Posts Tagged ‘Outrage’

With each successive election cycle, I become more cynical (how is that even possible?) about the candidates and their supposed earnest mission to actually serve the public interest. The last couple cycles have produced a new meme that attempts to shift blame for poor governance to the masses: the low-information voter. Ironically, considering the fact that airwaves, magazines, books, public addresses, online venues, and even dinner conversations (such as they still exist if diners aren’t face-planted in their screens) are positively awash in political commentary and pointless debate and strategizing, there is no lack of information available. However, being buried under a déluge of information is akin to a defense attorney hiding damning discovery in an ocean of irrelevance, so I have some sympathy for voters who are thwarted in attempts to make even modestly informed decisions about political issues.

Multiply this basic relationship across many facets of ordinary life and the end result is the low-information citizen (also low-information consumer). Some parties (largely sellers of things, including ideas) possess a profusion of information, whereas useful, actionable information is hidden from the citizen/consumer by an information avalanche. For example, onerous terms of an insurance contract, debt instrument, liability waiver, or even routine license agreement are almost never read prior to signing or otherwise consenting; the acronym tl;dr (stands for “too long; didn’t read”) applies. In other situations, information is withheld entirely, such as pricing comparisons one might undertake if high-pressure sales tactics were not deployed to force potential buyers in decisions right here, right now, dammit! Or citizens are disempowered from exercising any critical judgment by erecting secrecy around a subject, national security being the utility excuse for everything the government doesn’t want people to know.

Add to this the concerted effort (plain enough to see if one bothers to look) to keep the population uneducated, without options and alternatives, scrambling just to get through the day/week/month (handily blocking information gathering), and thus trapped in a condition of low information. Such downward pressure (survival pressure, one might say when considering the burgeoning homeless population) is affecting a greater portion of the population than ever. The American Dream that energized and buoyed the lives of many generations of people (including immigrants) has morphed into the American Nightmare. Weirdly, the immigrant influx has not abated but rather intensified. However, I consider most of those folks (political, economic, and ecological) refugees, not immigrants.

So those are the options available to powers players, where knowledge is power: (1) withhold information, (2) if information can’t be withheld, then bury it as a proverbial needle in a haystack, and (3) render a large percentage of the public unable to process and evaluate information by keeping them undereducated. Oh, here’s another: (4) produce a mountain of mis- and disinformation that bewilders everyone. This last one is arguably the same as (2) except that the intent is propaganda or psyop. One could also argue that miseducating the public (e.g., various grievance studies blown into critical race theory now being taught throughout the educational system) is the same as undereducating. Again, intent matters. Turning someone’s head and radicalizing them with a highly specialized toolkit (mostly rhetorical) for destabilizing social relations is tantamount to making them completely deranged (if not merely bewildered).

These are elements of the ongoing epistemological crisis I’ve been observing for some time now, with the side effect of a quick descent into social madness being used to justify authoritarian (read: fascist) concentration of power and rollback of individual rights and freedoms. The trending term sensemaking also applies, referring to reality checks needed to keep oneself aligned with truth, which is not the same as consensus. Groups are forming up precisely for that purpose, centered on evidentiary rigor as well as skepticism toward the obvious disinformation issuing from government agencies and journalists who shape information according to rather transparent brazen agendas. I won’t point to any particular trusted source but instead recommend everyone do their best (no passivity!) to keep their wits about them and think for themselves. Not an easy task when the information environment is so thoroughly polluted — one might even say weaponized — that it requires special workarounds to navigate effectively.

