If every single person in the world worked to pay off this debt, it would take 3 years of every single person on Earth working for income to pay down this debt to make it happen.
Watch this to understand poverty more https://youtu.be/faYdJYveX2w?si=0oXof96S5KtQTKHD
The economically weakest people in society suffer the most, especially with currency inflation and the rising costs of essential foods, electricity, gasoline, and rent. Used cars, used homes, the prices keep rising while wages stagnate. It makes people angry and resentful, increasing crime, hate, class division and societal decay.
My childhood best friend Matt Mayo inherited $11.5 million but ended up committing suicide on a cocaine binge by shooting himself in the head with a large caliber handgun that he procured illegally in Seattle. Years earlier he had been in a near deadly motorcycle accident that left him with deeply traumatic brain injury and physical disabilities making it impossible to work any sort of job.
He resented the rising costs of rent locally and said as much many times while we enjoy sausages and pretzels at a local German restaurant near his condo in the Nord Building in Seattle. He even decided to rent one of the disused homes he owned to Meg and I for a very nominal amount, much cheaper than our tiny apartment at the time. I often use the story of Matt Mayo as an example of how money alone does not make a life worthy of living.
I knew something was up when I spoke to him on the phone for the last time, when he said "Aaron, I feel really bad about what has happened to you in life, and I want you to take care of Meg for me, ok?, so I agreed. A few weeks later his father Rob Mayo showed up to let us know that Matt was dead. Then Rob sold the house to the former pastor of his church and forced us to move.
We moved into the overpriced Anthology T101 apartment with my mother who was dying of heart failure and lived with her, taking care of her until her death earlier this year. We then moved to a tiny home on a farm, rented from Kathy, but she asked us to leave after only 4 months.
At the last minute, Meg found a basement for rent, which is where we are now, just having moved in. I am on winter break from my job which is nice to help settle in. I spent hours troubleshooting the old Kitchen Aid dishwasher, running hot water through the drainpipe, cleaning the filters, purging the pump, checking the wiring & controls. Nothing worked. The dishwasher was broken, but when we let our landlord know about this, he immediately ordered a new one made by Samsung.
I took the old dishwasher out and gave it to the crew that delivered the new one in the box. We used the box after cutting it up to block off cold air flow from the unused natural gas insert fireplace. I had to get an appliance cord and wire nuts to hook it up, but the delivery guy told me to keep the water input pipe from the old one, so I was able to reuse it. I moved the water T under the sink from the cold input to the hot input, since the instructions said to do so. I am not sure why the old one was hooked to the cold water anyway. We have been using small electric space heater to raise the interior temperature and are considering window coverings to help block heat loss more. Its wintertime and colder outside, though the newer double pane windows seem to insulate well.
I am super excited to get settled and to get our Harvest Right home freeze-dryer online and working with the new lower noise higher efficiency vacuum pump :) I have to wait a few more days, since the move left me with many skeletal injuries, so I have to take it easy to recover physically. I did the majority of the heavy lifting to make the move happen. I have joint pain in joints that have never hurt before now, and even took an ibuprofen to help. I don't normally take anything other than vitamins and food, mostly water and black coffee or black tea. A little wine & beer sprinkled in sparingly too.
At the Davis Family Dentistry in Kirkland, Lika the hygienist did an excellent job of cleaning my teeth as she has done for more than 20 years now. Samira the dentist using her pick on my molars said the channels have some softness or stick and set up an appointment to drill and fill them early next year, in 2024. Thankfully I have dental insurance as part of my job benefits. I have never had a cavity before, so these will be my first fillings at 40 years of age incredibly.
We went Christmas gift shopping at Marshals today, and it was super busy. Now we have something to give the guests of the party we are going to at my sister's house on Christmas day. I sure hope that will be a good time and look forward to the celebration with family.
How time seems to fly faster as an adult, I still remember life seeming so slow and boring as a child. Now things seem to change faster than I can keep up with, so I blog to ease my mind and share what's happening and what I am studying and learning about, hopeful to inspire other people.
Debt in Argentina
Argentina government has gone bankrupt 9 times, more than any other modern world government. Villa 31 slum of Buenos Aires spread underneath disused decaying motorway bridges, while many thousands of locals rely on charities to survive. Just over 100 years ago Argentina was one of the five wealthiest countries in the world. With a well-educated population and abundant mineral resources, Argentina has a combination that would normally create a broad middle class, prosperity and stability. Sadly, radical income inequality in Argentian history means that elite income earners there take most of the money when times are good and move it abroad, leaving the general public and government to pay for debts created by the elite when times are bad. These cycles of abusive theft followed by burdening the government to pick up the broken pieces left behind are emblematic of why Argentina cannot escape the continual cycle of debt crises that plague its economy.
