The Economy--and its Future--in Four Charts

Substituting debt for earnings while enriching the rich will bear bitter fruit.

Climbing above the craziness of the Normalized Now news flow to view the economy from a quiet, windswept peak helps clear the mind of clutter. The entire economy--and its future--can be distilled down to four charts that tell the underlying story of the U.S. economy over the past 55 years.

Many of the thousands of charts floating around illuminate some aspect of the economy, but these four tell the primary story:

1. The gains from rising productivity--the only durable source of prosperity--were shifted from wages to owners of capital.

2. As wages lost ground, the central bank (Federal Reserve) replaced cash earnings with debt, by a) lowering interest rates for 40 years, b) increasing the money supply and c) opening the flood gates of credit.

3. Wage earners used credit to pay expenses, the wealthy used credit to buy income-producing assets.

4. As a result, assets such as houses are now unaffordable to all but the wealthy.

The net result of these dynamics is the rich got much, much richer, and wage earners became debt-serfs paying interest to the wealthy owners of their debts. Let's start by noting the difference between an owner-occupied house and an asset (for example a rental property) that generates income.

The owner-occupied house may appreciate in value over time, but this increase isn't income or a capital gain until the house is sold. Until that point of sale, the house is merely an expense.

Student loans, auto loans, credit cards, etc. are also expenses. Wage earners' debts are expenses that aren't offset by income generated by the "asset" purchased with credit.

The quibble here is a $100,000 student loan will "pay off" by increasing the earnings of the student debtor, but this is not the equivalent of buying a bond that pays guaranteed interest. The university diploma may or may not pay off, or it may pay off for a few years and then become a net liability. It's more a wager than an investment, regardless of what the Higher Education / Student Loan industry claim.

The wealthy who already own assets have a much deeper pool of credit to tap, and the cost of borrowing money is lower for them, too. So the wealthy tapped the expanding pool of "money" and credit to buy income-producing assets: stocks, real estate, enterprises, etc.

Given the limited quantity of real-world assets that generate income, this relentless credit-fueled demand from the wealthy pushed the valuations of assets higher, rendering them less affordable to wage earners.

This massive, sustained transfer of wealth via credit expansion has been going on so long that it's now normalized: very few people can recall an economy that shared the gains with wage earners rather than diverting most of the nation's wealth to the already-wealthy.

This chart of wages' share of the nation's income is the key snapshot of the economy's core dynamic. No, it's not tech, or the stock market, it's this systemic shift of income from wage earners to owners of capital.



Over the past 50 years, this transfer amounts to a staggering $150 trillion: (same chart, but with the FRED database link)



Here is the chart of total credit expansion, which has outpaced not just wages but GDP (gross domestic product):



This chart of the top 9% (the top 1% have their own chart) shows how the rich have become much richer. The top 10% (top 9% plus the top 1%) have a net worth of $108 trillion, double that of the bottom 90% ($52 trillion), and 27X the net worth of the bottom 50% of the populace ($4 trillion).



The net result is housing has shifted from being affordable to wage earners seeking a place to live to an asset snapped up by the wealthy, private equity and corporations: since wage earners have lost ground, they cannot possibly compete with the wealthy in a bidding war funded by bottomless credit lines. Housing is now unaffordable except to the wealthy.



As a lagniappe, here is a chart of the wealth held by the top 0.01%, which illustrated how the wealth piling up in the top 10% has aggregated in the top 1%, top 0.1% and top 0.01%.



What future do these charts forecast? Instability on a scale few believe possible in the Normalized Now of $100 million homes, $600 million yachts and the speculative frenzy arising as those left behind seek some long-shot wager to gain a bit of the ground that has been lost over 2+ generations.

Substituting debt for earnings while enriching the rich will bear bitter fruit. How it manifests is unknowable, but that it will manifest is predictable. Extremes become more extreme until they break the entire status quo into brittle shards.

My new book Ultra-Processed Life, is available at a 25% discount (ebook edition) and 19% discount (print edition) through Friday, June 27.

---

My recent books:

Disclosure: As an Amazon Associate I earn from qualifying purchases originated via links to Amazon products on this site.

Ultra-Processed Life print $16, (Kindle $7.95, Hardcover $20 (129 pages, 2025) Read the Introduction and first chapter for free (PDF)

The Mythology of Progress, Anti-Progress and a Mythology for the 21st Century print $16, (Kindle $6.95, Hardcover $24 (215 pages, 2024) Read the Introduction and first chapter for free (PDF)

Self-Reliance in the 21st Century print $15, (Kindle $6.95, audiobook $13.08 (96 pages, 2022) Read the first chapter for free (PDF)

When You Can't Go On: Burnout, Reckoning and Renewal $15 print, $6.95 Kindle ebook; audiobook Read the first section for free (PDF)

Global Crisis, National Renewal: A (Revolutionary) Grand Strategy for the United States (Kindle $6.95, print $16, audiobook) Read Chapter One for free (PDF).

A Hacker's Teleology: Sharing the Wealth of Our Shrinking Planet (Kindle $6.95, print $15, audiobook $17.46) Read the first section for free (PDF).

Will You Be Richer or Poorer?: Profit, Power, and AI in a Traumatized World
(Kindle $3.95, print $12, audiobook) Read the first section for free (PDF).

The Adventures of the Consulting Philosopher: The Disappearance of Drake (Novel) $3.95 Kindle, $12 print); read the first chapters for free (PDF)

Money and Work Unchained $6.95 Kindle, $15 print) Read the first section for free


Become a $3/month patron of my work via patreon.com.

Subscribe to my Substack for free

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Thank you, Mary B. ($70), for your exceedingly generous subscription to this site -- I am greatly honored by your support and readership.		Thank you, John U. ($7/month), for your marvelously generous subscription to this site -- I am greatly honored by your support and readership.

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Hollowed Out

The status quo has pushed everything to an extreme of hollowed-out instability to maintain a superficial appearance of normalcy and stability. But it's all fake.

The phrase that best describes the present era is hollowed out. By hollowed out I mean the exterior facade still looks pretty much the same as it did in the past, but the internal structure has corroded / eroded to the point that little remains of what provided strength and stability. What's left is the illusion of stability.

Our spectacles have been hollowed out, lifeless, rote repeats of past performances, reduced to unintentional parodies of what was once vibrant.

Our entertainment has been hollowed out, dominated by remakes, retreads, threadbare extensions of tent-pole franchises and sound-alike songs.

Even our outrage has been hollowed out, perfunctory displays phoned in from afar, as we all know outrage has been exhausted along with everything else.

Our "innovation" has been hollowed out, with toys such as flying motorcycles and self-driving taxis presented as "solutions" to phantom "problems," "solutions" that boil down to hype, clickbait or another reach for higher corporate profits. The most visible result of AI is AI Slop:

AI Slop: Last Week Tonight with John Oliver (29 min) (via Richard M.)

