Working Longer And Harder For Less
In today’s episode I share a great quote from a recent article from John Rubino’s Dollar Collapse website. It would be funny if it was not so tragic and such a reflection upon the criminal mutations that define our financial system. Rising inflation steals the purchasing power of people who have often worked their entire lives in the hope of a decent retirement. Those days are over.
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📍 Well, Hey everybody, Jonathan Doyle with you here. Once again, the supply side partners.com. Thanks for tuning in for a moment. Ah, hope you’re enjoying the content. We’ve got some great interviews coming up next week. I’m really excited about interviewing Paul Kingsnorth, which is just going to be brilliant.
So, listen, today, I want to share with you another great quote from John Rubino at dollar collapse. I think John puts out some great stuff. He’s, uh, he’s been working hard at this stuff for many years, and today he shared with us a great artist. Which he entitled. Thanks for your concern, Mr. Fink. And he quiets Larry Fink.
Who of course, many of you would know, knows the CEO of BlackRock. And in this interview, Larry Fink is talking about how bad he feels that many, many people are going to have to start working into their seventies to be able to fund any kind of retirement. And why is that? Of course it is because. Uh, the real inflation that’s happening at the moment, the food price inflation, a bunch of other stuff is making people’s dollars worth less and less.
So anybody was planning of course, to, uh, to retire on some kind of fixed income annuity is in serious trouble. So I want to share the quote with you from John, cause I think it’s really good. So I’ll just switch over to this now. So this is the quote he says, working into one seventies while loading up on volatile assets, like stocks is just the price we have to pay.
So the big banks and their favorite customers can make enough money to finance, incumbent politicians, reelection campaigns, see the system works. So, you know, interviewing Paul King’s north next week. It’s going to be very interesting because he. Started out as a incredibly active environmental activist, right.
Chain yourself to a bulldozer kind of guy, but he became very disillusioned with it. The closer he got to it and, and just had more and more resistant resistance to some of what was happening in the environmental movement. And I felt a kind of affinity because when COVID hit, I pivoted my career and started getting into magic.
And I came into it as somebody who always had this idea that capitalism is the greatest system ever, and free markets were the greatest thing ever and, you know, bought them. The more that I began to study and read, I realized that really what we’ve got, of course, isn’t free market capitalism, it’s regulatory capture and it’s crony capitalism and its shadow banking.
And it’s a 1% of the population or less making enormous amounts of money while the middle class essentially disappears and the poor get UBI. So. I like what John’s writing, because I think it resonates. I think that those of us that care about classical economics that care about supply side that have this crazy idea that if government gets out of the way, if we get to quite the, uh, the wonderful knife and Lewis, if we just get low taxes and stable money there, men and women can be incentivized to produce useful goods and services that people actually want to purchase.
So I think we’re in this really unique historical moment where I don’t even know how to describe it. I mean, if you want to post something in the comments, like where we’re in a system of enormous complexity, so the interplay of technology, human groups, You know, the, the stuff that I’ve read over the last few years, you know, black, black pools, investment Blackpool, shadow pools, dark pools, shadow banking.
So now somebody who’s in my, you know, late forties still got a young family and watched that all sign. They used to say that, uh, that a neo-conservative is, uh, is a, is a Democrat who’s been mugged or something. Is that how it goes? It’s like, You know that sometimes it’s not until the stuff hits you in the face personally, that you begin to really review and look at what’s happening.
I think here in my country, Australia, Karen and I have just been. You know, financially hammered, you know, our business was where we were traveling internationally, um, major global conferences speaking to tens of thousands of people a year and being very well remunerated for it. And then having a media business off the bat.
And then when government goes into lockdowns here in Australia, it’s just effectively wiped out a huge part of our business at that time, every public sector employee, including the political decision makers. Well, I don’t like using the term political decision makers because here in this country, what we have is unelected bureaucrats, um, you know, medical officials, uh, making decisions and then government, you know, leaders deferring to them.
But all the time they’re on full pay and some have had pay increases. So you see this huge imbalance. You begin to see a system that is fundamentally unjust and you can’t have an effective polity. You can’t have social cohesion. If one section of the population is punished by decision-making and another section of the society flourish.
Now we need justice and punishments when people break laws, but that’s not what’s happened here. So I guess what I’m saying is it’s just an extraordinary time in history to begin to. It’s really the emperor’s new clothes for me. It’s really the look at our system and go, this is fundamentally unstable.
And you know, my youngest child is kind of about 10. So it’s like, I 📍 start to think about the world they’re inhabiting and, um, what’s going to happen. So friends, thanks to John Ravino today for that great quote that, uh, reminding us that many people. I going to be trapped in a system of having to work longer and harder for less and less.
That’s fundamentally on just it’s what I like about supply side, right. As it is. I like this idea that, that, you know, and this has comes through in Nathan’s books on gold standards. Then once you have low taxes and stable money, you tend to get way less crime, much better. Social cohesion, this stuff. Ain’t rocket science.
So listen, that’s it. That’s a few thoughts for today. Go and check out email@example.com wherever you’re watching this YouTube, you’re hearing it on the podcast. Please hit subscribe, or you can find everything firstname.lastname@example.org. All right, friends. Get out there. Hedgehog. Uh, I think it’s time to, uh, you know, I don’t think we’ve got too long left before this, in this seismic house of cards comes crashing down.
Thanks for checking in. I’ll have some more content for you.
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