Debt in Duisburg Germany
Even in Germany, a well-developed wealthy formal economy with a strong automotive export revenue generator from the likes of VW, Audi, Porsche, and Mercedes Benz, household brand names widely recognized the world over for premium vehicles with high technology. But the working poor in Duisburg Germany for example, spend more of their limited income on fuel, electricity, and food. The rising prices of these essential goods and energy disproportionately impacts lower income earners, such that many fall into a personal debt crisis, 16% of residents on the debt register in Duisberg, more than double the rate of Munich.
While the 1980's declines in the steel industry caused major debt problems, recent low tax schemes to bring investors to Duisburg resulting in a vibrant emergent logistics hub at the end of the Northern Silk Road setup by chine, the largest inland port in the world, s development that cut local government debt in half. I am reminded of how the FEZ or free economic zones in the PRC went on to create radical manufacturing wealth!
Increasing Debt in the USA
The top 10% of income earners in America own 60-70% of the real estate and stocks, or what can be accurately as plutocracy with increasing income inequality. This means rent and real estate price inflation that makes life more expensive for all other people in America. The sleazy jerks and liars in the US Federal Government cant even make sense of what is happening as the Federal Reserve is tasked with stabilizing the economy with quantum easing, or increasing the supply of money, which makes everything more expensive via price inflation. The COVID19 Pandemic cost America a lot!
The middle class of America has been increasingly marginalized, or disappearing, from insourcing people from poor countries, outsourcing jobs to other countries, and the increasing cost of foods, gasoline, diesel, housing & life's basics make it harder and more expensive to live now. Many older people on fixed retirement incomes end up in a fiscal donut hole at the end of the year because of rising medical costs, noting that older peoples tend to require more medical care and that medical care tends to be expensive, especially in America. Now many American parents both have to work, often multiple jobs, just to keep making the payments so they don't lose their home, car, or other things. Having children actually considered a luxury nearby because of how expensive real estate and rent has become.
Meg & I both work and do not have children & feel poor despite making good money as income. This is why life quality suffers and depression rates, suicide rates, anxiety rates, social decay, school shootings & other problems exist in America now, that have no historical precedence. Many people at my workplace lament and commiserate with each other in the faculty lunch area about how things have changed for the worse in America, especially locally in King County, Washington State, where many poor skill drivers make driving more dangerous, while also increasing traffic congestion.
Money a 4th Order Derivative of Primary Energy Production
Let me explain something to you. Energy is Money! Gold takes energy to render from Earth, does not corrode, keeps its value over time, and has many uses. Energy makes vehicles move, makes it possible to live and think as metabolic fuel for the body in the form of plants and animals, seeds, nuts, fungi, etc cultivated on farms in nature somewhere and shipped in diesel trucks to grocery stores where working people buy their food energy.
If people could eat $5/gal gasoline, it would cost only $1/ day to feed an adult person. Foods are way more expensive energetically than commonly sold transportation fuels like E10 unleaded gasoline or on-road diesel fuel. Everything is made of energy or E=MC^2 #physics, so turn your brain on more & learn & share your new understanding.
Illiterate Morons in Government Offices
The jerks in power do not even understand that primary energy production is what drives economic growth, shared wealth generation and prosperity creation, just like healing fixes wounds of the body, energy fixes the economy by energizing human activity to subjugate nature to our will as people, for our benefit.
ROI on Energy Investments
What is profitable means it has a positive net energy return on investment, like oil exploration, natural gas mining, nuclear fission reactors, hydroelectric power generating dams, commercial solar PV and solar thermal power plants, things that actually make electricity and fuels make the world go around.
Without energy society grinds to a halt and we would be sent into the distant past in a way that makes life much less pleasant, much harder, and so profound that if a solar flare from the Sun knocked out global power grids worldwide, within 3 months 90% of people on Earth will be dead. We need energy for survival and to thrive. This is why man developed fire for warmth in cooler weather and to cook food, hunted animal meat rendered with sharp stones & knives later in history.
National Debt of Government
Que the 2008 Lending Debacle Real Estate Subprime Lending Scandal in the USA that sent destructive waves of fiscal ruin around the world as wake of corrupt lending practices caused old commercial financial institutions like Lehman Brothers to collapse.
2008 US Fiscal Collapse forced the US Fed Gov to buy up debt in order to stabilize the economy, which sent the stock market into a spiral downward of value loss. Millions of Americans lost their retirements as corporate raiders purchased companies to gut & strip them of any remaining value just before they were entirely destroyed, by companies like Bain & Capital.
