The degree to which individuals and society are ill-prepared for unexpected events is a testament to the understanding and value of saving.
In the modern financial era post-1900s, there has been a campaign against saving. So-called "economists" believed that saving causes money to sit "unused" and claim that this damages everyone's wealth. Truth is that these pseudo-economists were mostly businessmen, who were trying to figure out how to make more money for their own businesses. They need consumers to spend, spend, and spend. So that they can become rich.
Unfortunately, they found a way to force people to spend, and that is by constantly destroying the value of people's money. With the creation of the federal reserve, they had the infinite power to force people to spend. This is because, "a penny saved, is a half-a-penny earned, and 1%-of-a-penny earned a few decades later". Saving money became stupid due to these greedy businessmen acting as "economists".
We know this, but as saving money fell out of popularity, so did planning. Because the safety net of efficient saving has been replaced by the inefficient safety net of insurance, or no safety net at all. Insurance creates no wealth, adds no value, and simply acts to distribute to mitigate disaster by redistribution. It may be more helpful than no insurance at all, but insurance is a nasty and necessary middle-man when society cannot save.
Saving and planning are not feasible in this environment. Hospitals saving money for a rainy day makes no sense, when the money is worth 1% of what it was, decades later. Individuals can't do it either, with their savings rates at all-time lows. People live paycheck-to-paycheck, being swindled of their value as every second of every day passes. Forever enslaved.
Inability to save, is a form of slavery, as you are forced to work because nothing you earn will retain it's value. People are even FORCED to put money into the stock market, just to keep up with inflation. This is, again, extremely ideal for the greedy businessmen acting as "economists". They own these companies. They want people to buy stocks. In fact, "401k" has become a thing. A disgusting part of retirement planning, that only further makes them richer at the risk and expense of workers. When a 401k crashes, the businessmen laugh all the way to the bank, while blaming "the market". Meanwhile, the poor worker suffers.
As we see now, in the U.S. in particular, but around the world, people with a lack of savings due to these economic policies being starved, crushed by a global pandemic, it's more clear now than ever that a system that doesn't allow human beings to save for their future or save for disaster, creates an extremely fragile system. There was no "coronavirus insurance policy" everyone signed up for. If we simply HAD SAVINGS we could use our own cash as our insurance policy. The reality is, there are far more disasters possible in life, than any insurance will ever want to cover, or if they did, they would rob us blind in insurance payments, then deny our claims in court. This isn't safety. This is exploitation.
Savings is the absolute most flexible insurance policy possible. With savings, you can survive disaster.
We're feeling it now, and perhaps, this is our greatest opportunity to say: Make Savings Great Again.
It starts with Bitcoin.
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