Guy McPherson used to say in his presentations that we’re all born into bondage, meaning that there is no escape from Western civilization and its imperatives, including especially participation in the money economy. The oblique reference to chattel slavery is clumsy, perhaps, but the point is nonetheless clear. For all but a very few, civilization functions like Tolkien’s One Ring, bringing everyone ineluctably under its dominion. Enlightenment cheerleaders celebrate that circumstance and the undisputed material and technological (same thing, really) bounties of the industrial age, but Counter-Enlightenment thinkers recognize reasons for profound discontent. Having blogged at intervals about the emerging Counter-Enlightenment and what’s missing from modern technocratic society, my gnawing guilt by virtue of forced participation in the planet-killing enterprise of industrial civilization is growing intolerable. Skipping past the conclusion drawn by many doomers that collapse and ecocide due to unrestrained human consumption of resources (and the waste stream that follows) have already launched a mass extinction that will extirpate most species (including large mammals such as humans), let me focus instead on gross dysfunction occurring at levels falling more readily within human control.

An Empire of War

Long overdue U.S. troop withdrawal from Afghanistan has already yielded Taliban resurgence, which was a foregone conclusion at whatever point U.S. troops left (and before them, Soviets). After all, the Taliban lives there and had only to wait. Distasteful and inhumane as it may be to Westerners, a powerful faction (religious fanatics) truly wants to live under a 7th-century style of patriarchy. Considering how long the U.S. occupied the country, a new generation of wannabe patriarchs came to adulthood — an unbroken intergenerational descent. Of course, the U.S. (and others) keeps arming them. Indeed, I heard that the U.S. military is considering bombing raids to destroy the war machines left behind as positions were so swiftly abandoned. Oops, too late! This is the handiest example how failed U.S. military escapades extending over decades net nothing of value to anyone besides weapons and ordnance manufacturers and miserable careerists within various government branches and agencies. The costs (e.g., money, lives, honor, sanity) are incalculable and spread with each country where the American Empire engages. Indeed, the military-industrial complex chooses intervention and war over peace at nearly every opportunity (though careful not to poke them bears too hard). And although the American public’s inability to affect policy (unlike the Vietnam War era) doesn’t equate with participation, the notion that it’s a government of the people deposits some of the blame on our heads anyway. My frustration is that nothing is learned and the same war crimes mistakes keep being committed by maniacs who ought to know better.

Crony and Vulture Capitalism

Critics of capitalism are being proven correct far more often than are apologists and earnest capitalists. The two subcategories I most deplore are crony capitalism and vulture capitalism, both of which typically accrue to the benefit of those in no real need of financial assistance. Crony capitalism is deeply embedded within our political system and tilts the economic playing field heavily in favor of those willing to both pay for and grant favors rather than let markets sort themselves out. Vulture capitalism extracts value out of dead hosts vulnerable resource pools by attacking and often killing them off (e.g., Microsoft, Walmart, Amazon), or more charitably, absorbing them to create monopolies, often by hostile takeover at steep discounts. Distressed mortgage holders forced into short sales, default, and eviction is the contemporary example. Rationalizing predatory behavior as competition is deployed regularly.

Other historical economic systems had similarly skewed hierarchies, but none have reached quite the same heartless, absurd levels of inequality as late-stage capitalism. Pointing to competing systems and the rising tide that lifts all boats misdirects people to make ahistorical comparisons. Human psychology normally restricts one’s points of comparison to contemporaries in the same country/region. Under such narrow comparison, the rank injustice of hundred-billionaires (or even simply billionaires) existing at the same time as giant populations of political/economic/climate refugees and the unhoused (the new, glossy euphemism for homelessness) demonstrates the soul-forfeiting callousness of the top quintile and/or 1% — an ancient lesson never learned. Indeed, aspirational nonsense repackages suffering and sells it back to the underclass, which as a matter of definition will always exist but need not have to live as though on an entirely different planet from Richistan.