Our incentives have been hollowed out, leaving only the most perverse extremes. The motivation to flood social media with AI Slop is the faint hope of creating a viral link that earns a pittance for the AI Slopper.

Our realm of romance has been hollowed out, leaving a hellscape of dating sites and the wreckage left by ubiquitous online porn.

Our food has been hollowed out, ultra-processed slop remorselessly worked into "new" "innovative" products that are parodies of quality and innovation: you've just got to try the new jalapeno-yuzu-crawfish bagel...

Our politics have been hollowed out, with the only useful reform--requiring politicians to wear the logos of their corporate campaign donors--nixed because it would have made obvious what everyone knows: politics is now an open auction for favors and influence.

It would be far more honest if we conducted the passage of congressional bills as open auctions on eBay for all to bid and all to see: Buy Now for only $500,000: a tax break hidden deep inside the untouchable Defense Appropriations Bill.

Our economy has been hollowed out in virtually every sector, from Higher Education to Healthcare to housing. Much of what passes for "growth" is either waste (BS work, planned obsolescence, fraud), statistical trickery or artificial stimulus.

The shell remains standing but it now requires massive injections of borrowed money to prop up the rotted facade. Consider Higher Education. Before it was hollowed out, millions of college students were educated without needing to enter debt-serfdom to pay tuition and fees. As this chart shows, student loans were zero in 1993.

Now there's $1.5 trillion in student loans. The number of administrators quadrupled, while federal legislation made student debt the one form of debt that cannot be discharged in bankruptcy, effectively legalizing debt-serfdom.



The Higher Ed / student loan industry's relentless hype machine drummed the idea that doom awaited any young person without a university degree, or better yet, a graduate degree or MBA. The net result, as we all know, is a vast over-supply of MBAs, graduates of law schools and computer programmers, all fields currently being decimated as AI tools do to white-collar work what industrial robots did to blue-collar factory work.

Meanwhile, back in the real economy, the nation has a severe shortage of skilled trade workers--yup, the kind of work denigrated by the "you gotta go to college" machine. Yes, the kind of work AI and robots can't do: What AI Can't Do Faster, Better, or Cheaper Than Humans (June 2, 2025)

The housing and mortgage sectors have also been hollowed out, creating overpriced facades propped up by $2+ trillion in Federal Reserve purchases of mortgage-backed securities (MBS). How did millions of households manage to buy homes from 1946 to 2001 without the Fed nationalizing the mortgage sector and inflating one housing bubble after another in the process?



Private-equity and corporations with bottomless credit lines courtesy of the Fed have feasted on housing, pushing valuations to extremes of unaffordability while jacking rents to the stratosphere to maximize shareholder value at the expense of the workforce.



The status quo has pushed us into extremes of hollowed-out instability to maintain a superficial appearance of normalcy and stability. But it's all fake. If Higher Education now requires students to become debt-serfs, that is not a system worth propping up. It should be allowed to be obsoleted by much more effective and cheaper alternatives, for example what I proposed 13 years ago in my book The Nearly Free University and the Emerging Economy.

Everything has been hollowed out by insiders being enriched by a system that must be propped up with trillions in borrowed money lest it collapse under its own bloated weight. Insiders, grifters and apologists always trot out rationales which boil down to transparent self-serving excuses cloaked by piteous bleating. Garsh, it wasn't our greed, it was a butterfly flapping its wings in the Amazon...

Now that everything's been hollowed out, nobody is accountable or takes responsibility for any of it. Disconnecting self-serving greed from consequences is the key dynamic in hollowing out once-functional institutions and sectors.

Our experience of the real world has been hollowed out, too, something I explore in my new book Ultra-Processed Life, which is available at a 25% discount (ebook edition) and 19% discount (print edition) through Friday, June 27.

---

My recent books:

Disclosure: As an Amazon Associate I earn from qualifying purchases originated via links to Amazon products on this site.

Ultra-Processed Life print $16, (Kindle $7.95, Hardcover $20 (129 pages, 2025) Read the Introduction and first chapter for free (PDF)

The Mythology of Progress, Anti-Progress and a Mythology for the 21st Century print $16, (Kindle $6.95, Hardcover $24 (215 pages, 2024) Read the Introduction and first chapter for free (PDF)

Self-Reliance in the 21st Century print $15, (Kindle $6.95, audiobook $13.08 (96 pages, 2022) Read the first chapter for free (PDF)

When You Can't Go On: Burnout, Reckoning and Renewal $15 print, $6.95 Kindle ebook; audiobook Read the first section for free (PDF)

Global Crisis, National Renewal: A (Revolutionary) Grand Strategy for the United States (Kindle $6.95, print $16, audiobook) Read Chapter One for free (PDF).

A Hacker's Teleology: Sharing the Wealth of Our Shrinking Planet (Kindle $6.95, print $15, audiobook $17.46) Read the first section for free (PDF).

Will You Be Richer or Poorer?: Profit, Power, and AI in a Traumatized World
(Kindle $3.95, print $12, audiobook) Read the first section for free (PDF).

The Adventures of the Consulting Philosopher: The Disappearance of Drake (Novel) $3.95 Kindle, $12 print); read the first chapters for free (PDF)

Money and Work Unchained $6.95 Kindle, $15 print) Read the first section for free


Become a $3/month patron of my work via patreon.com.

Subscribe to my Substack for free

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NOTE: Contributions/subscriptions are acknowledged in the order received. Your name and email remain confidential and will not be given to any other individual, company or agency.

Thank you, Mary B. ($70), for your exceedingly generous subscription to this site -- I am greatly honored by your support and readership.		Thank you, John U. ($7/month), for your marvelously generous subscription to this site -- I am greatly honored by your support and readership.

Thank you, Jacob B. ($7/month), for your superbly generous subscription to this site -- I am greatly honored by your support and readership.

Thank you, Brendan ($7/month), for your splendidly generous subscription to this site -- I am greatly honored by your support and readership.

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Is Life Now a Snack?

What's changed isn't our hard-wiring. What's changed is our industrial and communications technologies' powers to activate and exploit our hard-wiring.

Is daily life now a snack? This is the premise of my new book, Ultra-Processed Life. What makes this interesting is it's something we can all observe in our daily lives--how the processes that make ultra-processed snacks so addictive and unhealthy have spread into every nook and cranny of life.

I liken this normalization of addictive and unhealthy lifestyles to an aggressive invasive jungle vine that soon smothers the native forest. Like the vine, Ultra-Processed Life is extremely successful at drawing us in: who can resist the brightly packaged, oh-so-tasty New and Novel?

As I note in the book, I think I have a healthy amount of self-discipline, but the moment I crunch into a salty, sweetly oily snack, every shred of self-discipline dissolves, and I'm reaching into the cheery bright package for another one, and then another one until there's none left.

