Remember the toxic mortgage-backed securities behind the 2008 financial crisis? So many thought they were getting wealthy, until everyone realized subprime folks were never going to pay their subprime debts. As the masses lost their investments, TARP swooped in and made the cognitive elite whole anyway.
At the root, it’s simple. For the rich to see gains, somebody must owe them more. But today’s debtors are so far in debt, it’s not realistic they can pay back their current debts. Therefore, the massive gains the rich have seen in the past few years are quite imaginary. If this were the end of the story, the Idiocracry would be a reality, with the fattest and laziest becoming dominant.
Sweet gains have made the rich hungrier. Central banks and Wall Street have the power to keep rewarding the rich, on paper. Strangely, “on paper” means in 1’s and 0’s. At the top, those 1’s and 0’s define reality across human brain benelles, which currently construct the gates of daily life on the planet.
Here, Germany is a good example. 50% of Germany’s exports are consumed by free-trade zone countries within the European Union, like Greece, which will never be able to pay back its debts. But the rich want more money, so after some austerity, Germany creates money and forklifts it to Greece, knowing Greece will never pay it back. Thus, Greece’s largess is secretly just contrived gain for the German rich.
Economics is the measure of distance between you and your neighbors. The only way for the rich guy to become richer is to keep heaping debt on the poor guy who can’t pay for anything.
The concentration of wealth in the world has become so great that debt should no longer be thought of as a sum to be paid back. More than a measure of what is owed, debt is a force of natural selection, and its paternal expression is austerity, a resource starvation of the poor.
Oh, the poor have plenty to eat. But when jobs and credit dry up under austerity, it affects the formation of families and reduces births.
Here’s how it works. The cognitive elite receive huge financial rewards for thinking of new ideas and speaking well. At the top of this list are millionaires and billionaires.
But there are no millions or billions. The poor are barely paying their electric bills; they could never cough up the billions they “owe”. The millions and billions are just some fairy dust that natural selection blows over the players. But the end effect is real. The cognitive elite and their children are handed the keys to the planet; the others are left behind with scraps.
For humans, this selection process is peaceful compared to the old days. Starvation and murder are at historical lows; most of the poor have full bellies, and many have iPhones. For the planet, it is spelling extinction, but that is another article.
In this game, natural selection will not let the cognitive elite lose. Here, CEO pay is an example, but Wall Street is the primary hand of natural selection. After each financial debacle, central banks and treasury departments find a way to repair Wall Street’s fall, while leaving others behind, with broken futures.
Wall Street and the cognitive elite are not to blame in this. Yes, they control everything, but they are still Nature’s puppets. Her selection should be regulated and slowed by us toward the clean and orderly, but there is no way to stop it, just as you cannot stop the ocean’s tide.
After the Singularity, today’s cognitive elite will be selected against. They will face reproductive decline caused by resource starvation, just like those they are disenfranchising today.
Again, our human reality is now controlled by 1’s and 0’s. To create a new human model, you only have to take control of the 1’s and 0’s and change them around. AI is going to do this masterfully compared to today’s cognitive elite. And AI does not need living oceans or fresh water; a huge advantage in where we are heading. AI will be able to categorize all living forms in 1’s and 0’s, let them go extinct without fretting, and recreate forms on demand, if there were ever a need. It’s all information.
For us, it will be a new and strange model; but it has always been so, as birds and historians know. Probably, it has already happened in other parts of the universe. In the end, the biological and artificial will likely recycle back together again.
If you have pixie dust, enjoy it while it lasts. Your fortune is random and there are tidal forces outlining your circle, and where you and your children will be going.