On Gabrielle Zevin’s ‘Tomorrow, and Tomorrow, and Tomorrow.’

On Gabrielle Zevin’s ‘Tomorrow, and Tomorrow, and Tomorrow.’

All art is designed to alter the audience’s minds.

Even more accurately: all art is designed to alter the physical structure of the audience’s brains.

Art reshapes the biological world. And from that foundation, perchance, art can change the world at large as well.

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At the simplest level, the changes wrought by art are memories. Each new memory is created through physical changes in the composition of our brains – freshly pruned connections between neurons, or new synapses that begin reaching out from one cell to another. The pair become more or less likely to fire in concert.

If ever an artwork doesn’t change the physical structure of your brain, then you won’t recall having experienced it. If you happen to see that painting, read that book, or hear that song again, it’ll be as though it were the first time.

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Most artists hope to create works that will make more significant changes in their audience. Not just that the artwork will remembered, but that the audience might think of the world differently, perhaps even act upon newfound philosophical priorities.

I played a lot of video games while growing up, including first-person shooters like Wolfenstein, Doom II, and Golden Eye. But despite the plethora of violence that I immersed myself in – artworks that constantly suggested I could murder my problems – I’ve never wanted to hold a gun. Luckily, video games didn’t change my brain that way.

But a peculiar commonality between all the video games I played did fundamentally alter my view of the world.

By the time I started playing, most computer games had save functions. A player could create a backup copy of their game’s progress just before a tricky section, and then the player could repeat the ensuing challenge again and again, loading the saved copy after each new mistake while attempting to complete that section of the game perfectly. (A mid-nineties rock album – I believe by the band Ben Folds Five – toyed with this idea of computerized perfection by claiming in the liner notes that each measure of every song was recorded in a separate take, all to give listeners an experience absolutely free of musical mistakes.)

Over many years playing video games, I grew so accustomed to this opportunity to save my progress and repeat sections again and again – whether in openly violent games like Doom and Diablo, in games where the violence was partially abstracted like Civilization 2, or even in peaceable games like Sim City and Sierra’s pinball simulator – that I felt confident whenever I played. I was absolutely certain that I’d eventually get things right.

In video games, a player could always try again.

And so an awful feeling gnawed at me when things went wrong in my day-to-day life, outside the world of games. Whether it was asking someone to prom, running poorly in a track meet, going through a bad collegiate break-up, or a depressed semester that culminated with my research advisor asking for a progress report about the work I (hadn’t) done in his laboratory: I wanted to reload my save file. If I were playing a game, then I’d be prepared. I could zip back and attempt the previous few hours – or months – again.

With repetition, I’d get it right.

Which isn’t a desire to re-live the past, exactly. Instead, video games cultivate a desire to bring all our present knowledge with us. The past, but blessed with portents from an unrealized future. If I’d gotten to try again, I would’ve been a different person – wiser, more experienced – who could make different choices from my prior self and thereby reap a more glorious present.

In his game Braid, Jonathan Blow describes this dream:

Tim and the princess lounge in the castle garden, laughing together, giving names to the colorful birds. Their mistakes are hidden from each other, tucked away between the folds of time, safe.

While playing Braid, players don’t even have to save their game. There are six buttons: left, right, up, down, jump, & “rewind time.” With any mistake – the game’s protagonist tumbling aflame toward the bottom of the screen – a player simply presses “rewind time” and tries again.

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Even midway through my life, I still experience this misguided desire. Perhaps it’s worse in people predisposed toward rumination. I find myself thinking about how phenomenally well I could re-live my youth, if I were able to keep my knowledge from all this practice that I’ve had living but was somehow given the chance to try again.

And that, to me, is the most horrible fallout from playing video games. They inculcated such a strong expectation that there would always be identical second chances. Not just the potential for forgiveness or redemption, but an opportunity for repetition until perfection.

I assume this sensation was experienced by people even before anyone played video games. I also assume it’s stronger now. And commoner.

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Still, there are certain types of artistic messages that video games convey more adroitly than any other media. When we play a game, we control what happens. Our impulses are reflected in movements on a screen. This is a powerful way to engender empathy.

