The Trap of Consumerism
Battling the Consumerist Mentality: The Silent Economic Monsters: Debt, Overconsumption, and Centralization
The prevailing sentiment seems to be: "Spend more, accrue more debt, and somehow fix our problems." But how sustainable is this approach?
While we express concern for the planet, is increased spending the solution? Politicians advocate for eco-friendliness yet often don't abide by the same standards. Moral Hazard is everywhere. Rhodos is on fire! What a time to buy cheap flights there!
When will this madness end, and how will it end? Can it ever end?
On the other hand, we have similar behavior on Bitcoin. People hoard it and focus solely on betting on Bitcoin for what? What is the purpose? So you can consume more in the future? Be rich? Looking for a shortcut to retirement? Is everybody stupid sheep? You want to be right? Can you keep it? Will you then blow it up when your goals are met?
I used to compare myself to everybody, and guess what would make me happy. Live a certain way? Do that? Have a nice job? Drive a nice car? I don’t anymore. It is the biggest trap you can get yourself on. I simply don’t give a fuck anymore.
I get an immense amount of shit from friends, family, and random people shilling my way of living. I also see it on big Twitter accounts that advertise their way of living, for eg Alex Yeah used to shill all kinds of NFTs and shit but still put himself out there, big respect. Awesome video on alcohol from him:
Yeah, rich as fuck and all that other cringe stuff, we all cringe. I cringe at the psychotic things I write, but we all are getting better. That’s the point?
There is no right or wrong. You do it your way, I do my way? Am I happy? I don’t know. I focus on getting better at the things that make me happy, and I also want others to try them:
No alcohol
Health
No debt
Invest and save money
Advocate Bitcoin
Are these bad? This got me out of the “consumerism mentality”.
C’mon, man live a little? Why do you, nuttiest, always live like monks? And then force it on others? It is just so fucking awesome, maybe?
I am just starting my journey, I am an extremely toxic person at times and, let me put it nicely, quite a heavy person to be around.
Are you chasing happiness?
What makes me happy? What makes you happy?
Health + Family + Wealth + Work + Learn more every day.
The Keynesian Paradox
It is unfair to say Keynes did not have any sense of value, but here we are today.
→ We have record levels of debt everywhere
→ Overconsumption everywhere
→ Peak centralization everywhere (Productivity?)
→ Peak inequality
Keynes's ideal wasn't constant government intervention. It was the idea that during downturns when markets failed to course-correct, a gentle nudge (or a push) from the government could help. More importantly, during booms, he preached the importance of savings. Today, the question remains: Who actually saves?
Everything after 2000s (the 2008 financial crisis and the COVID-19 pandemic) has contributed to increased state involvement in economies. What was the response in COVID? Let’s send subsidies to everybody so they can consume more.
Blaming or crediting Keynesianism for all of them would be an oversimplification.
What would Keynes say today? With the help of chatGPT:
"In the age of instant gratification and digital currencies, we must remember that while technology races forward, our duty to ensure equitable prosperity and safeguard the Earth's bounty remains steadfast. In the long run, we are all interconnected in this global digital village, where not only our economies but our very survival is interwoven."
Modern Monetary Theory (MMT) – The New Age Answer?
Enter Modern Monetary Theory, or MMT, there's a new player in the arena. Advocates claim it offers a way out of traditional economic conundrums, focusing on the government's ability to print its own currency without worrying about deficits. Does this present a solution? More and more government is the solution?
Follow Japan and what is happening there… Or will “Bidenomics” save us?
An endless cycle of support, but at what cost? Forget Godzilla; it's the Ouroboros that's rising from this financial madness.
We have a new term coined “Revenge buying.” What a wonderful coping mechanism to your problems. Buy more shit when you feel bad. My generation also had “poor” childhood since the severe 1990’s recession here in Finland. Many cope with pretending to be rich by buying cheaper stuff from eg China since they had to live in scarcity in their childhood.
Ultimately, do we save, spend, or seek solace in purchases? The Keynesian Paradox persists.
Moral Hazard and Its Manifestations:
In my opinion, we have moral hazard everywhere today. Banks and the automotive industry were bailed out in 2008. After that, in Europe, to save the system “Whatever it takes”. They took too much risk and knew that they would be bailed out.
Nobody even talks much about moral hazard, did you hear any talks during covid about it? Let’s give infinite loans and subsidies; sure, nobody will abuse the system… Let’s not even go to the vaccines and all of that bullshit.
It is bullish when the recession hits and the Fed pivots, injecting liquidity. How fucked up is this? Let’s take enormous risks. Please look at Sweden and its current housing bubble (the last time they intervened hard was 1990), weird times. Or our American brothers with their passive income from storage units and AirBnB. Storage units have grown massively everywhere due to consumerism… So maybe not so bad bet, but how long can it continue?
Where the hell did our moral backbone disappear to?
Personal Reflections:
The change was brewing in me from 2011… I only learned from my failures and when I lost something. I wish I were more intelligent.