Banks Bailed Out / US Public Sold Out
Shockingly, even lazy politically apathetic Americans took to the streets in cities all around the USA to protest, shouting "The Banks Got Bailed Out, We Got Sold Out" and similar in demonstrations of disapproval as the Fed stepped in to bail out failing banks who had engaged in unethical risky business practices, like mortgage backed derivatives and bundles of AAA rated bonds that were in reality junk actually composed of no-document variable interest rate subprime home loans given to people who could not afford the nominal rate monthly payments after the ARM payments increased.
Furthermore, the illegal fraud and other foolish nonsense that the banks engaged in with other people's money ended up destroying the lives of many normal income working people with massive layoffs, income loss, financial ruin and worse. Some people were so distraught over what was happening that they committed suicide. Yes, the 2008 Mortgage Debacle in the USA increased suicide rates all around the world.
Many of the executives of these immoral failing banks responsible for the bogus mortgage-backed derivatives and junk bonds sold as AAA rated, got golden parashoot retirement bonuses as the companies folded into bankruptcy.
Stealing from our Children's Future
National debt effectively like borrowing from our children's future income potential to pay for things now, or similar to an individual with mounting credit card debt making only the minimum monthly payments or a debt slave as the commercial banks who issue these credit cards call people who have high amounts of high interest 24% or more of revolving credit card debt.
Credit Debt Slavery
Buy now, pay later, zero interest promotional, cash back deals, swipe it and go, VISA, Mastercard electronic elastic credit spending on things that people cant really afford, that they don't really understand, actually need or really want deep down in their hearts.
Banks love debt slaves because they create interest payments that are like free revenue for the banks, so the banks executives can buy lavish homes, luxury vehicles and go on expensive vacations, keep their children in boutique private schools, pay the maid & servants to cook, clean, and do all the other things that normal working people have to do themselves since they can't afford such lavish contrivances that elite income earners consider normal.
Out of Touch with Reality
What is true for your often not true for most other people, and in part this is why many senators, people in congress, elite income earners and wealthy people in the USA become detached from the realities that general public face daily as complicated challenges, stress, anxiety, and fear of loss that creates preventable disease, food abuse, obesity, heart disease, allergies, cancer, autoimmune diseases and worse.
As the costs of life's basics keeps increasing its becoming more expensive to have children, nearby children are considered a luxury. I work for a school district just east of Seattle where real estate very stupid expensive, such that many working families can't afford to continue living in the required zip codes, and thousands of children are no longer enrolled in public school nearby. Their families were forced move away where housing is more affordable.
Real Estate & Rent Inflation
I am not sure why so many people want to live within 10 miles of lake Washington, but home and rent prices nearby are not affordable. Meg & I are dual income with no children or DINK's think that life has become stupid expensive or overpriced. I think life is a rip off or a scam because of all the immoral, unethical, unfair and unjust things happening around me. But no one escapes their final judgment when the soul stands before God. No one can keep anything secrete from God, God knows everything about everything and cannot be fooled or tricked.
Failing Fiat Currencies
Take the USD or United States Dollar, a Fiat Currency. Measured by GDP the USA has the largest wealthiest economy in the world, but the US National Debt also increasing at an alarming rate.
Fiat currencies have a major problem known as progressive loss of value or what can easily devolve into hyperinflation. Renumeration happens when the currency loses so much value that the state does a buy back of the old currency to issue a new currency, as Mexico did in 1980 with the New Pesso.
Government Sets Bad Examples
If financial planners suggest that individuals stay away from debt, then why do governments set a bad example by not being fiscally responsible? Said in another way, Government has an infinite ability to create new forms of taxation. This is the major reason that I hate most world governments just as much as fraud, scams and other crimes, and consider them all similar or evil. How can the governments continue to debt spend while expecting the public not to do the same thing?
I smell corruption, hypocrisy, plutocracy, crony capitalism, increasing income inequality and other forms of societal decay from individual levels to institutional levels at all scales. Turning a blind eye to the suffering of nature, people, ecosystems, animals, the food web, biosphere, Earth, environmental health, public health, while increasing health care costs, governments often protect polluting businesses that effectively bribe government officials into office by paying for their election campaigns in exchange for greater representation.
Sick Evil Immoral Waste
Look at how the US Pentagon spends money wastefully, and operates with a near zero fiscal efficiency, spending money on non-sense that is wasteful, harmful & worse. This is also why Amazon has 1151 lobbyists in Washington DC, to help the law-making processes to reflect the business interests of the world's most profitable e-commerce website with so many people like me sporting Prime subscriptions for content streaming & free fast shipping on Amazon.com :)
Watch this YouTube video by DW News in Germany about National Debt
https://youtu.be/0coUiuG5gG4?si=KqKNZWXmkOs3Y9kz
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