12 March 2021

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We go to bed so early during the work week, 8 or 9pm, often at T's insistence.  Sometimes I'm exhausted and fall asleep quickly.  Other times I stay up for a while, using my laptop and its backlit keyboard after all the other mammals have fallen asleep.  This has long been true, since the long-ago day when I gave up on trying to sleep in the same bed as T.  [We were never compatible at the task of sleeping in the same bed.]

Regardless of when I fall asleep, I usually wake up a few hours later, needing to pee.  Or perhaps I'm shaken awake by a strange or lucid dream.  Often I easily fall back asleep, but just as often I need a while to get back into sleep mode.  Sometimes I'm up for a few hours in the middle of the night before I get sleepy again.

I rarely worry about how much sleep I'm getting, especially now during Quarantine when I never have to be anywhere in the morning.  Even if I have a big meeting in the morning I know that I can sleep until shortly before it begins -- no commute, no need to shower -- or I can go back to sleep after it ends.  It's one of the plusses of Quarantine -- zero stress about getting enough sleep.

So, sometimes I nap in the afternoon, even on a work day.

On weekends at the condo, I'm usually motivated to stay up later so I can continue playing with toys, and/or listening to music, and/or watching TV -- I'm having FUN and want to continue having FUN and there's absolutely nothing I have to do the next morning, except perhaps to go back to the house by lunch time.  This means I'm usually sleep deprived when I return to the house.  I like to nap after I return, and I usually need extra sleep that first night back.

I still don't feel like time at the condo is just "normal", it feels like an escape from normal, with normal being work-chores-pets-T all squished together.  Especially during this second half of Quarantine, sometimes on my second day at the condo I have some lonely feelings, which also doesn't feel normal.  I think if Quarantine were over, I'd be on the hookup apps or making social plans when that loneliness strikes.  So, the loneliness is entirely situational.  I don't attribute it to a personality flaw, I don't "lose hope".  I just need more human touch.

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A person on Reddit told me she'd never heard of the phrase "couples privilege" and that I must have made it up myself.  LOL.  Her comment was downvoted.  She's apparently a huge practitioner of couples privilege, though.  It's funny how defensive we all get in the US when we're accused of having some privilege.  I think the concept can be overdone, and as the word "privilege" has accumulated negative connotations people have become more defensive about it.  But US culture is pretty much defined by privilege, both internally and externally.

I think for me, years of steeping in Left-wing discussions about various intersections of privilege is what led me to my Green Communism ethos -- my moral reasoning suggests to me that as a species we should limit our overall production to what is ecologically sustainable, and then share that production equally among all humans around the world.  To me it is so simple, but I didn't arrive at this conclusion until after living for half a century with other, less "radical" moral reasoning.  I was a libertarian at times.

My belief in or practice of relationship anarchism is another reaction to the various intersections of privilege.  Believing that relationships should be open and egalitarian.  Viewing monogamy as mutual sexual slavery.  These beliefs have also taken decades to evolve.  When I was younger I took part in ostensibly monogamous relationships, and my first long-term polyamorous relationship was an attempt at having a "primary" relationship with its own brand of couples privilege -- feeling like the most important boyfriend was a big deal to me back then.

Certainly living with T has required numerous compromises or diversions from relationship anarchism; my ideal has galloped far ahead of my reality.  And if I have another significant sexual/romantic relationship before I die, it may also require compromises or diversions from an ideal.  But T and I have also come a long way from where we started together.

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Without getting into names and details, there's a well-known editor, author, and essayist who got the boot from his longtime employer in part for referring favorably to a book called The Bell Curve.  I've never read this book, published in 1994 and updated two years later, but it has a horrible reputation on the Left for being racist.  Among certain groups, if you want to destroy the reputation of a public intellectual, all you have to do is say, "He agreed with The Bell Curve."  This book may have been the original Cancel Culture victim.  One of it's authors, Charles Murray, has become synonymous with racism on the Left.  (I don't know why the other, lead author, has escaped the same synonymal fate).

I was curious, in this period of accelerating Cancel Culture, whether Amazon continues to sell this book.  It does -- it's sold as an eTextbook, and from looking at the comments the book is required reading in many college-level courses.

82% of reviews of the book are 5 stars, only 3% are 1 star.  This is weird for a book that remains so controversial on the Left.  Why hasn't it been comment-bombed?

Believing in free speech -- you may recall I also read part of Rachel Dolezal's book and wrote about it in my LJ -- I want to take a look at this book also.  Is it really as bad as its reputation among the Left would have you believe?  Does Charles Murray deserve the everlasting cancellation that's been applied to him?

