In today’s world, countless diligent individuals find themselves grappling with significant challenges in their pursuit of stability. The aspiration to own a home, afford college education, and save for retirement appears increasingly out of reach, and the value of these endeavors often seems questionable.
— Gentlemen-Rankers, Rudyard Kipling
Insults and Offenses
After 80 years, many hardworking people are feeling adrift and unsupported. Securing a home, funding education, and saving for the future have transformed into daunting tasks. The very benefits associated with these goals are now more questionable than ever.
Currently, we face a troubling combination of factors that undermine the fruits of hard work, savings, and financial responsibility. This situation is frustrating, especially for those striving to provide for their families amidst tough economic conditions.
At the core of this dilemma is the creation of fiat money by central banks, which is further amplified by commercial banks via fractional-reserve banking. This orchestrates a cycle of financial instability. Prolonged periods of increased money supply followed by sudden contractions leave diligent workers struggling to gain traction.
Moreover, the middle class is feeling the pinch from stagnant wages, declining savings rates, and rising debt burdens. Entry-level jobs are scarce and poorly compensated. Similarly, professional roles have become subject to temporary staffing, further complicating career stability.
The global economy is undergoing a transformation that has been in motion since before the 21st century. The associated shifts come with their own set of challenges. Once-reliable pathways to success, such as higher education and stable jobs in large companies, no longer hold the same promise, while new success formulas remain undefined.
Stealing Your Life
Economic restructuring is an inherent part of development. The rapid advancement of technology and increased global connectivity contribute to this evolution. However, as workers navigate these challenges, the Federal Reserve layers on additional burdens.
Essentially, policymakers at the Federal Reserve, approved by the Treasury, inflate the money supply. Each new digital currency unit diminishes the value of existing money and imperceptibly confiscates wealth from people’s earnings and savings. Consequently, the concept of ‘working hard for an honest day’s wage’ has turned into a tale of folly.
Consider all the days you wished you could have stayed home with your family instead of laboring for a paycheck. Remember the time spent commuting and navigating demanding clients while your children grew up without you. Reflect on sunny days lost to endless office responsibilities.
For what? Only to watch as your hard-earned savings are gradually eroded by inflation after paying taxes and living expenses?
It’s vital to recognize that money represents more than wealth; it embodies time and the sacrifices made to earn it. When the Fed devalues your money, they don’t merely take your wealth—they take your life.
From Here to Eternity
This realization can be disheartening. Yet, life is far too short to dwell on bitterness. Challenges facing today’s workforce are not unprecedented; they have persisted and will continue to persist in various forms.
Like other injustices in life, the Federal Reserve’s actions warrant a stoic response. Speak the truth clearly and often. Let the just message endure despite the turmoil.
While the theft of the rewards of one’s labor can be demoralizing, it is essential to continue living fully and to counter the nonsense that pervades the culture. In the face of distortion, humility and honesty remain virtues worth striving for. When faced with overwhelm, sometimes it’s best to focus on simple tasks: wash the dishes, make the bed, and show gratitude.
With Thanksgiving Day approaching, it’s a fitting time to reflect on gratitude for the blessings we’ve received and the challenges we’ve faced.
Markets will behave as they will, regardless of opinions. So, let them go. Enjoy your time, cherish moments with family, indulge in the feast, and extend kindness to someone in need.
Wishing you a joyful Thanksgiving!
Sincerely,
MN Gordon
for Economic Prism