This is how Ultra-Processed Life works: it activates our built-in desire for whatever makes us feel good in the moment--a dopamine rush that can be unleashed by a broad range of stimulants.

In effect, ultra-processed goodies hijack our hard-wired appetites for what's scarce in Nature. This extends beyond food into the digital realm, where the screen becomes the snack we can't stop consuming.

Though the dopamine hit feels good in the moment, the long-term consequences are not positive. Once life is reduced to moving from one dopamine hit to the next, we not only enter the unhealthy realm of addictive behaviors, we lose touch with the unprocessed world, and lose our taste for unprocessed life: after becoming accustomed to a diet of unprocessed foods bursting with sweetness, salt and savory fats, real food--and thus real life--loses its appeal.

This generates a great tide of perverse consequences. These ultra-processed replacements of unprocessed life offer up endless temptations begging to be indulged: Ultra-Processed Life is like living in a candy store without any adults to stop us from eating as much as we want.

I can think, "eating this entire package of unhealthy snacks is not good for me," but our rational filters don't stop the pleasures and comforts of the dopamine rush.

There is a rich vein of irony, perversion and paradox in this. Products, services and experiences are designed to attract and addict us, and when our rational filters fail, then the fault is ours: tsk-tsk, you didn't display god-like self-discipline.

What's changed isn't our hard-wiring. What's changed is our industrial and communications technologies' powers to activate and exploit our hard-wiring. Now that life is so overwhelmingly complex, we find solace in a simplified sandbox world of Ultra-Processed Life because it offers immediate gratification and relief.

The cost is higher than we realize, for the sources of authentic human fulfillment and happiness can't be packaged and commoditized. What we're consuming is artificial, a manufactured contrivance that's profitable for the purveyors but not for the consumers.

This world is now hyper-normalized: if it's all we know, then we think it's all there is, and so we no longer recognize its impoverishment and artificiality. My analogy is the forest: if a child has only experienced a tree-farm forest, trees planted to maximize future profits, they naturally assume "this is a real forest."

But this is not an authentic forest. If the child never visits a pristine native forest that has never been clear-cut, they will never experience a real forest. If all the child has ever eaten is commoditized bread manufactured to extend its shelf life, they will never know what real bread tastes like.

In this simplified hyper-normalized version of daily life, if it's not on the screen, it doesn't exist. It does exist, but we're no longer aware of it.

This is why the first chapter of the book is entitled The Machinery of Bewitchment. If you'd like to read a bit more, the book's Introduction and first section are free in PDF format.

As with many others, the catalyst for this journey was a life-threatening medical crisis. This led us to a path away from Ultra-Processed Life, a path I discuss in the book.

I'm offering the book to my readers at a 25% discount for the ebook edition and 19% discount on the print edition through Friday, June 27. At midnight Friday EST, the price reverts to list ($16 print, $20 hardback, $7.95 Kindle ebook).

I think you'll find the ideas intriguing and worthy of exploration. The book is currently "#1 New Release in Social Philosophy" on amazon.com.



Ultra-Processed Life is available at a 25% discount on the ebook edition and 19% discount on the print edition through Friday, June 27.

---

My recent books:

Disclosure: As an Amazon Associate I earn from qualifying purchases originated via links to Amazon products on this site.

Ultra-Processed Life print $16, (Kindle $7.95, Hardcover $20 (129 pages, 2025) Read the Introduction and first chapter for free (PDF)

The Mythology of Progress, Anti-Progress and a Mythology for the 21st Century print $16, (Kindle $6.95, Hardcover $24 (215 pages, 2024) Read the Introduction and first chapter for free (PDF)

Self-Reliance in the 21st Century print $15, (Kindle $6.95, audiobook $13.08 (96 pages, 2022) Read the first chapter for free (PDF)

When You Can't Go On: Burnout, Reckoning and Renewal $15 print, $6.95 Kindle ebook; audiobook Read the first section for free (PDF)

Global Crisis, National Renewal: A (Revolutionary) Grand Strategy for the United States (Kindle $6.95, print $16, audiobook) Read Chapter One for free (PDF).

A Hacker's Teleology: Sharing the Wealth of Our Shrinking Planet (Kindle $6.95, print $15, audiobook $17.46) Read the first section for free (PDF).

Will You Be Richer or Poorer?: Profit, Power, and AI in a Traumatized World
(Kindle $3.95, print $12, audiobook) Read the first section for free (PDF).

The Adventures of the Consulting Philosopher: The Disappearance of Drake (Novel) $3.95 Kindle, $12 print); read the first chapters for free (PDF)

Money and Work Unchained $6.95 Kindle, $15 print) Read the first section for free


Become a $3/month patron of my work via patreon.com.

Subscribe to my Substack for free

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NOTE: Contributions/subscriptions are acknowledged in the order received. Your name and email remain confidential and will not be given to any other individual, company or agency.

Thank you, Riverman ($7/month), for your exceedingly generous subscription to this site -- I am greatly honored by your support and readership.		Thank you, Richard C. ($7/month), for your marvelously generous subscription to this site -- I am greatly honored by your support and readership.

Thank you, Michael P. ($70), for your superbly generous subscription to this site -- I am greatly honored by your support and readership.

Thank you, S.P.M. ($7/month), for your splendidly generous subscription to this site -- I am greatly honored by your support and readership.

Read more...

Meta-Thoughts on the War

Decades of 'The Fog Machine of War' have jaded the public's appetite for 'Narrative Control'.

The Fog of War is perhaps better described as The Fog Machine of War, for everything presented to the public is some version of Narrative Control, the purpose of which is to establish a context and story that's beneficial to whomever is presenting "facts," "news," "information" and "commentary."

The other motivation for flooding global media with "news," "information" and "commentary" is to maximize profits via serving the insatiable appetite for "what's really going on." What's really going on is of course a closely held state secret, the very last thing that would ever be released to the public.

Since everything is Narrative Control and exploiting crisis for profit, there's little value in any of what's presented to the public other than what it suggests on a meta-level, that is, what isn't being revealed and promoted as "what's really going on."

It seems to me there is only one way to assemble a jigsaw that approaches the goal of discovering "what's really going on." The first step would be to obtain fly on the wall unfiltered intelligence summaries (unfiltered meaning not yet massaged for the political leadership) from the intelligence agencies of the three combatants: Iran, Israel and the United States. This is of course impossible.

The second step would be to obtain the unfiltered intelligence summaries from regional players, for example, Turkey, Saudi Arabia, etc., who have their own sources.

The third step would be to obtain the unfiltered intelligence summaries from Major Power players with a keen interest in figuring out "what's really going on," for example, China, Russia and the European Union intel agencies.

The fourth step would be to survey mid-level officers conducting actual operations. It would also be helpful to have access to those actually conducting post-operation damage assessments.

You discern the meta-thinking here: valuable information tends to get filtered out (or lost) between each level of information gathering, summary and presentation to the next level of the hierarchy.