I worry that our definitions of racism, sexism, transphobia, and such have become way too arbitrary and expansive.  That if one member of an identity group claims that a behavior is offensive, then that behavior must be banned and anybody who partakes in that behavior should be fired or kicked out, their works of art taken down, their books removed from stores, etc.

How do we restore what I thought were the original goals of multiculturalism -- allowing each subculture to flourish in a shared commons -- while avoiding the multilayered oppression field that multiculturalism has generated?  As we opened the door to coexistent multiple cultures, we also allowed each of these culture's taboos to metastasize.  Instead of one set of cultural taboos, now every subculture is empowered to lay its taboos on everybody else.  It's an exponential fractalization of asymmetric taboo proliferation.  Heh, that's a wacky mouthful.

To somebody like me, it feels so retrograde because it was the dominant straight-white-Christian-capitalist-patriarchal culture's taboos that tried to keep homosexuality and polyamory hidden, that tried to keep women in their place, that tried to keep blacks as slaves, hispanics as seasonal/unskilled labor, native Americans on reservations, asians in Asia.

Multiculturalism was supposed to free the rest of us from the dominant culture's taboos.  But now, fueled by social media, multiculturalism is about forcing everybody to honor newly generated taboos from an expanding number of subcultures.

Instead of firing people for being gay, or refusing to hire them because they're not white males, now we have a much more complicated list of non-meritocratic criteria for hiring and firing.  Of course, the meritocracy has bias problems of its own ... but we haven't done away with hierarchy and status, instead we've made achieving and maintaining status much more complicated.

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Even as I feel irate about the lack of due process in kicking people out of their high-status jobs for violating newly generated and retroactive taboos, I also feel Cancel Culture distracts all of us from the more important struggles for ecological sustainability and transnational economic equality.

Somehow it is still not taboo to buy a gasoline car, for example.  Or to accumulate a billion dollar fortune.  Or to conceive a child when we already overpopulate the planet 1,000x.  It's totally fine to spend $500,000 (or more) on a house, if you can afford the mortgage payment, while other humans live on $1/day.  To live in a country that permits child poverty, even though it possesses $800,000 of wealth per household.  To attend highly selective universities that hoard gigantic endowments, while we have no national system to ensure quality primary school education for every child.

Why are tax cuts not taboo when we're running multi-trillion dollar annual deficits?

It's weird.  It's as though the capitalists want to divide us into little warring identity tribes, constantly fighting over whether somebody's behaviors have offended this or that identity tribe, as the capitalists continue to rape the planet and keep more and more of the resulting illegitimate wealth for themselves.
m_d_h: (Default)
Without the daily contrast against President Trump, big-state Democratic Governors are suddenly in big trouble -- Cuomo in New York is facing possible impeachment, Newsom in California is facing possible recall.  The contest for worst asshole in the US has switched its focus toward other deserving targets.  The outrage has to go after somebody!  Please don't make us wait until the next regular election to get rid of these assholes!
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I still write about it in my LJ because I care.  I don't care about it in the way I care about a partner or a pet, but in the way I care about a hobby.  Even as a kid I was fascinated by the stock market.  I'd read my Dad's daily Wall Street Journal newspaper and weekly Business Week magazine.  For a while I wrote my own weekly stock market newsletter for my Dad.  I created a mock portfolio and tracked it.  Knowing this about me, maybe you'll understand why I now consider myself On The Spectrum and OCD ;-)

One Christmas a good friend of mine recognized this interest in the stock market and gave me a book about the history of bear markets.  I suspect he had little idea himself of what he'd bought for me, he thought it a witty play on the gay male Bear subculture, but I truly appreciated the book and read the entire thing.

Knowing the history of bear markets, I've always been a conservative investor, because for much of my adult life the US stock market has been vaulting into bubble territory, testing previously unseen heights in overvaluation.  But this description gives away my bias -- my bias is not to think the stock market is always going up and up, but to think that people are becoming ever more stupid about investing their money in overvalued stocks.

One of my favorite measures of stock valuation has been the Shiller PE Ratio.  I've written about it explicitly or implicitly countless times in my LJ.  According to this measure, we're currently in the second largest stock market bubble in US history.  But there are other measures of valuation.  Famous stock investor and billionaire Warren Buffett looks to a Market Cap to GDP ratio.  According to this measure, the current stock market bubble is bigger than the Dot Com bubble of the late 1990s -- the total stock market capitalization has never been so large relative to GDP.