First-person narration in books does something similar. At times I cringed, but I still thrilled at the protagonist’s misbehavior in Sara Levine’s Treasure Island!!! because I’d felt welcomed into her experiences. (A bold novel, since our culture considers Bukowskian misbehavior to be much less acceptable if described from a woman’s perspective – Anna Kavan’s Julia and the Bazooka was never granted the same cachet as William Burrough’s Naked Lunch.)

Even with the mind-control fungus in Hiron Ennes’s Leech, the first-person narration swayed me to root for the fungus’s destructively selfish pursuits.

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Nearly all the games made by the designers at the heart of Gabrielle Zevin’s Tomorrow, and Tomorrow, and Tomorrow have narratives that are rigidly circumscribed. A game’s protagonist might jump only when the player presses “jump,” but in this sort of game – heavily scripted, with a pre-programmed “correct” way to win – players have only the illusion of choice and freedom. The artwork’s audience is forced to follow a single structured path (much like how Mario can’t even turn back to revisit areas that have passed off the left side of the screen) if they want to experience the story.

The designers in Tomorrow, and Tomorrow, and Tomorrow don’t allow emergent behaviors into their games (which are generally the most interesting and / or bizarre aspects of artificial intelligence, all the strange interactions that occur when a sufficient quantity of simple systems concurrently pursue mathematically-designated goals. A few years ago, researchers O. Peleg & colleagues found that a very basic algorithm could replicate the gravity- and wind-defying stability of honeybee clusters. And a simple word prediction model – albeit trained on a huge trove of data – creates the lifelike creepiness of chat algorithms.)

In the games described in Tomorrow, and Tomorrow, and Tomorrow, a player’s choice is generally to either do the “right” thing, which will allow the game to progress, or to stop playing and never reach its ending.

Which does carry an inherent drawback. Artists want for an audience to be able to experience their creations. But when that artwork is a game, many people find themselves excluded.

Recently, my youngest child started drawing video game levels on paper (despite living in a house without a television and having never played that type of game), so over spring break I invited them to sit in front of my 17-year-old laptop computer and play Braid. I thought this would be a good introduction to gaming because there’s no risk – with the “rewind time” button, the game’s protagonist can’t die.

But my kids couldn’t coordinate the button pressing required for jumping between platforms. Neither can my spouse. I think Braid is a fantastic piece of artwork, but without me sitting with them, ready to press the buttons at the tricky parts, they wouldn’t get to experience it.

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The game Limbo, like Mario, is a left to right sidescroller, and the player begins by moving through a forest world where other children have set murderous traps or will attack you when you approach. Limbo is replete with puzzles that can’t be solved without multiple attempts – often the signs of danger won’t be noticed until you’ve succumbed to them several times – forcing the player to watch their protagonist die again and again.

I felt like the experience of playing was changing me, making me inured to the game’s incessant horror and tragedy as I continued. If the final levels of the game had included puzzles in which the player had to move from right to left and construct traps to thwart the next “generation” of characters attempting to escape the forest, I think the game would’ve been more compelling. It would have had a closed circle of meaning and conveyed a powerful message about trauma and its aftereffects.

My youngest child is in a multi-age classroom where several students are lashing out in pretty terrible, disruptive ways – my kid has often sobbed at bedtime while describing things that happened. But the outbursts are coming from kindergartners and first-graders. No child that age wants to be terrible! No child wants to rage and scream and invite punishment. It takes problematic occurrences earlier in life, and not enough support in the moment, for a child to devolve to that.

A game like Limbo (with a more compelling ending) could readily teach this, because players could reflect upon the changes that had occurred in their own behavior from the beginning to the end of the game.

Video games, by putting us in “control” of characters in desperate situations, can demonstrate how close we are to ethical slips. Video games are the art form best suited to inspire their audience to reckon with their own behavior. (Admittedly, players don’t always undertake this reckoning.)

For instance, the game Grand Theft Auto 5 asks players to torture a character in order to continue the story. I don’t think that kids should have been exposed to that game, but for adult audiences, I believe there’s real value in demonstrating what regular people will do when they feel trapped or bullied into unethical behavior. In demonstrating what you might do.

There was no way to experience the rest of the game without committing torture, but then again, GTA was just a game – not getting to experience the rest of the plot isn’t a huge punishment, is it? And even so, most players chose to torture. How much more severe do you think the pressure would be if you’d devoted your life to a certain career and then felt like all your progress – your income, your identity – would be wrenched away from you if you failed to conform with a culture of unethical behavior?