Human Development

Though I’ve never been a big fan of behaviorism, the idea that a hypercomplex stew of influences, inputs, and stimuli leads to better or worse individual human development, especially in critical childhood years but also throughout life, is pretty undeniable. As individuals aggregate into societies, the health and wellbeing of a given society is linked to the health and wellbeing of those very individuals who are understood metaphorically as the masses. Behaviorism would aim to optimize conditions (as if such a thing were possible), but because American institutions and social systems have been so completely subordinated to capitalism and its distortions, society has stumbled and fumbled from one brand of dysfunction to another, barely staying ahead of revolution or civil war (except that one time …). Indeed, as the decades have worn on from, say, the 1950s (a nearly idyllic postwar reset that looms large in the memories of today’s patrician octogenarians), it’s difficult to imaging how conditions could have deteriorated any worse other than a third world war.

Look no further than the U.S. educational system, both K–12 and higher ed. As with other institutions, education has had its peaks and valleys. However, the crazy, snowballing race to the bottom witnessed in the last few decades is utterly astounding. Stick a pin in it: it’s done. Obviously, some individuals manage to get educated (some doing quite well, even) despite the minefield that must be navigated, but the exception does not prove the rule. Countries that value quality education (e.g., Finland, China, Singapore, Japan, South Korea) in deed, not just in empty words trotted out predictably by every presidential campaign, routinely trounce decidedly middling results in the U.S. and reveal that dysfunctional U.S. political systems and agencies (Federal, state, municipal) just can’t get the job done properly anymore. (Exceptions are always tony suburbs populated by high-earning and -achieving parents who create opportunities and unimpeded pathways for their kids.) Indeed, the giant babysitting project that morphs into underclass school-to-prison and school-to-military service (cannon fodder) pipelines are what education has actually become for many. The opportunity cost of failing to invest in education (or by proxy, American youth) is already having follow-on effects. The low-information voter is not a fiction, and it extends to every American institution that requires clarity to see through the fog machine operated by the mainstream media.

As an armchair social critic, I often struggle to reconcile how history unfolds without a plan, and similarly, how society self-organizes without a plan. Social engineering gets a bad rap for reasons: it doesn’t work (small exceptions exist) and subverts the rights and freedoms of individuals. However, the rank failure to achieve progress (in human terms, not technological terms) does not suggest stasis. By many measures, the conditions in which we live are cratering. For instance, Dr. Gabor Maté discusses the relationship of stress to addiction in a startling interview at Democracy Now! Just how bad is it for most people?

… it never used to be that children grew up in a stressed nuclear family. That wasn’t the normal basis for child development. The normal basis for child development has always been the clan, the tribe, the community, the neighborhood, the extended family. Essentially, post-industrial capitalism has completely destroyed those conditions. People no longer live in communities which are still connected to one another. People don’t work where they live. They don’t shop where they live. The kids don’t go to school, necessarily, where they live. The parents are away most of the day. For the first time in history, children are not spending most of their time around the nurturing adults in their lives. And they’re spending their lives away from the nurturing adults, which is what they need for healthy brain development.

Does that not sound like self-hobbling? A similar argument can be made about human estrangement from the natural world, considering how rural-to-urban migration (largely completed in the U.S. but accelerating in the developing world) has rendered many Americans flatly unable to cope with, say, bugs and dirt and labor (or indeed most any discomfort). Instead, we’ve trapped ourselves within a society that is, as a result of its organizing principles, slowly grinding down everyone and everything. How can any of us (at least those of us without independent wealth) choose not to participate in this wretched concatenation? Nope, we’re all guilty.

I admit it: I’m a bit triggered. Storming of the U.S. Capitol Building last week, even though it was over in one day, sent a lot of us back to the drawing board, wondering how things could come to that. Not that civil unrest, attempted coups and secession, and even revolution haven’t been predicted for months. Still, the weirdness of this particular manifestation of citizen frustrations is hard to fathom. See, for instance, this blog post, which offers a reckoning not easy to face. Simply put, crowds that form into protests and physical occupations fully recognize their abandonment at the hand of oligarchs and political leaders and as a result act out their desperation and nihilism. Their question becomes “why not take over and occupy a building?” Doesn’t matter, nothing to lose anymore. It’s already all gone. Whether it’s a college administrative building, governor’s mansion, federal or state office building, or the U.S. Capitol Building, the sentiment appears to be the same: why the hell not? Doesn’t matter there was no plan what to do once the building was breached; doesn’t matter that it wasn’t occupied for long; doesn’t matter that property was damaged; doesn’t matter that lives were ruined and lost; doesn’t matter that no replacement government or executive was installed like a real coup or revolution would demand. Still works as an expression of outrage over the dysfunctions of society.

