The Relentless Drive to Make Money is Killing us

I came across an interesting article while mind mapping yesterday. I sit down on Sundays to organize notes in iAWriter and scroll through the Internet to get ideas to write about.

I came across a fantastic article on Medium about how we can’t save the environment and ourselves until the financial system collapses.

Climate change and many other social and environmental ills won’t be cured until our $303 trillion dollars of global debt is forgiven.

In 2021 global debt, that is, the total amount borrowed by governments, businesses and households, stood at an incomprehensible $303 trillion. Meanwhile, total global economic output amounted to $94 trillion, which means debt exceeds output by 322%.- via Transformative

This debt will only get larger for everyone as we turn on our military complex to build more bombs for Ukraine. There will be more saber rattling with Russia and China will likely join in too.

More bombs and guns mean more debt has to be issued to pay for all of it. Meanwhile, our young adults are drowning in student debt and trains derail across the country.

People can’t afford to pay rent or buy enough food to feed themselves.

Everyone is up to their eyeballs in debt.

How is this sustainable?

It’s not and it will collapse one day, but when?

Permagrowth hellscape

Debt is a silent killer. Not only for us individuals but for nations and our planet.

When I was in MBA school we talked about “healthy debt”, debt used to finance a project or product that would generate more money than the debt incurred and its interest payments.

It was the capitalistic thing to do, to maximize shareholder’s wealth.

Debt creates a growth imperative, which is why companies operating in competitive markets must maximise profits, and it’s why the economy must continue to keep growing because debt can only be paid back at interest if the economy continues to grow. — via Transformative

This, in my opinion, is the root cause of the permagrowth hellscape we’re in.

The root cause of the destruction of our environment.

It all comes down to making money. Our relentless drive to make money is killing us.

Debt has you by the metaphorical balls

I never liked debt. I was raised to avoid it at all costs. I remember obsessing over $10,000 dollars of unsecured debt I had on my credit card. I couldn’t sleep because carrying all that debt scared me.

My parents were raised not to carry debt either. They saved and paid for things in cash. They had two credit cards they used and paid off the balance every month.

My friends? Not so much. They racked up debt faster than I could in a year. They “lived for today” and took those fancy vacations that I drooled over.

They would take advances on their credit cards to go gamble in Las Vegas.

They lived the “ buy now, pay later “ lifestyle and didn’t care. They’d pay off the debt eventually. They were ok with credit card companies having them by the metaphorical balls.

They were ok with being owned, as a modern financial slave, to the big financial corporations. They were ok with it, but I was not.

My close friend’s boss told him years ago that he wants his workers to buy that car, that house, and go into debt because then he’s got them by the balls. Then they have to come into work and take whatever shit he throws at them. — via me.

They were ok with conceding their power for a few short moments of pleasure. They were ok with being forced to go to work, to get on that endless loop of making money, to service their debt.

They didn’t realize the Faustian bargain they made. Debt is killing them now. It’s killing us all.

Fight Club

Fight Club has to be one of my favorite movies. It’s the first “shot across the bow” of our society pushing back on the shit show of a world we created.

My favorite scene is when they blow up all the credit bureau buildings and destroy all the credit records of every single person.

When I first saw the ending back in the late 90s, I didn’t understand the reason behind it.

I understand it now.

Debt compels you to do things you wouldn’t normally want to do. It’s a way to control you. Why do you think the GOP opposes President’s Biden student debt forgiveness program?

They want well-educated slaves to work the machine of their companies. They don’t want well-educated and critically reasoning free thinkers.

If you have debt, they own you. This is why there’s such a relentless drive to monetize everyone, to make a buck at every turn, so you will eventually go into debt.

Is this what life is about?

Think about this for a moment. What is your purpose on this earth? To maximize your potential and be happy and creative? Or is your purpose to work and be in debt till you die?

What is the purpose of all this? What’s this life about anyway?

Granted, some of these answers are an exercise in philosophical questioning but you can’t deny that there’s got to be a better way.

You can’t deny that your purpose isn’t to get into debt and be a financial slave.

There’s got to be something better out there for you and all of us.

There has to be freedom.