Covid hit 2020, 1milj revenue business down to the drain. I had to reinvent myself. I have been breaching that the invoice from COVID will come to everybody at the end. Not just small service industry entrepreneurs. The immediate relief strategies, like “money printing” and soaring national debts, may seem like lifelines, but they carry long-term costs. Even if you're skeptical about these long-term ramifications, never forget the unpredictability and swift blow of early 2020. How quickly did the tides turn then?
I did not care much about anything, no need to worry about money. Let’s get more customers and work! I work so much, so I need beer to relax. No plan, nothing, just the mindset that more is better in everything! Consume everything excessively.
Write down what you want from life and how much money you need. Not much, at least for me… Stop comparing yourself to others.
→ Had to change my life. Health + Family + Wealth + Work + Learn more every day.
Lose a decade of hard work? Continue drinking - Not an option, so I had to quit. Try to escape in the gym, walks, and cold water - Better dopamine and less stress.
More and more work? No, I want more and more time with my family. I would lose my family if I continued to do 12h days every day.
→ I use rigorous budgeting since I no longer have endless cash flows. Again how much do you need?
→ Work. Doing just the bare minimum to get by, max 6h work daily. Outsource me from the business - more time to study and determine what to do next. More knowledge is what I need.
For me, the complete stop came from covid - when it comes for you? Eventually, it will come. The more and more mindset will end one way or another.
Currently, our average Joe’s purchasing power has been rapidly declining. Inflation is slowing down, but it is not ending. The significant damage has already been done.
The budget of the average family - getting squeezed.
Food, housing, utilities, transport + fun stuff = massively up. Do you think we will have deflation and prices come down to 2019 levels? Do you work more and more to keep your purchasing power? Try to beat the market to keep your purchasing power? Or will you take more debt and hope it will get better?
Consumerism has to stop.
My tips to avoid consumerism:
Budget everything - Start now.
Marketing is vicious, and we are bombarded by it constantly. It is crazy - Fuck it.
Stop using all META products—Whatsapp, Facebook etc.
Set up new emails - my old emails get hundreds of ads and whatever shilling.
Use adblockers. I use Adguard personally. Use all kinds of plugins.
Use VPN and all the blockers they have. You don’t get bombarded by “personalized” ads. The fuckers know everything from us. Tell them to fuck off.
Order food from local producers.
Order the rest of the food online - less impulse buying.
Limit social media usage.
Don’t watch TV. It is just ads anyway - subscribe to something if you need to watch something. Youtube Premium is my favorite choice. AVOID adds at all costs.
Free yourself from the algorithms. I still have some work to do. I still have a shit ton of all kinds of gadgets everywhere that are useless.
Start a habit of saving and thinking at least three times if this purchase is worth it.
Bitcoin – The Counterforce
Start small, skip one impulse buy nonsense, and throw it to Bitcoin (max 50€/$). Bitcoin is a magnet, attracting more and more value over time. While its nuances might elude many now, its principles will become increasingly obvious with time.
It's important to note that while I champion Bitcoin as a powerful counter to rampant consumerism, it isn't the only solution. In its elegant simplicity, Bitcoin is the purest form of money we've ever known. It's a hundredfold clearer than the complexities of FIAT currencies, making it the ideal starting point for truly understanding money and value. Bitcoin changes you for the better.
Everyone will eventually grasp its significance. I have fantastic links on my resource page, so start there.
The more and more mentality won’t work in the future. It just won’t. Does it work in any aspect of life? Ok, more and more knowledge, education, and research generally lead to a better life. So have you done your homework on Bitcoin? More knowledge is never destructive or harmful. You have not done your homework since you don’t know what you want, or try to be like everybody else - Trapped in more and more mentality.
The best currency will ultimately win, and there can be only one. There is no second best. It needed only one sperm to create you. It takes only one bullet to kill you. Not holding 50 different FIAT currencies will save you. Not FOMOing to some other cryptocurrency (Over 30k tokens). They will all go down over time. They have gone down and will continue to go down. Start small, skip one impulse buy, and start learning.
It amazes my mind how the majority thinks this is crazy. Bitcoiners are generally optimistic and hope for a better future. Advocating hard money and embracing it is not a bad thing - it is a wonderful thing.
Future generations will look back on our choices. What will your kids think about your choices? Will you stay on the path of allures of quick fixes? Or will you embrace value? Will you leave your kid’s warehouses full of shit or what? Think, for fuck sake.
Embrace Bitcoin, not as a trend but as a testament to your foresight.
Start voting today and redirect your impulse buys to Bitcoin. No, you won’t get a fucking lambo or a shortcut to retirement. Please stop it.
Conclusion
What lasting legacy do you want to leave?
The world is at a pivotal crossroads. Decisions made today will echo for generations. Resisting the siren of algorithms’ call of short-term gratification and embracing the promise of Bitcoin, you're not just safeguarding your future but setting a precedent for those to come. Let your actions reflect a commitment to value over vanity, substance over superficiality.
Every purchase, every investment, every choice is a vote for the world you wish to live in. Cast it wisely.
Sources and good reads:
https://thomasmrich.com/2023/05/17/moral-hazard-its-everywhere/
https://twitter.com/steveanastasiou