Notes from the edge of civilization: September 29, 2024
Debt? What debt?; Many retirees floundering financially; Ice Pick Bandit strikes dozens of trucks; Hurricane Helene wreaks havoc; Whistleblower offers chilling warning. It's been quite the week.
Peter Zeihan must have pulled his ponytail a bit too tight this week. In a daily update to his subscribers on Thursday, Zeihan showed how delusional he is (or just how bought-and-paid for), by attempting to reassure us that even though the US national debt has ballooned to $35 trillion — surpassing 100% of GDP — there’s no need to worry. At least not for another 30 years or so.
While gasping for breath on a mountain hike, Ponytail Pete tells us that Americans can pencil in “panic about the economy” for the 2050s mainly because — get this — other countries have it worse. Nothing like a little global misery to make our fiscal problems seem downright manageable.
In brief, Zeihan says: sure, $35 trillion is a big number, but have you seen Japan? Their debt-to-GDP ratio is hundreds of times worse than ours, and they seem to be humming along. China? Their corporate debt crisis is a mess, but the country hasn’t imploded yet. And when it does (and when the Eurozone finally gives up the ghost) Zeihan says there will likely be capital flight to the US, giving us a wee bit more time to kick the can down the road. Good strategy there, Pete.
A while back, we called Zeihan a “US orthodoxy shill” and this 7-minute video is proof positive. It’s like a mini-crash course in Bidenomics: the ‘cross your fingers and pray for a miracle’ fiscal recovery plan.
While Zeihan enjoys his ‘mountain man bun’ lifestyle of hiking and skiing, comfortably assured of royalty checks from book sales to the high priests of the laptop class and fans in DC, millions of hardworking Americans are struggling to make ends meet in retirement. Short-term thinking and a lack of proper planning have set us up — collectively — for some serious long-term pain, whether it's managing $35 trillion in national debt or being forced to move in with our kids because our retirement savings just aren’t enough.
Collapse Life friend, Peter Grandich, has been sounding the alarm — not once, not twice, but in the three times he’s joined host Zahra Sethna as a guest on the podcast. And countless other times when he speaks on radio, podcasts, and at conferences.
Just this week, in an article for Birch Gold Group, Peter Reagan wrote about an increasing number of retirees who are discovering that Social Security just doesn’t cut it.
He writes:
They aren’t necessarily bad people – they most often did their best. The truth is, saving for retirement is a challenge and planning for retirement is even harder.
And to make sure you don’t end up in a similar bind, you have to understand the real situation we’re in right now.
The fact of the matter is that many (most?) Americans simply don’t know how to set up a secure retirement for themselves. Fun fact: Many years ago, when I got my first real job that included a 401(k), I selected two investment options from the company’s list. The basis for my decision? One fund had the word “growth” in its name, and the other included the word “money.” That’s it. I paid zero attention to performance or expense ratios or investment strategy.
Decades later, I know better. But here’s the thing: Most people don’t. Most people know almost nothing about the finance business or the business of finance – let alone the pitfalls of investment planning.
Many of today’s retirees thought they had it figured out. When fixed pension plans shifted to 401(k)s, they were told they’d be in control of their future. Except no one handed out a manual on how to actually plan for that future. With inflation, healthcare, and the cost of literally everything skyrocketing, suddenly a quarter of people over the age of 55 are expecting their kids to help foot the bill for their later years.
It’s a tough pill to swallow, but the first generation of DIY retirees is struggling to stay financially independent. Unless you were born into generational wealth or had the foresight to save like a financial wizard, many Americans are facing some grim choices. If you’re lucky, that choice is moving in with family. If you’re not, it’s a much harder road ahead.
Speaking of hard roads, most of us are one unexpected crisis away from serious trouble, whether we care to admit it or not. Fragility abounds.
In a bizarre turn of events, truckers across Tennessee and Arkansas have found themselves on the receiving end of a tire-puncturing spree courtesy of a mysterious character known as the ‘Ice Pick Bandit.’
