley tariffs. USA was in the Great Depression. We may be repeating that just in reverse with insane tariffs driving up the cost of everything to the point of another depression.
Charge cards have highly distorted personal financial responsibility and allowed too many to extend way beyond their means. Home prices crashing will not be enough. USA has priced itself to the point of extinction with student and car loans and mortgage and rents rising.
Thank you David for such an insightful perspective. When FDJT won in 24, my first comment was we are heading for a recession. Like a balloon with a little air space - you can squeeze a little here and there moving the air around and then one day it 🎉
While it FEELS like it is collapsing, you are right, it is a slow motion process, until we reach the 'tipping point'. the day is coming when there are too few consumers to support the industries, so they lay off more people, automate more jobs away, merge some more for 'greater efficiencies' and the process continues to accelerate.
All it will take is another 'crisis' resulting from greed and stupidity like in 2008 and the entire economy freezes again, uncertain, unwilling to hire, finding ways to not spend, ways to 'let people go' to break the system beyond a simple patch like in 2009.
AI is the big (slow moving) event, along with robotics, that will accelerate the process that has already, for decades been moving in this direction. It is just that we have seen it happening for so long, with people forced to 'change careers', get 'trained' for new jobs... that we forgot how real it is, how the new careers come with lower wages, less security, how education got more expensive...
The greedy wealth hoarding faction of the rich, are stupid and greedy, and rely on the other faction of the rich to keep the system stable, so they hoarders can keep cheating and stealing and ignoring any consequences.
Simple question to ask: What happens when you automate all the workers out of ALL the businesses (Sure some will survive, we assume, but follow the logic), who buys the products from you, or if you buy from othe businesses, who buys from your customers? Where is the source of money? Do you imagine a world where only the rich live well, with some servants (perhaps AI and Robotics) to see to their wishes and everyone else is without a job, or anything at all really, because all your companies have leeched all their money from them.
Another question to ask: Imagine you are living in the game "Monopoly". What happens AFTER someone wins?
ALL that wealth, that power to make, to create and it's entire purpose (per how companies are legally structured in the Stock market) is to pull money out of people as customers, and reduce expenses in terms of people as employees.
The Industrial revolution never stopped, it just focused on more industries and accelerated over the years. People are afraid, but since their job, their profession, career, their ability to provide, to earn is so central to their identity, nobody wants to face it and talk about it, so they talk about other things, but that doesn't mean it has no affect on them, their emotions, their choices.
AI is the big and slow moving event and I also wonder what will happen to people if there are only robots? I hope we will be more like The Jetsons and less Terminator. Yes to a Revolt but not a Revolution
They have never faced an income crisis. They are all very wealthy so they just can't identify with the common folks. And are not even listening to the problems
Death by a thousand swipes, of our credit cards!!!
The over 6 minute video stopped at 2:54. Usually we get diagnosis, and prognosis but rarely treatment. We'll figure it out I suppose.
Great article. Very accurate summation. We are pushed to the wall. People going truly under, losing homes. Vote the bastards OUT.
Thank you, David. I'm concerned that it will continue to worsen if Trump remains in office. Add to his greed the way he reacts with revenge and retribution when things don't go well for him.