Is financial turmoil hair-triggered?

Response to a J.W. 4–19–21 story: ‘The Old, Sensible Ways of Building Wealth Are Dead’

Can a designer credit economy work in the US?

I heard dogecoin made it to 32 recently if the avg. peep bought about 31.25K dogecoins (which probably the avg. peep doesn’t have $31.25K laying around) then yippee, that peep could be a dogecoin millionaire, from an ephemerally valued currency apparently originally created as a joke coin to play with. Hmm, if that’s what happened? There, you are a millionaire, you did it, or doged it. <rimshot>

So much recent financial angst. The first chart on the J.W. story kind of brings home the fear factor, that is future economic survival will not even be close to past economic survival. And that was just the males!

Our current capitalist system appears to aid this situation using contractual law as designed by contractors for any product or service in our economy, by influencing gov. legislation from the local to the federal government. That is yes, elected officials creating laws for a country to live by, but those laws are really crafted legislation from/for the highest contract bidder. Our capitalist economy is showing failure and that can play out in full at any time as soon as peeps act radically on their fears for survival.

Capitalism as it is now as opposed to as yet any other legally designed credit economy is buttressed by fears of survivability in the current scrum of personal capital wealth acquisition. So whether peeps have faith in themselves, the current ephemeral fiat US Dollar, or any style of future ephemeral dogecoin (blockchain) currency, fear has to disappear in the peep’s mind to continue working for a stable survival plan under any government economic scheme.

Currently, the individual fears using the capitalist method are manifested by the inability to acquire enough capital wealth in US $ for survival. The perceived wealth is the available (fiat) currency which is now over 50% controlled, possibly by less than 25 v-e-r-y wealthy individuals in a population of about 320,000,000. The average person believes in capitalism (again, as a fear response) cause it hasn’t absolutely crashed to 0 value usefulness as yet, but easily could if radical fear behaviors overtake other reasonings.

I have to believe that there is little support for a governmental credit-designed economy with policies for 1st causes like shelter, food, and usable available medical knowledge from those currently on top of our wealth accumulation fiat currency economy, or the US economic system, Duh. Why would they? These controllers of wealth might like the idea of further education, but only in the sense of peeps that can enhance productivity to further the wealth acquisition strategy under our current capitalist system.

The rest of 99.9n%’ers are living in fear for their futures, and yet the current government apparatus is a lobbied enterprise, as stated (IMO) above, so instituting differently enabled radical changes in US economic systems reform seems necessary by many of us 99’ers, but again, not by the controllers of wealth. Apparently, we must trust current leadership to creep us onto a fairer path for the realistic future survival of the 99’ers.

Hindsight is 20–20 is an old adage. Let’s look a one more recent set of current events. I’ll also cop a devilish advocacy attitude. The official fed min wage did not increase across states. Of course, much mumbling rose to the surface about this, mostly from so-called center-left folks. Also, there was an apparent sudden change-up on the number of immigrants allowed by current leadership (crazy like a fox?) to enter the country, again much mumbling presumedly by so-called center-left folks seeking an increase. In the US the past several years, C-19 pandemic or not, the central bank has been buying (somewhat rabidly) anything to stabilize money supplies for investors from overnight lending to long-term bonds among other Fed tools keeping a stable economy. Officially from government reporting, we believe that X$ buys a loaf of bread, within our system, so we live to live another day. But should X$ increase substantially, suddenly even by perceived value, fear is the quick response, or in other words without our belief in that affordable X$ buys a loaf of bread, (or anything for that matter), suddenly we could all find work with wheel barrels ‘towing the mark’ as it were, remembering Germany in the 1920s. So short-term fears abate as long as goods and services like obtaining a loaf of bread don’t get too high. Therefore, I could say that holding the line on the fed’s min wage, plus the influx of higher numbers of immigrants, indirectly keeps the perceived value of the US dollar reasonably stable, plus, this means a bunch of new and future workforce currently at $7-$8 min wage. Exploitive-capitalism? Yes and yes. But if leadership sees slow change OR rampant capitalism as a way through our current hair-trigger financial fubar, and picks the former, well, do we have faith in slow change? Remember if allowed, under the current economic system in the future automation will eat even more jobs than it has (including agri-business operational jobs) already eaten. Are we all ready to go out and pick the proverbial agri-business products for $8 / hr among other employment?

I can tell peeps this: radical reactionary change is v-e-r-y v-e-r-y O-U-C-H-Y! But whatever peeps are going to believe in for their future survival, we will of course see in the fullness of time.