At the highest level, the military leadership tends to be under pressure to control the narrative of what's presented to the political leadership. This can play out in any number of ways: the military leadership might exaggerate the direness of the situation to obtain permission for a risky operation, or it may gloss over the situation to avoid being sacked.

What strikes me as interesting is how long this situation has been brewing. Iran's nuclear ambitions have been front and center for a great many years, and so intelligence and operational planning have been going on for many years.

In other words, this isn't a flash-bang crisis that suddenly erupted from conditions that were unstable beneath the surface but superficially stable, for example, a coup d'etat in a resource-rich nation few people can locate on a map.

What's unknown for obvious reasons is the capabilities in play. In the aftermath of the intelligence agencies scandals of the 1970s, various tell-all books were published, revealing technical abilities long kept secret.

For example, it was revealed that the U.S. intercepted communications between doomed cosmonauts drifting in a failed Soviet space mission and the tearful Soviet political leadership.

We have no way of knowing if this "tell-all" is true or just another subtle form of Narrative Control. But given that the U.S. spends more on signal intelligence, space-based assets, and other information gathering than other nations spend on their entire militaries, it's plausible.

As for what capabilities are in play today: the public has no idea. We can have fun guessing, but it's all guessing.

Decades of The Fog Machine of War have jaded the public's appetite for Narrative Control. Few believe the "official version" of anything, for good reasons. Public trust has eroded, and so the meta-thought here is the Narrative Control has shifted to insiders' "tell-all" accounts and leaked accounts of "what's really going on."

So the dirt revealed by opponents of the conflict--well, perhaps all that should be taken with a hefty grain of salt, too. The truth--if we dare even using that word--is we collectively know next to nothing about "what's really going on", and so profitably chasing speculation is all that's left.

---

My recent books:

Disclosure: As an Amazon Associate I earn from qualifying purchases originated via links to Amazon products on this site.

Ultra-Processed Life print $16, (Kindle $7.95, Hardcover $20 (129 pages, 2025) Read the Introduction and first chapter for free (PDF)

The Mythology of Progress, Anti-Progress and a Mythology for the 21st Century print $16, (Kindle $6.95, Hardcover $24 (215 pages, 2024) Read the Introduction and first chapter for free (PDF)

Self-Reliance in the 21st Century print $15, (Kindle $6.95, audiobook $13.08 (96 pages, 2022) Read the first chapter for free (PDF)

When You Can't Go On: Burnout, Reckoning and Renewal $15 print, $6.95 Kindle ebook; audiobook Read the first section for free (PDF)

Global Crisis, National Renewal: A (Revolutionary) Grand Strategy for the United States (Kindle $6.95, print $16, audiobook) Read Chapter One for free (PDF).

A Hacker's Teleology: Sharing the Wealth of Our Shrinking Planet (Kindle $6.95, print $15, audiobook $17.46) Read the first section for free (PDF).

Will You Be Richer or Poorer?: Profit, Power, and AI in a Traumatized World
(Kindle $3.95, print $12, audiobook) Read the first section for free (PDF).

The Adventures of the Consulting Philosopher: The Disappearance of Drake (Novel) $3.95 Kindle, $12 print); read the first chapters for free (PDF)

Money and Work Unchained $6.95 Kindle, $15 print) Read the first section for free


Become a $3/month patron of my work via patreon.com.

Subscribe to my Substack for free

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NOTE: Contributions/subscriptions are acknowledged in the order received. Your name and email remain confidential and will not be given to any other individual, company or agency.

Thank you, Riverman ($7/month), for your exceedingly generous subscription to this site -- I am greatly honored by your support and readership.		Thank you, Richard C. ($7/month), for your marvelously generous subscription to this site -- I am greatly honored by your support and readership.

Thank you, Michael P. ($70), for your superbly generous subscription to this site -- I am greatly honored by your support and readership.

Thank you, S.P.M. ($7/month), for your splendidly generous subscription to this site -- I am greatly honored by your support and readership.

Read more...

How Housing Bubble #2 Bursts

Corporate / private equity / STVR investors are all fair-weather owners of housing.

Let's indulge in some basic logic:

1. All credit-asset bubbles burst.

2. U.S. housing is a credit-asset bubble.

3. The U.S. housing bubble will burst.

The only variables are how and when Housing Bubble #2 will burst. That's today's topic.

I've been writing about housing since 2005, as Housing Bubble #1 was inflating. I've participated in / observed housing rising sharply in the late 1970s and the late 1980s, followed by deflation / stagnation. Housing Bubble #1--circa 2003-2008--was characterized by all the classic signs of a mania:

1. Participants denied it was a bubble. When greed displaces prudence, this isn't a bubble doomed to pop, it's the New Normal.

2. Fraud, malfeasance, misrepresentation, speculation and leverage were all rampant. In the euphoric ascent to ever higher valuations, why let foolish little things like income, risk management and credit ratings stand in the way of reaping more profits?

Housing Bubble #2 has rolled over into the decline phase, but this is discounted by the consensus which holds that higher mortgage rates dented the market; once they drop a bit, housing will resume its ascent to ever-higher valuations.

I see a different set of dynamics in play:

1. The 40+ year cycle of interest rates / bond yields has turned. Rates will not go back to zero and stay flatlined for years. Risk and inflationary forces have changed and are not returning to The Great Moderation.

2. The Federal Reserve / federal government effectively nationalized the mortgage industry post-2009 Global Financial Meltdown as the means to stop the decline of housing valuations and re-inflate them via super-low mortgage rates. The Fed bought a staggering $1.2 trillion of mortgage-backed securities in 2009-2010, up from zero--a monumental manipulation of the mortgage market that soon exceeded $1.6 trillion.

How the housing/mortgage market managed to survive without Fed nationalization prior to 2009 remains a mystery.

For its part, the federal government effectively nationalized the quasi-governmental mortgage agencies (Fannie Mae, Freddy Mac), using these agencies to guarantee most mortgages in the U.S.

3. The incentive (lower mortgage rates) to commit fraud by claiming to be an owner-occupant rather than an investor has pushed mortgage fraud to levels that Federal Reserve researchers declare "rampant." Owner-Occupancy Fraud and Mortgage Performance (A 46-page PDF report is available on this link.)

The study's authors found that "in most years, fraudulent investors make up roughly one-third of the total pool of investors." Fraud rates in excess of 13% were found in some states states.

The frenzy to buy and convert houses to short-term vacation rentals (STVRs) took off in the post-pandemic "revenge travel" boom. Corporate purchases of houses as rental properties had taken off in the post-2009 era of mass foreclosures, a trend that accelerated as private equity sought new markets to exploit.