On the bright side, actual death and injury were quite limited compared to what might have obtained. Mayhem was largely limited to property destruction. Plus, it was a potent reminder to legislators (filmed scrambling for safety) that maybe they ought to fear backing the citizenry into corners with nowhere to turn. Conjecture that, had the racial make-up of the protesters been different, a massacre would have ensued remains just that: conjecture.

(more…)

Years ago, I broke with my usual themes and styles to offer a listicle, mostly inanities and hyper-irony, which began as follows:

  • All cats are girls, all dogs are boys. Everyone knows this from childhood. Additional discussion is moot.

I’m not a good writer of aphorisms, so I haven’t returned to that brief experiment until now. For inspiration, I’m quoting numerous examples by Caitlin Johnstone, who is a frequent and fantastic writer of aphorisms under the repeated subtitle “Notes from the Edge of the Narrative Matrix.” The long-running theme we share is that we are all being programmed and propagandized continuously through the shaping of narrative by folks with obvious agendas. Johnstone believes we are collectively waking up — as if from a nightmare — to the dark realization that our minds have been colonized (my term) and that a worldwide transformation of consciousness is currently taking place. I don’t quite see it yet, but I’m sympathetic to the possibility that, as in the famous rant from the 1976 movie Network, “I’m as mad as hell and I’m not going to take this anymore!”

  • The essential character relationship of the 1% to the rest of us is predator/prey or strong/weak. Strong predators behave precisely as one would expect.
  • Trying to restore peace using the same violent police force whose violence disrupted the peace in the first place is a bit like trying to put out a fire using lighter fluid. The same lighter fluid that was used to start it. (Johnstone)
  • Rioting and looting are not constructive responses to society’s ills, but then, neither have various nonviolent forms of protest and dissent been effective at petitioning government for redress of grievance. Packing up and going home merely cedes the field of play to bad actors already stuffing everyone down.
  • Believing cold war is no big deal because nuclear war hasn’t happened yet is the same as believing your game of Russian roulette is safe because the gun hasn’t gone off yet. (Johnstone)
  • According to the movies, realizing one’s potential is achieved by developing punching/fighting/domination skills sufficient to force your will upon others, which is true for criminals, saints (good guys), men, and women alike.
  • Ecocide will be a problem as long as ecocide remains profitable. War will be a problem as long as war remains profitable. Politicians will cater to profit-seeking sociopaths as long as profit determines what drives human behavior. (Johnstone)
  • The most influential news outlets in the western world uncritically parrot whatever they’re told to say by the most powerful and depraved intelligence agencies on the planet, then tell you that Russia and China are bad because they have state media. (Johnstone)
  • Wanting Biden because he’s not Trump is the same as wanting cancer because it’s not heart disease. (Johnstone)
  • Capitalism will let you starve to death while sitting meters away from food. (Johnstone)

I wish more of them were my own, but the opportunity to choose some of Johnstone’s best was too good to pass up.

News aggregators such as Yahoo! are known to publish videos seeking help identifying perpetrators of crime caught on camera. There is no one canonical example, but those that pop for me usually depict some young dude mugging and robbing an old woman, presumably for whatever the contents of her purse might be. It’s disheartening to witness (at some remove) common street crime perpetrated so casually. Right, wrong, and one’s position in relation to those categories can’t be so difficult that criminals don’t know the difference. Yet they commit crime anyway. Then it struck me, “why, of course! We’re predators.” More than that, we’re apex predators. Let me explain.