But the stock market is only one piece of the wealth puzzle.  There are other forms of wealth.  There's real estate, bonds, direct ownership of businesses, gold, Bitcoin, cash deposits.  The Federal Reserve keeps track of how much net wealth (assets less liabilities) is owned by US households and their dependent nonprofit organizations.  If I look at the ratio of net wealth to GDP, I see that the real estate bubble of the early 2000s was bigger than the Dot Com bubble, and our current combination of wealth bubbles (aka the Everything bubble) is the biggest ever.

US wealth is currently valued at 6x our total production.  It was a bit less than 5x at the peak of the real estate bubble in early 2007.  It was 4.5x at the peak of the Dot Com bubble at the beginning of 2000.  From 1950 to 1996, our wealth was never valued at as much as 4x our total production.

What does it mean to value our assets so highly?  So much more highly than the pre-bubble period?

Econ 101 would tell us that the people with extra cash would rather spend that cash on symbols of wealth than on present consumption, that's what pushes up the "price" of wealth.  The value of wealth has increased because the demand for wealth has increased.  It's ... sort of a self-fulfilling prophecy.  So many people want to pile up more wealth, that together they've created a social illusion that their pile of wealth is increasing.

What is the value of Tesla?  Normally, you'd think the value of a company relates to how profitable it is.  If you buy the company, how much profit will it make you?

What is the value of a house?  Normally, you'd think the value of a house relates to the quality of life it gives you while you live in it, or the amount of rent you could charge if you rented it.

What is the value of a bond?  Normally, you'd think the value of a bond is the annual interest it pays you in return for your money.

But during bubble times, people shift into a different mode of valuation.  They think the value of something is what somebody else will pay for it in the future, and they assume that the current trend of increasing valuation will continue into the future.  They assume that stock prices will go up 8% per year, on average, no matter what.  They assume that real estate prices will similarly climb, no matter what; that bond prices will similarly climb, no matter what.  It's a mode of valuation that is cut off from the underlying fundamentals of profits, rentals, or interest payments.

From the mid-1990s through the present day, investors have cared more about chasing upward momentum than about underlying value.  So people continue to demand more wealth than actually exists, because that's what they collectively want.  The gigantic financial industry in the US -- representing 21% of GDP -- caters to this demand for wealth, and produces our social illusion of wealth.  The size of this wealth illusion is now about $55 trillion in the US -- this is the amount by which our net wealth would fall if we returned to the traditional valuation methods of profits, rentals, and interest payments.

We've had some moments when our collective illusion threatened to wear off, when valuations plummeted toward more rational levels.  These moments have been treated as financial crises, requiring the Federal Reserve to create massive amounts of new cash as collateral for the continued wealth illusion.  In other words, more and more of our illusory wealth is made up of cash instead of stocks, bonds, or real estate.  But cash doesn't produce anything!  Cash has no value, per se, not in the traditional sense.  Cash is economically inert.  Cash doesn't make anything to sell, it doesn't provide a space to live in, it doesn't pay interest.  And when the cash bubble pops, there won't be any way to bail it out, because if the value of cash falls, printing more cash won't help.

So we're probably entering the final rounds of this game, in which we are basing our trust in illusory wealth not on our overvalued assets, but on these pieces of paper (cash) that have no intrinsic value at all.  Maybe the next time our collective wealth illusion threatens to wear off, pumping more cash into the system won't help anymore, because it will be our illusions about cash that have failed.
m_d_h: (Default)
And it's not about any of the usual things or anybody you know.  I'm alone in my room with the door closed until I can return to work.
m_d_h: (Default)
I thought I'd work a full day because I wasn't going to the condo, but instead this afternoon I was drafted into helping T prepare for B's 40th birthday party, which was OK.

I spent two hours of the afternoon retrieving B from his apartment -- traffic sucked like I haven't seen it suck since before Quarantine.  WTF, where were all these people going?  Is the Pandemic unofficially over now?  For the last mile to his apartment I could've walked faster.

But, it's OK, I got to talk with B on the way back, and then he was here with me and T, and T had been cooking and baking up a storm, and the dinner was tasty, the cake was awesome, socializing was good.

Tomorrow I'll head to the condo for some Time to Self.

I'm so tired!  We're all chillin' now, I did the dishes while they finished up their conversation about their jobs.  I hate jobs, LOL.

Before getting in the car I put the FMJ back on after two nights off, it seemed that was long enough for the initial chafing to heal.  My skin will toughen up, it always does.

It's good to see B feeling relaxed, good to see T & B getting along -- compersion.  I know I flip back and forth on this over the years, but I'm fully supportive of their2 relationship when they're getting along, like they are now.  It's a win-win-win.

Heh, they stopped talking and now I'm hearing fabric moving on fabric and kissing sounds from the kitchen, LOL.  A bit envious, but not jealous, there's a difference.

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