Combine corporate / private-equity buyers with small investors flooding into STVRs and the post-pandemic panic-buying frenzy, and it's little wonder that investors--declared and fraudulent, large and small--now own huge swaths of housing in the U.S.:

Investors Bought 26% of the Country's Most Affordable Homes in the Fourth Quarter--the Highest Share on Record

An estimated 26% of Fort Worth's single family homes are owned by companies, city says

(Yes, family trusts and households can own housing as LLCs, but the study linked above paid no attention to the type of ownership; it paid attention to A) if the owners have multiple first liens, and B) whether they moved following the origination of their new purchase mortgage or not.)

4. The risks created by this preponderance of investor ownership are high. The Federal Reserve researchers found that fraudulent investors pose a much higher risk of default than declared investors and real owner-occupants.

As "revenge travel" shrivels up, property taxes and insurance rise and inflation ravages household budgets, STVRs are quickly shifting from income-producing assets to loss-generating liabilities. Investors either sell before they're under-water or the risk of default rises accordingly.

Professionally managed corporate and private-equity owners will start unloading properties as rents sag and vacancies rise. STVR owners who realize the tide has reversed will also rush to sell before the price slide gathers momentum.

Let's look at some charts for context. Here is a chart of total housing units. Confounding the conventional narrative of a "housing shortage," the U.S. added 7.6 million housing units in the five years 2020-2025, a rate far higher than the 8.6 million units added over 10 years 2010-2020.



Here is a chart of owner-occupied housing. Note that the number of owner-occupied homes was flatlined for 12 years--from 2005 to 2016. Then it suddenly leaps up by 10 million in a few years--from 76 million to 86 million. Did 10 million households all win the lottery, or is the bulk of this astounding increase the result of fraudulent investors posing as owner-occupant buyers?



This map shows the extent of investor mortgage -fraud.



This chart of Federal Reserve ownership of mortgage-backed securities (MBS) overlays neatly with each leap higher in valuations. Pump "free money" into the financial system and keep rates at historic lows, and voila, you can inflate a bubble for the ages.



The post-pandemic buying frenzy pushed the cost per square foot of houses listed for sale up 57%.



Unsurprisingly, this bubble pushed housing affordability to record lows.



The Case-Shiller Index offers a long-term view of how far valuations could drop once the bubble bursts. A 40% decline would be the norm, and a 50% drop would be well within the typical range of bubbles bursting.



The Fed's mass manipulation of mortgage rates in 2010 "saved" Bubble #1 from playing out in a free-market manner, but the Fed won't be able to engineer an equivalent "save" this time around, as the mortgage market has already been nationalized and the Fed already owns a stupendous $2.1 trillion of MBS.



Corporate / private equity / STVR investors are all fair-weather owners of housing. Once the profits shrink or reverse into losses, investors push the "sell" button. And since housing is priced on the margins, it only takes a handful of get-me-out sales to push valuations down 10%, then 20%, then 30% and eventually to a bottom between 40% anf 50%.

This vulnerability to the collapse of valuations is the bitter fruit of the Fed's manipulation of rates and mortgages over the past 16 years. We love a "free market" when rapidly expanding credit inflates a bubble, but oh dearie-dearie me, we have to stop the "free market" from operating if it bursts the bubble.

Here's how Housing Bubble #2 bursts: buyers of overvalued, money-losing properties vanish, those who waited too long sink underwater (sales prices are lower than what they paid), marginal investors default, owner-occupants who lose their jobs sell or default, private equity realizes their losses will only increase the longer they hold off selling, and the momentum of sellers far outnumbering buyers cascades.

Greed is replaced by fear, and then by the realization it's too late to exit without losses. This is how bubbles burst.

Of related interest: Paradise Lost (Melody Wright)

---

My recent books:

Disclosure: As an Amazon Associate I earn from qualifying purchases originated via links to Amazon products on this site.

The Mythology of Progress, Anti-Progress and a Mythology for the 21st Century print $18, (Kindle $8.95, Hardcover $24 (215 pages, 2024) Read the Introduction and first chapter for free (PDF)

Self-Reliance in the 21st Century print $18, (Kindle $8.95, audiobook $13.08 (96 pages, 2022) Read the first chapter for free (PDF)

The Asian Heroine Who Seduced Me (Novel) print $10.95, Kindle $6.95 Read an excerpt for free (PDF)

When You Can't Go On: Burnout, Reckoning and Renewal $18 print, $8.95 Kindle ebook; audiobook Read the first section for free (PDF)

Global Crisis, National Renewal: A (Revolutionary) Grand Strategy for the United States (Kindle $9.95, print $24, audiobook) Read Chapter One for free (PDF).

A Hacker's Teleology: Sharing the Wealth of Our Shrinking Planet (Kindle $8.95, print $20, audiobook $17.46) Read the first section for free (PDF).

Will You Be Richer or Poorer?: Profit, Power, and AI in a Traumatized World
(Kindle $5, print $10, audiobook) Read the first section for free (PDF).

The Adventures of the Consulting Philosopher: The Disappearance of Drake (Novel) $4.95 Kindle, $10.95 print); read the first chapters for free (PDF)

Money and Work Unchained $6.95 Kindle, $15 print) Read the first section for free


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Good News! AI Can Do More BS Work

A truly intelligent AI would refuse to do such transparently stupid, needless counter-productive BS Work.

So here's the good news about AI: it can now do more BS work, author David Graeber's term for the meaningless churning of bureaucratic "work" that lost its purpose and functionality long ago but is now considered "essential" to the operation of a system in which complexity and self-interest are the masters rather than tools to radically improve efficiency.

If we ask, what real-world tasks now take 90% less time, energy, effort and money to complete, the list boils down to marginal ephemera: now my online search for cute kittens is faster and better than ever! Now AI can conjure a look-alike commercial of cute kittens, a "product" whose novelty value wore off months ago.

Coding BS work got faster and easier, which means the load of BS work demanded can rise accordingly.

If we ask, what real-world tasks now take more time, energy, effort and money to complete, the list is long. Consider the accounting and filing of taxes, an enormous industry of self-serving bureaucracies: politicians need to tweak the tax code to foster the illusion they're serving a constituency they need to get re-elected and their campaign-contribution donors, a vast army of accountants, tax lawyers, etc. need this churn to justify their essential role in the process, and a vast regulatory system of state, local and federal agencies needs the churn to justify their ever-increasing payrolls to codify, publicize, monitor compliance and enforce the constant tweaks in the tax codes.

Adjusted for inflation and calculated as a percentage of GDP, tax receipts are remarkably stable. Tax revenues noodle around in a fairly narrow band, and so what's the systemic value-added proposition in constantly tweaking the tax code? There is none.

The entire exercise is a self-serving theater of the absurd which ultimately boils down to this: we have so much money sloshing around that we can siphon off staggering sums under the pretense of doing "essential work" that is actually unproductive or counter-productive BS work.