Everything alive eats (and poops). Food for animals is mostly other living things, both plants and other animals. Accordingly, the basic relationship of animals to each another, even the noncarnivorous ones, is predator and prey. Predatory behavior usually occurs across species boundaries for social species but sometimes within. Besides crime videos, one can go online to watch vicariously as predators dispatch their prey. I recall being astounded to see golden eagles snatch goats off the sides of mountains or ravines only to release them from a height sufficient to result in impact death. They aren’t called birds of prey for nothing. If goats in this instance die quickly albeit painfully, the same can’t be said for victims of bears, which are known to pin down their prey and just start eating before the victim is even dead. Not all predators use size advantage, either. Some swarm their victims, others use disproportionate strength or immobilizing poison, and others sting and extract (without killing directly) or burrow and bore into their victims and consume them from inside. Sometimes, as in the insect world, a host organism is used as an incubator for a brood of offspring. Nature evolved a multiplicity of mechanisms and strategies for eating, for survival. Many are absolutely horrific to contemplate, but in a state of nature, they occur without implied moral weight.

It’s different (but then not so different) for humans, who no longer live in a strict state of nature but are instead members of civilized societies. We evolved and developed mechanisms, strategies, and tools to dominate all of nature and have essentially taken over the planet as the most successful of all apex predators — at least temporarily. It’s in our nature to do so, just as a big cat or alligator clamps its jaws on its prey. Billions of fowl, swine, and beef farmed for food production in frankly appalling conditions (thus the need for Ag Gag laws) attest to our callous treatment of other species. But humans have moral, ethical, and legal restraints when it comes to intraspecies predation. Some observe those restraints, others do not. Muggers and purse snatchers occupy middle ground, since killing isn’t necessary to secure food (or money) to survive. Writ large, exploitation of labor by the ownership class is arguably part of that middle ground, too. The main difference is that survival for corporate entities such as Walmart and Amazon (or their multibillionaire owners) is far less precarious than for a coyote stealing chickens out of backyards for its next meal.

/rant on

Had a rather dark thought, which recurs but then fades out of awareness and memory until conditions reassert it. Simply put, it’s that the mover-shaker-decision-maker sociopaths types in government, corporations, and elsewhere (I refuse to use the term influencer) are typically well protected (primarily by virtue of immense wealth) from threats regular folks face and are accordingly only too willing to sit idly by, scarcely lifting a finger in aid or assistance, and watch dispassionately as others scramble and scrape in response to the buffeting torrents of history. The famous example (even if not wholly accurate) of patrician, disdainful lack of empathy toward others’ plight is Marie Antoinette’s famous remark: “Let them eat cake.” Citing an 18th-century monarch indicates that such tone-deaf sentiment has been around for a long time.

Let me put it another way, since many of our problems are of our own creation. Our styles of social organization and their concomitant institutions are so overloaded with internal conflict and corruption, which we refuse to eradicate, that it’s as though we continuously tempt fate like fools playing Russian roulette. If we were truly a unified nation, maybe we’d wise up and adopt a different organizational model. But we don’t shoulder risk or enjoy reward evenly. Rather, the disenfranchised and most vulnerable among us, determined a variety of ways but forming a substantial majority, have revolvers to their heads with a single bullet in one of five or six chambers while the least vulnerable (the notorious 1%) have, in effect, thousands or millions of chambers and an exceedingly remote chance of firing the one with the bullet. Thus, vulnerability roulette.

