A couple years ago I got fed up with the self-righteousness of political hacks. And trust me if you're not Winston Churchill, Dag Hammarskjöld, Nelson Mandela and King Arthur combined, you're a political hack in my book. Which is to say I don't trust much, and I'm ok to say I have trust issues. So anyway I'm wondering in particular where Leftists get the nerve. So I read enough of George Orwell to give me a clue. You know. Wigan Pier and all that. The basic lesson that I learned was that socialists and communists got their moral impetus from the obvious intransigence of the capitalist class. What they didn't anticipate was that the capitalist class would get so much larger after 50 years or so that there would be no more bullies to bully, or as I said:
If England faced socialism because the permanent unemployment of coal miners (due to a small monoculture of capitalist investors), America would not because of it larger, more diverse class of capitalist investors. This, in turn establishes a social momentum that keeps a larger literate class - the upper middle class..
A few weeks ago I finished Kevin Kelly's book, and I have finally become convinced that I should just go with the flow of every post-industrial thingy imagined up by millennial hackers and consumed by iPhone walking dead. Here are my magic words:
What the Marxists could never see coming was that there could be a nation with a million millionaires. So they figured that the could vanguardify the means of production. They had no idea how many means means meant. What we can't see is a planet with a million billionaires. Right now there are about 1900. But what if?
This afternoon while I was chilling in Manhattan Beach enjoying a U2 tribute band, it occurred to me that I should check to see if Bitcoin has dipped under 4000 USD. While I checked out the MACD on Cryptowatch, I realized that there are some 18 exchanges where Bitcoin is traded. If I wanted stock in Hewlett Packard I'm pretty much stuck buying it on the NYSE. Bitcoin's net value right about now with 16.5 million BTC out there at 4000 a pop is worth over 65 Billion USD, which is more than double the value of HP. But I suspect, well I'm betting a lot, that Bitcoin will easily triple in price by this time next year. Once enough people get a sniff of that, and ETH and all the next coins, there's going to be a lot of money in the world. New money. Fast money. Young people's money. Digital money.
Why do we think that there can't be more markets for more things more people think is valuable? Who would have thought, even when we had Dick Tracy cartoons full of the idea, that the average American would not only pay $300 bucks for the wrist radio (on credit) but another $100 a month to watch TV on it? It would have sounded preposterous. Like the valuation of Google. Like the number of satellites in orbit. Like the number of IOT devices we'll have, like the number of warehouses of massive servers Amazon and Microsoft have for rent to anybody.
What if the huge income inequality we're seeing right now is like the income inequality of the '49ers at Sutter's Mill as compared to the Conestoga kids still trying to make Colorado into a state. Maybe everybody gets richer and we're just second guessing, Maybe this first 2000 billionaires are really fairly brutal and simpleminded as compared to the many hundreds of thousands to come. Think about it. You played Monopoly. You pay more rent for your house now than for Boardwalk with one hotel. Why can't there be more money? Why can't there be a band better than the Beatles? Why can't there be a car better than the Ford Mustang?
I'm still pursuing the stoic, barbell theory. I am preparing for great wealth and great tragedy. But I'm beginning to think that the upside is way more up that I ever thought.