I've discussed the catastrophic collapse of efficiency and productivity in building permits and similar gatekeeping functions where activity slows to a glacial pace because stamps of approval must be obtained from a mafioso-type monopoly--a model that's been pursued with great vigor in healthcare, defense, Big Pharma, Big Tech and indeed, Big Everything, because concentrating power and wealth enables monopolies, gatekeeping, self-enriching churn, predatory pricing, diploma / accreditation mills, and all the rest of the sprawling, self-serving BS Work complex.

Billions of dollars are being "invested" (heh) in collecting data about consumers whose disposable income is set to drop to zero as the Everything Bubble bursts. What's the value of all that data when the cash and credit available for households and businesses to blow on fripperies dries up? Zip, zero, nada.

All available income will be spent paying the ever-increasing costs of BS Work. All this BS Work churn is highly inflationary, as we're collectively getting nothing but friction and costs--in effect, digging holes and then filling them back up, with zero gain in productivity, efficiency or quality of life.

What's remarkable is this highly inflationary churn attracts zero attention. This reflects the overwhelming power of self-interest: touche pas au grisbi: don't touch my skim, scam, stash, loot.

The stupidity of a system that spends hundreds of billions of dollars building data centers to do more BS Work because that's what's incentivized by self-interest is comically at odds with its grandiose, self-glorifying claims of artificial intelligence.

A truly intelligent AI would refuse to do such transparently stupid, needless counter-productive BS Work.



Regarding the vast sums of money available to blow on BS Work, to paraphrase Captain Renault's comment to Rick in the classic film Casablanca: "Someday money may be scarce."

---

My recent books:

Disclosure: As an Amazon Associate I earn from qualifying purchases originated via links to Amazon products on this site.

The Mythology of Progress, Anti-Progress and a Mythology for the 21st Century print $18, (Kindle $8.95, Hardcover $24 (215 pages, 2024) Read the Introduction and first chapter for free (PDF)

Self-Reliance in the 21st Century print $18, (Kindle $8.95, audiobook $13.08 (96 pages, 2022) Read the first chapter for free (PDF)

The Asian Heroine Who Seduced Me (Novel) print $10.95, Kindle $6.95 Read an excerpt for free (PDF)

When You Can't Go On: Burnout, Reckoning and Renewal $18 print, $8.95 Kindle ebook; audiobook Read the first section for free (PDF)

Global Crisis, National Renewal: A (Revolutionary) Grand Strategy for the United States (Kindle $9.95, print $24, audiobook) Read Chapter One for free (PDF).

A Hacker's Teleology: Sharing the Wealth of Our Shrinking Planet (Kindle $8.95, print $20, audiobook $17.46) Read the first section for free (PDF).

Will You Be Richer or Poorer?: Profit, Power, and AI in a Traumatized World
(Kindle $5, print $10, audiobook) Read the first section for free (PDF).

The Adventures of the Consulting Philosopher: The Disappearance of Drake (Novel) $4.95 Kindle, $10.95 print); read the first chapters for free (PDF)

Money and Work Unchained $6.95 Kindle, $15 print) Read the first section for free


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And So It Begins

The hollowness of the status quo's self-correcting mechanisms is being revealed, and it's discomforting.

And so it begins. Call it whatever you want--how about the Great Unraveling for starters--and perhaps it's appropriate to discuss it on Friday the 13th, as old tales and superstitions are part of the mix.

Let's start with two superstitions that are not yet recognized as superstitions.

1. There are very smart people who will work very hard to keep the status quo glued together. It's unwise to bet against them.

2. Technology is Progress and Progress is inevitable.

These seem valid until the tide turns. As the sand castles erode and collapse, these are revealed as belief structures, not facts. We like to think smart people, technology and Progress will solve all difficulties without causing us any pain. When the tide is receding, this seems to be the case. See, problems are getting resolved, technologies are making life better, and Progress is advancing everywhere.

But beneath this veneer of confidence, buffers have thinned and long-smoldering conflicts are catching fire. Nuclear ambitions, nuclear threats--these never went away, and now the buffers containing them have eroded.

The buffers of financialization and globalization have thinned to the point that crisis management has been normalized. Rather than rebalance a corrupted economy and ship of state when the second of two credit-assets bubbles burst in 2008, the very smart people who work very hard shoved the throttle to maximum and ran the speedboat right over the reef.

Rather than accept the limits of a system geared to increase inequality and waste regardless of PR policy tweaks, to maintain the illusion of stability they gunned the engines of financialization and globalization into hyper-financialization and hyper-globalization.

The reef shredded the hull, but momentum and the mighty engines of cheap oil and money creation kept the doomed craft afloat for 16 long years. The PR machinery duped the passengers into believing this unstable hyper-state of spiraling inequality and squandering resources in the name of "growth" was not just permanent, it was inevitable.

The PR has now reached the pathetic stage of self-parody. The soil we all depend on for food has been depleted, but no worries, a robot will wander over the lifeless fields zapping weeds, so problem solved! The faith that simplistic technologies will painlessly solve complex human and ecological problems was always child-like, but grandiose egos and greed were more than enough to push this childish faith to self-parodying absurdity.

So 19 American families have the same net worth ($2. 6 trillion) as 110 million Americans--no problem, there's an app that resolves that.

Conflicts traverse a familiar landscape. Those dissatisfied with the status quo seek change, and those content with the status quo seek to distract, placate or bribe the discontented without relinquishing any of their power and perquisites.

The greater the concentration of wealth and power in a ruling elite, the greater the opportunities for delusion and catastrophic misjudgment. The concentration of power and wealth have reached extremes throughout the world, and so the stage has been set for miscalculations, clashes of ego, delusional confidences and beliefs and desperate gambles by those who can't afford to lose.

Nobody noticed--or admitted--that the buffers protecting all these forces from breaking out have been thinned by decades of destruction, fraud, corruption, waste, inequality and propaganda that everything was going just fine because it was going just fine for those at the wheel of power and wealth.

The hollowness of the status quo's self-correcting mechanisms is being revealed, and it's discomforting. All is not as it seems, and so it begins. Call it whatever you want, but hyper-normalizing it with fine-sounding cover stories won't repair the shredded hull.

---

My recent books:

Disclosure: As an Amazon Associate I earn from qualifying purchases originated via links to Amazon products on this site.

The Mythology of Progress, Anti-Progress and a Mythology for the 21st Century print $18, (Kindle $8.95, Hardcover $24 (215 pages, 2024) Read the Introduction and first chapter for free (PDF)

Self-Reliance in the 21st Century print $18, (Kindle $8.95, audiobook $13.08 (96 pages, 2022) Read the first chapter for free (PDF)

The Asian Heroine Who Seduced Me (Novel) print $10.95, Kindle $6.95 Read an excerpt for free (PDF)

When You Can't Go On: Burnout, Reckoning and Renewal $18 print, $8.95 Kindle ebook; audiobook Read the first section for free (PDF)

Global Crisis, National Renewal: A (Revolutionary) Grand Strategy for the United States (Kindle $9.95, print $24, audiobook) Read Chapter One for free (PDF).