In the midst of an epochal pandemic and financial crisis, who gets sacrificed like so much cannon fodder while others retreat onto their ocean-going yachts or into their boltholes to isolate from the rabble? Everyone knows it’s always the bottom rungs of the socioeconomic ladder who unjustly suffer the worst, a distinctly raw deal unlikely ever to change. The middle rungs are also suffering now as contraction affects more and more formerly enfranchised groups. Meanwhile, those at the top use crises as opportunities for further plunder. In an article in Rolling Stone, independent journalist Matt Taibbi, who covered the 2008 financial collapse, observes that our fearless leaders (fearless because they secure themselves before and above all else) again made whole the wealthiest few at the considerable expense of the rest:

The $2.3 trillion CARES Act, the Donald Trump-led rescue package signed into law on March 27th, is a radical rethink of American capitalism. It retains all the cruelties of the free market for those who live and work in the real world, but turns the paper economy into a state protectorate, surrounded by a kind of Trumpian Money Wall that is designed to keep the investor class safe from fear of loss.

This financial economy is a fantasy casino, where the winnings are real but free chips cover the losses. For a rarefied segment of society, failure is being written out of the capitalist bargain.

Why is this a “radical rethink”? We’ve seen identical behaviors before: privatization of profit, indemnification of loss, looting of the treasury, and refusal to prosecute exploitation, torture, and crimes against humanity. Referring specifically to financialization, this is what the phrase “too big to fail” means in a nutshell, and we’ve been down this stretch of road repeatedly.

Naturally, the investor class isn’t ordered back to work at slaughterhouses and groceries to brave the epidemic. Low-wage laborers are. Interestingly, well compensated healthcare workers are also on the vulnerability roulette firing line — part of their professional oaths and duties — but that industry is straining under pressure from its inability to maintain profitability during the pandemic. Many healthcare workers are being sacrificed, too. Then there are tens of millions newly unemployed and uninsured being told that the roulette must continue into further months of quarantine, the equivalent of adding bullets to the chambers until their destruction is assured. The pittance of support for those folks (relief checks delayed or missing w/o explanation or recourse and unemployment insurance if one qualifies, meaning not having already been forced into the gig economy) does little to stave off catastrophe.

Others around the Web have examined the details of several rounds of bailout legislation and found them unjust in the extreme. Many of the provisions actually heap insult and further injury upon injury. Steps that could have been taken, and in some instances were undertaken in past crises (such as during the Great Depression), don’t even rate consideration. Those safeguards might include debt cancellation, universal basic income (perhaps temporary), government-supported healthcare for all, and reemployment through New Deal-style programs. Instead, the masses are largely left to fend for themselves, much like the failed Federal response to Hurricane Katrina.

Some of this is no doubt ideological. A professional class of ruling elites are the only ones to be entrusted with guiding the ship of state, or so goes the political philosophy. But in our capitalist system, government has been purposefully hamstrung and hollowed out to the point of dysfunction precisely so that private enterprise can step in. And when magical market forces fail to stem the slide into oblivion, “Welp, sorry, th-th-that’s all folks,” say the supposed elite. “Nothing we can do to ease your suffering! Our attentions turn instead to ourselves, the courtiers and sycophants surrounding us, and the institutions that enable our perfidy. Now go fuck off somewhere and die, troubling us no more.”

/rant off

Most news I gather is for me unsurprising. That’s the regrettable condition of a doomer continuously learning of different sorts of corruption and awfulness piling up. For instance, the coronavirus crisis is unsurprising to me, as I’ve opined many times that a pandemic was overdue. The previous time I remember being surprised — sickened actually — was learning of the Great Pacific Garbage Patch. (Similar garbage gyres are found in all oceanic bodies.) I’m surprised and sickened yet again upon learning that the Environmental Protection Agency (EPA) has suspended enforcement of environmental laws against industries that despoil the environment in the course of their activities. Polluters are being granted, in effect, a license to kill. The 7-pp. memo can be found here.

I tried to read the memo, but it’s formulated in that dry, bureaucratic style that obfuscates meaning and puts readers to sleep. The news is reported here in a more readable fashion. The EPA’s action is purportedly a temporary response to the pandemic, but the crisis and the response seem to me unrelated except in the sense of “never let a serious crisis go to waste.” I fully expect opportunists to further consolidate power at the Federal level; I never suspected the crisis would be used to enable rape and pillage of the earth’s resources without consequence. No doubt, free rein to relax precautions is a dream many industrialists harbor, which aligns handily with GOP politics. Even to a cynic, however, this revision of policy is astonishing.

