A Safety Net for America


There's a popular martin. Luther king junior quote that lays bare the false promise of the american dream. He said it's all right to tell a man to lift himself up by his bootstraps. But it is cruel just to say to a bootlace man the oughta lift himself up by his own bootstraps now because it was martin luther king junior's birthday recently because we the people seem to have finally elected policymakers who care that are growing inequality is quite literally killing. Many of us thought it prudent to talk about safety nets for boot lewis americans. A safety net traditionally provides a margin of protection against the fluctuations of everyday life the highs and lows it allows for room for error. It helps you endure and designed purposely. It lets you succeed. Safety nets come in a variety of literal and figurative flavors artist. We're talking about actual rope. You can fly higher knowing you won't die if you slip. If you're an investor. A percentage of capital that remains fluid in cash or bonds. So you can make other bets on crazy biotech companies. Or i guess game stop is what we're doing this week if you're doomsday prepar. Who's pretty convinced. It's the end times but safety net might be an underground bunker in your backyard packed with ken. Paris and dynamite. They'll safety nets are complicated. Systemic concept but the first principles are easy to understand if millions of americans are hungry without water without health insurance and healthcare without childcare without wages. Whatever we're doing is working and because we live in a interconnected society not a spaceship made for one. The unequal distribution of safety nets actually affects everyone as america continues along in a quote unquote k shaped recovery or enormous wealth gap continues to grow. Thus many americans haven't had to think about a proper. Can i buy food this week. Safety net for some time now while others are further away from one than ever before white people are for the most part born with a safety net. The color of their skin. This simple unearned. Genetic inheritance provides a set of boots enabling most white people to simultaneously feel protected from sudden life changes and to take risks and embrace opportunities all relative but why people like me and stuff away a bunch of cash and then take advantage of opportunities like nonexistent interest rates and skyrocketing market values to remortgage houses and by tesla or bitcoin because the goal is growth through compounding interest. Not figuring out how to pick up free school lunches during your twelve hour onsite during a pandemic in a world that is more volatile than ever with list of externalities that includes invisible novel viruses in your living room and workplace and actual oceans. Making their way into your kitchen. It's more important than ever that we think through what it means for everyone to have a safety net as morgan hausa. We'll tell you a functionable. Reliable margin of safety means not having to sell your stocks and interrupt compounding interest when shit hits the fan and compound interest is incredible. It's everywhere for example. The ice age didn't happen because it suddenly got super cold outside. It happened because the summers were gradually and consistently more tepid. And the ice just eventually didn't melt but compound interest goes both ways. I mean look at the climate crisis or the continued state of black housing landownership food. College debt and education positive compound interest means not having to choose between food and rent. You don't even have to think about that when you don't have to worry about and food you can do so much more. It means building an infrastructure and culture of wellness and prevention. Not just going to the emergency room with no idea why your chest hurts because and this is vital to understand. It's not usually the suddenly sick person paying that bill. Ambulance rides and emergency room. Visits that are unable to be paid for by. The patient are often paid for by the hospital with something called charity. Care and that's subsidized by state grants basically your tax dollars of course sixty percent of the time. That sick person isn't white and this is the system. We've designed person doesn't have a safety net. A safety net means paying wages that allow for less congested three generation living conditions that viruses can't thrive in that allow for healthy plant based foods and building a strong microbiome that allow for not living next to fucking fossil fuel facilities and uncapped wells. So kids can grow and learn and breathe and you'd be amazed at what kids can do when they can grow and learn and breathe. I means paid sick. Leave for the days. You just can't do it whether you're suffering physically or mentally so you can do your best work on the other days. A safety net is paid parental leave for welcoming child into your family. It's childcare once you go back to work in preschool. After that for your mental health for your performance at work for your child's future it means giving every american child a few thousand bucks every year starting at birth to be spent indoor invested however. The parents see fit for food now and for turning on that fiscal compound interest for the rest of their lives. We can do better. We can make sure people land on their feet and that the entire society benefits society that decides that safety net's of every kind should be universal. We'll find her citizens able to reach further and faster and will suffer for less when faced with a pandemic. your challenge is to consider the safety nets available to you today and to manifest ways. You can extend those to your business in your community to lift all boats a bunch of guys longtime ago said the life liberty and the pursuit of happiness are unalienable. But i'll tell you this. Hungry person has no liberty no freedom no safety net to millions of americans have no liberty to speak of martin. Luther king talked about that in washington to paraphrase here. He said ever since the founding fathers of our nation dreamed this dream. America has been something of a schizophrenic personality on the one hand we have proudly professed the noble principles of democracy life liberty and the pursuit of happiness. But on the other hand. We have sadly practiced the very antithesis of those principles. Now more than ever before. America is challenged to realize it's noble dream for the sheep of the world. Today does not permit us the luxury of an anemic democracy. Our hours late and the clock of destiny is ticking out. We can't expect people to solve existential crises like climate change and they can keep their water turned on. So i asked today look to your own safety nets and find ways to extend them to your neighbors

Coming up next