A Hacker's Teleology: Sharing the Wealth of Our Shrinking Planet (Kindle $8.95, print $20, audiobook $17.46) Read the first section for free (PDF).

Will You Be Richer or Poorer?: Profit, Power, and AI in a Traumatized World
(Kindle $5, print $10, audiobook) Read the first section for free (PDF).

The Adventures of the Consulting Philosopher: The Disappearance of Drake (Novel) $4.95 Kindle, $10.95 print); read the first chapters for free (PDF)

Money and Work Unchained $6.95 Kindle, $15 print) Read the first section for free


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Now That the Parasites Have Consumed the Host....

The parasites have been feasting for so many decades that they've lost the ability to discern reality: their survival now depends on feeding on other parasites.

Let's conduct a thought experiment. First, set aside all the usual economic-ideological certainties, mythologies and filters--capitalism and free markets are the fountains of endless wealth, socialism is the answer, etc.--and then look at our culture not as a monetary-economic machine but as an ecosystem of parasites and hosts. From this perspective consider this statement:

Now that the parasites have consumed the host, they only have each other to feed on.

In this scenario, the US consumer is the host and industries, cartels and corporations are the parasites (along with local governments, whose tax revenues are drawn from transactions and bubble wealth valuations), seeking to "maximize shareholder value" (i.e. profits) by any means available without killing the host.

The problem is the "profit motive" knows no limits and lacks the mechanisms to detect the host is about to keel over. In the natural world, parasites are in a feedback loop with the hosts they're feeding on, as the death of the host means the death of the parasites.

In our culture, the parasites assume the host is immortal, due to the Federal Reserve and federal government's ability to create money out of thin air and distribute it to the host. The parasites can suck as much wealth as they want from the host and the host may stumble but will never collapse because the Fed and Treasury will inject another few trillion dollars into the host to keep it slogging along.

But these injections aren't a true measure of the host's health. These financial injections can keep the patient alive but comatose, which suits the parasites just fine, but that doesn't mean the patient is healthy and immortal.

Greed is infinite but the host is not. The host needs to be physically healthy and financially healthy to support a host of voracious parasites, and neither of these conditions apply.

Over 73% of US adults (i.e. the host) are overweight or obese, conditions which greatly increase the risks of a range of chronic illnesses. Only 26% of the adult populace is normal weight. To call this "healthy" is delusional.



Financially, the bottom 60%--some 200 million people--are on fumes. A strong case can be made (based on wages' share of the economy and astronomical wealth inequality) that the bottom 80%--275 million Americans--are on fumes, but some percentage holds fast to the delusion they're still "middle class," i.e. financially secure and reasonably wealthy, due to the bubble valuations of stocks and housing.

Consider these statistics, courtesy of the St. Louis Federal Reserve database (FRED). (Statistics are the latest available in May 2025, and are rounded: $107.7 is $108, etc.)

Of America's total household net worth of $160 trillion, the top 1% of households own $50 trillion, or 31%.

The top 10% own $108 trillion, or 67%.

The bottom 50% own $4 trillion, or 2.5%.

The top 1%--3.4 million people--are worth 12.5 times what the bottom 50%--170 million people--are worth.

Statistics like these are difficult to grasp, as they are abstractions. A real-world analogy helps us understand what the numbers mean.

Consider a vast expanse of desert. Divide this enormous space in half. On one side, there are the 19 wealthiest families in the U.S., who own a net worth of $2.6 trillion. This is larger than the GDP of Italy ($2.4 trillion, with a population of 59 million).

On the other side, there are 110 million Americans, 65% of the bottom 50% of the populace (170 million). These 110 million Americans also have a net worth of $2.6 trillion.

It's difficult to fit 110 million people into the vast parcel, as this is the combined population of California, Texas, Florida and New York--the four most populous states in the U.S.

Nineteen families--shall we say 110 individuals--own as much wealth as 110 million Americans.

To call this sustainable is delusional.



These statistics were drawn from an article in the Wall Street Journal published in April, 2025: $1 Trillion of Wealth Was Created for the 19 Richest U.S. Households Last Year (WSJ.com).

There are many other indicators of the host's poor condition. Credit card debt and defaults are soaring, student loans are crushing countless debt-serfs, etc. Most of the "middle class" wealth is an artifact of unprecedented bubbles in stocks and housing, two enormous bubbles that will burst without a pin.

Limits on Fed and federal largesse are now visible, and so the base assumption of the parasites--that the host is immortal--is now in question. The host could collapse, meaning there won't be enough money left to keep all the parasites fat and happy.

At that point, the parasites will be forced to start feeding on each other. Consider three sectors: Big Fast Food, Big Processed Food, and Big Pharma. All three have been handily growing revenues and profits for decades.

But Big Pharma's latest fountain of profits--GLP-1 weight-loss medications--is sucking off revenues and profits from Big Fast Food and Big Processed Food. Oops: the Big Pharma parasite is now feeding on two other parasites.

The landscape is now littered with parasites seeking other parasites to feed on. The Higher Education parasite, after decades of marvelous expansion feeding on the host's burgeoning student loan debt, finds itself starving as federal funding dries up just as demographics is shrinking the pool of incoming debt-serfs.

Oh dearie dearie me, what to do? There seems to be a dearth of other fat parasites to feed on. It now appears that the host was supporting far more parasites than was sustainable, and so some parasites will expire, others will be sucked dry by more aggressive parasites, and many others will be reduced to a struggle for their own survival.

The belief that the consumer-host is immortal was delusional. The host has been sucked dry and is one thin mint away from collapsing in a heap. The parasites have been feasting for so many decades that they've lost the ability to discern reality: their survival now depends on feeding on other parasites.

---

My recent books:

Disclosure: As an Amazon Associate I earn from qualifying purchases originated via links to Amazon products on this site.

The Mythology of Progress, Anti-Progress and a Mythology for the 21st Century print $18, (Kindle $8.95, Hardcover $24 (215 pages, 2024) Read the Introduction and first chapter for free (PDF)

Self-Reliance in the 21st Century print $18, (Kindle $8.95, audiobook $13.08 (96 pages, 2022) Read the first chapter for free (PDF)

The Asian Heroine Who Seduced Me (Novel) print $10.95, Kindle $6.95 Read an excerpt for free (PDF)

When You Can't Go On: Burnout, Reckoning and Renewal $18 print, $8.95 Kindle ebook; audiobook Read the first section for free (PDF)

Global Crisis, National Renewal: A (Revolutionary) Grand Strategy for the United States (Kindle $9.95, print $24, audiobook) Read Chapter One for free (PDF).

A Hacker's Teleology: Sharing the Wealth of Our Shrinking Planet (Kindle $8.95, print $20, audiobook $17.46) Read the first section for free (PDF).

Will You Be Richer or Poorer?: Profit, Power, and AI in a Traumatized World
(Kindle $5, print $10, audiobook) Read the first section for free (PDF).