The earth has suffered quite a series of insults and injuries at the hands of its apex predator. How much more the earth can absorb is an impossible question to answer. However, it will obviously outlast us. We depend wholly on it, while it is indifferent to our needs. So the decision to loosen up and accept destruction not normally countenanced only hastens us early into the grave we have been digging for ourselves for the past three centuries or so. The pandemic and industrial civilization are already in the process of killing us (and in truth, probably most everything else). No need to accelerate further.

Caveat: I’m not an economist, nor do I subscribe to most economic analyses. The dismal science is a weird sort of voodoo practiced by self-proclaimed priests and wizards. So more than usual, this blog post is me talking outta my ass.

As we enter a new phase of history where developments come barreling at us with seismic force, the past offers limited guidance what to expect or how to act or react. We are all being sorely tested in myriad ways. Considering how so much of modern civilization depends on money to keep things going, we’re also now testing the limits of fiat currency’s departure from reality before the whole stinkin’ mess collapses. The appearance of cryptocurrencies based on absolutely nothing (unless social consensus and/or obscurantism counts) was easy to ignore, though the opportunity cost is obvious. Public debt and unfunded obligations (e.g., ballooning repayment schedules, entitlements, pensions) have been less easy to ignore, though that proverbial can continues to be kicked down the road indefinitely. But now, this week, we’re greeted with news that the U.S. Congress is readying helicopter money to be showered on everyone to stave off the very collapse some of us consider inevitable. Can’t ignore that. How it will be distributed is unknown (by me, at least), but historical guidance suggests that the least needful will be getting most of it.

The rather precipitous disappearance and reappearance of money (or value) from the U.S. stock market, first in a matter of weeks and then in only days, invites not just disbelief but jaw-dropping incredulity. Unlike the previous crash/recovery when the malefactors and beneficiaries were mostly the same claque of Wall Street goons, this latest crash and preposterous flash recovery (for now) owes its origin to other causes, not that any of the old vulnerabilities were lessened. Most regular citizens a decade ago wanted bad actors — criminals, really — prosecuted and jailed. Didn’t happen, of course, and we have no such scapegoats this time around. Moreover, whatever the extraordinary measures might best be called (bail-outs, bail-ins, etc.), they signal a foundational test of the nature of money.

Modern monetary theory (MMT) would have us believe that sovereign countries like the U.S., especially because the U.S. dollar functions as the world’s reserve currency, can essentially print and spend as much of the stuff as needed. No blowback will result — certainly not the dread specter of hyperinflation. But how confident can anyone be in the theory when its relatively modest prior practice has been immoderated so egregiously? If hyperinflation does indeed follow, which I can’t prophesy, economic priests and wizards ought to be defrocked permanently. Good luck with that, I suppose; rational explanations fare poorly with a public fed a steady diet of false narratives, lies, cons, and swindles leavened with a heavy dose of aspiration and hope, if not outright greed.

A heavily used rhetorical device of mine is to remind folks that there is always a bigger umbrella over the narrow theme of any blog post, and this final paragraph is no different. That covering is the nonmonetary resources that the money economy motivates. Whether a loaf of bread costs 20¢ or $20, the bread is what really sustains us, not whatever make-believe currency we use to facilitate exchange. Sure, the money compels us (for now) to do the things that make the bread or extract the oil or assemble the disparate parts of the widget. But once money becomes worthless or goods become so prohibitively expensive our efforts no longer suffice to sustain us, what then? We have no alternatives or second chances on the horizon, do we? Thus, the anticipated infusion of helicopter money might well be the equivalent of an all-in bet in poker. That’s a pretty big bet with whole population hanging in the balance.