The tire terrorist has already struck over 50 rigs, including a shocking 17 trucks in one night. And if that wasn't enough, he followed it up with attacks on 25 more trucks just days later. Many of these victims are owner-operator truckers, which means they’re on the hook to replace them out-of-pocket. This is not the way to stimulate the economy, Ice Pick Bandit!
Despite the volume of attacks, security footage has been frustratingly useless, with cameras unable to capture the bandit’s movements due to poor lighting and grainy footage. However, authorities finally caught a break on September 11, when the bandit was spotted on video puncturing tires in Tennessee, giving authorities a glimpse of both his face and vehicle.
Meanwhile, social media is buzzing with warnings from truckers and others about these attacks, and reports of additional incidents in Tennessee have further fueled concerns. While the bandit’s motivations remain unclear, one thing is for sure: truckers are on high alert as this menace is causing costly delays in deliveries of essential supplies.
Just when you thought it couldn’t get worse for truckers, Mother Nature decided to hit below the belt buckle with Hurricane Helene. Much of the transportation infrastructure in the Southeast looks like a war zone. In fact, Helene hit Western North Carolina so hard that the NCDOT essentially threw in the towel, tweeting: “All roads in Western NC should be considered closed.”
The I-40 eastbound route through the Pigeon River Gorge near the Tennessee border has been partially washed away by a mudslide, turning a critical transportation artery into a long-term headache. Other major highways, like I-26 in Unicoi County, have also been obliterated by the storm, leaving few alternate routes for truckers trying to navigate the chaos.
A reminder from one of our readers, GrammyPammy: “Make sure you’ve got plenty of essential medicines and other things on hand — for yourself and for your elderly neighbors and loved ones.” She’s right! It’s going to take a LONG time to get things open and no doubt, supply chains all along the Eastern seaboard may well be impacted in ways we’re just learning about.
Worse, the erudite Dr. Levi Cowan over at Tropical Tidbits is forecasting another one, in the same general vicinity, circa October 6. This is not a call to panic. It’s a call to prepare. And some prayer wouldn’t hurt either.
Somehow, we seem to be on a roll, here in America. And not a great one, either.
As Paul Joseph Watson noted on Modernity News this week, Marcus Allen, a former FBI staff operations specialist and now whistleblower, recently took the stand in a hearing with lawmakers, detailing how he was persecuted for questioning the events of January 6, 2021.
Allen, who had his security clearance and pay suspended for sending an email that superiors claimed was "extremist propaganda," painted a grim picture of his treatment by the FBI. He testified that the agency targeted him for questioning why there were so many federal informants in the Capitol riot crowd. The fallout has left his family traumatized, fearing FBI retaliation.
(Click the image below to watch the video:)
But it was Allen’s closing remarks that really caught attention. The former specialist urged Americans to stock up on food and prepare for possible economic hardship. Recalling the practices of the Great Depression, he recommended having three to four months of food supplies, building community support, and learning how to defend oneself. Allen also encouraged prayer and regular Bible reading, leaving many to wonder just how dire he believes the future might become.
If this week’s Notes from the edge of civilization conveys anything, please let it convey that life is unpredictable and the systems we rely on are no longer ironclad, if they ever were. Whether it's the economy, infrastructure, or even the institutions meant to protect us, things can go sideways fast.
In the context of celebrating our first year of publishing, this is precisely why we started Collapse Life — to help open people's eyes to the cracks forming in the world around us and to try and prevent folks from being blindsided when the scales fall from their eyes. To all of you reading this, sharing the stories with others, and doing your bit to spread the word, we send our gratitude. And we thank you for the incredible support and encouragement as we enter our second year.
Uncertain times lie ahead. Rest assured, the Collapse Life team will continue to provide insights, tools, and strategies to help you prepare. Together, we can face the unknown with eyes wide open, with a plan in hand, and without fear.
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Congratulations on year 1
Thank you for a timely reminder. I would add: anything your family is likely to grow out of in 2 seasons.