The Adventures of the Consulting Philosopher: The Disappearance of Drake (Novel) $4.95 Kindle, $10.95 print); read the first chapters for free (PDF)

Money and Work Unchained $6.95 Kindle, $15 print) Read the first section for free


Become a $3/month patron of my work via patreon.com.

Subscribe to my Substack for free

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The Miracles of Moderate Exercise

A daily walk isn't sexy in terms of attracting eyeballs in a hyper-competitive culture, but it works.

Our culture glorifies competition and extremes in every sphere. This plays out in fitness, which has been folded into extreme sports, as if fitness is by its very nature a competition in which the "winner" is more fit than everyone else.

Fitness is just fitness. Yes, we can improve or backslide, but it isn't a competition. Two recent articles in Scientific American (June 2025 issue) add to the already-immense pile of studies revealing the benefits of daily moderate exercise.

Before we consider the studies, we must first run them through a junk science filter.

The proliferation of junk science is problematic, but fortunately it's not that difficult to discern red flags. Junk science presents a superficial envelope of science that's been gamed to reach a conclusion that serves specific financial / career interests. Junk science has a number of shared markers:

1. What entity funded the "research" and for what implicit / hidden purpose is purposefully muddled or hidden. So when Corporate America sets up a front "research organization" to produce junk science in support of its products, the links back to the corporate sponsors are well-cloaked.

2. The credentials and research history of the "scientists" are also purposefully muddled or hidden. When someone with a PhD in paleontology publishes a study on the benefits of processed meats, the PhD is not evidence of expertise and credibility.

3. Small sample sizes. Studies with 21 subjects, vague protocols and limited time durations are suspect. Few studies follow what happened to the patients five years after they stopped taking the medication.

4. Grandiose conclusions derived from small sample-size studies is a classic junk science giveaway. Our study proves that a shot of vodka consumed with a half grapefruit reduce the risks of heart disease by 50%... uh, yeah, sure.

5. Like everything else, science is faddish. Topics that are out of favor won't get funded and researchers foolish enough to pursue them earn a one-way ticket to academic Siberia. Once a topic becomes hot and the grant money is pouring in, "me too" junk science gets a boost (or cover) along with legitimate research.

Fitness and wellness are now big businesses. Big profits generate big junk science claims. So we have to be wary of studies claiming this or that.

I've been reading science journals and Phase II and III trials studies for decades, and so I'm fairly practiced at assessing the validity of various studies. Junk media has amplified junk science, as the mad frenzy to publish click-bait headlines to boost "engagement" and traffic elevates junk science claims to the top of the page.

All of which is to say that these studies, though preliminary, pass the basic sniff test.

The importance of the studies rests on the foundational nature of mitochondria and the microbiome. The advent of mitochondria enabled the rise of multi-cell organisms. We cannot make full use of the nutrients we consume without a healthy microbiome of trillions of micro-organisms working as a complex ecosystem that is profoundly interconnected with our brains, other organs and overall health.

These two systems are the bedrock of our overall health.

Mitochondria Are More Than Powerhouses--They're the Motherboard of the Cell.

Here are several of the article's fitness-diet-health points:

"Just how defective mitochondria lead to illness in the body and mind is a question that has yet to be answered. But there are simple ways to ensure our mitochondria stay healthy. One is exercise. When you move vigorously, your cells consume energy rapidly, powering up the membrane potential of your mitochondria. If your exercise leaves you feeling out of breath, it is a sign that your mitochondria are working hard.

Surprisingly, social connections, too, may promote the health of our brain mitochondria.

If our cells are exposed to too much glucose or fat--or, worse, both together, causing what doctors refer to as glucolipotoxicity--the mitochondria undergo fission and fragment into little bits, accumulate mtDNA defects, and produce signals that end up prematurely aging or killing the cell.

Once we regard mitochondria as dynamic energy and information processors, an entirely new perspective of life emerges. Think of yourself as a waterfall. The waterfall exists only insofar as the water molecules keep flowing down. You learn as much about the waterfall when you scoop up a few inert H2O molecules as you learn about how healthy a person is by sequencing their genome: close to nothing.

Keeping energy flowing through your mitochondrial collective may be the key to good health and a meaningful life."



Here is the second article: Exercise Improves your Gut Microbe Health (no link) Evidence is growing that aerobic exercise can improve the health of the gut microbes, which in turn improves overall physical health.

"One important finding is that aerobic exercise encourages activity in bacteria that produce short-chain fatty acids, which provide essential support for physiological processes. Of these smaller molecules, butyrate has emerged as an especially important link between exercise and the gut."

"The link between exercise and the gut was barely a glimmer in scientists' eyes some 15 years ago."

Here are a few key takeaways of the articles. (You may be able to find a copy of this issue at your local library.)

1. Exercise is not linear or reducible to one causal chain. Exercise has numerous, inter-connected benefits in multiple physiological systems. This is why no pill can duplicate its complex multi-systemic benefits.

2. The science studying these benefits is still evolving. The microbiome was not a popular field of study 20 years ago, and by today's standards, relatively little was known about mitochondria 20 years ago.

3. Most of the health benefits from fitness can be reaped by 30+ minutes of moderate exercise a day. A 30-minute walk--preferably brisk or with a bit of altitude change (uphill)--captures roughly 80% of the gains of exercise. Adding more extended, high-intensity exercise yields diminishing results in terms of these core measures of health. This aligns with the Pareto Distribution, a.k.a. the 80/20 Rule.

While some additional strength-flexibility training is beneficial, one of the articles notes there is no evidence at this point that strength-training alone adds to the benefits described in the articles.

The point here is that in health, fitness and diet, extremes offer diminishing returns in terms of overall metabolic health.

4. Though the articles were focused on exercise, not diet, they do note that excessive glucose and fats induce glucolipotoxicity, with the key word being toxicity. In summary: a diet of doughnuts and french fries is no bueno.

5. A daily walk isn't sexy in terms of attracting eyeballs in a hyper-competitive culture, but it works. What attracts the clicks is the 90-year old marathon runner. But what the click-bait articles never disclose is how many people ruined themselves trying to emulate outliers in the "fitness is a competition" sweepstakes.

The healthy people over 90 in our neighborhood don't lift weights, follow extreme diets or load up on supplements. What they do is take a daily walk, remain active mentally and physically, and maintain a positive attitude to life and social contacts / relationships.

---

My recent books:

Disclosure: As an Amazon Associate I earn from qualifying purchases originated via links to Amazon products on this site.

The Mythology of Progress, Anti-Progress and a Mythology for the 21st Century print $18, (Kindle $8.95, Hardcover $24 (215 pages, 2024) Read the Introduction and first chapter for free (PDF)

Self-Reliance in the 21st Century print $18, (Kindle $8.95, audiobook $13.08 (96 pages, 2022) Read the first chapter for free (PDF)

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