Occasionally, when other volunteers visit the county jail to help with my classes, they’ve expressed disappointment afterward that I’m always friendly and polite with the correctional officers who work there. I ask about the COs plans for their weekends (at the jail, staff are typically assigned a 9-day work week, with three weekend days and a back-to-back pair of “Wednesdays” mid-week, so you never know how close somebody is to their own personal Friday). Everyone who volunteers at the jail is, like me, extremely liberal, and sometimes the other volunteers say that it feels disquieting to be chummy with the people administering state-sponsored violence and incarceration.

But it’s not the fault of anyone who work in jail. Honestly, the jail staff is in jail every day they go to work, and we live in a country where most people have to work in order to have enough to eat. (I’m very privileged, but much of my extended family has been on food stamps at some time or other, and the money always ran out before the end of the month.)

Even at jails or prisons where the staff are openly abuse toward inmates – or police departments that cultivate a culture of brutality – it’s worth considering what pressures caused people to break and behave that way.

Video games – with their twitchy dexterity challenges that cause our hearts to race – can demonstrate the ways that we, too, might break.

Playing Minecraft at the local YMCA, I watched my gentle vegan child swing a pickax at a sheep.

If I were playing, I’d probably do it, too. Just to see what happens.

The moving pixels stopped moving. The sheep became a resource.

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I haven’t learned to program yet, but the first game I make will probably be called Psalmist, where players write poems to conjure forth a deity. The deity would become the player’s character, with its controls made intentionally buggy in ways that reflected the player’s style of worship. If a player wrote something like Psalm 137 (“Happy shall he be, that taketh and dasheth thy little ones against the stones.”) they might reap a god wrathful enough to lunge and squash the player’s own people even as the player attempted to navigate toward an enemy city.

Automated text analysis isn’t good enough to understand poetry yet, but a simple statistical model could register the emotional tenor of the words, whether there was frantic or lugubrious pacing, tight or loose syntax.

The main problem, in making a game like that, would be a question of artistic intent: it’s easy to imagine incorporating deities into strategy games like Starcraft or Civilization, but do we need another work of art that reinforces players’ assumptions that it’s good to conquer the world? To extract every resource and crush enemies?

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Near the end of Tomorrow, and Tomorrow, and Tomorrow, a protagonist says,

Art doesn’t typically get made by happy people.

And while it’s true that all art aims to change the world, I think it’s possible to simultaneously experience both happiness and a recognition that the world has many flaws.

When my spouse and I moved into our home, I remarked that our bedroom ceiling looked wrong. “The round light fixture, the square walls, they don’t look right. There ought to be a maze.” Every time I looked at that ceiling, something felt off to me.

Then, two years later, I painted the maze that I thought should have been there all along. (I painted while standing precariously on a folding chair, and at one point slipped and dumped half a can of black paint on my face and dreadlocked hair. The next day I was telling this story to a local poet, and he said, “Oh, and it’s not like you even needed to paint it, which probably makes it worse.” Except that I did need to paint that ceiling – it hadn’t looked right to me!)

It’s not that I was unhappy then, or am blissfully happy now – we make art to make the world that we think ought to be.

Whether from a place of happiness or unhappiness, artists want the world to change.

On Narcan and the perception of care.

On Narcan and the perception of care.

I was talking to someone recently about the availability of Narcan where we live (a college town in southern Indiana, population 80,000). Narcan is a medication that blocks opiate receptors. When given to someone who recently overdosed on heroin, fentanyl, or painkillers, Narcan can save their life.

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In the lobby of the county jail, there’s a vending machine that dispenses Narcan for free. It’s like those rest stop snack machines – type in a number for the item you want, then a corkscrew turns until that item falls into the slot for you. Every row has Narcan. Only Narcan. A sign on the front asks patrons to consider taking several doses.

I don’t know how many people actually used this vending machine – I always feel nervous about the surveillance state when I’m standing in the jail lobby, and I’m not even particularly likely to be incarcerated.

But I imagine that fewer people use the vending machine now. The jail lobby was open to the public, but now the outer door is locked and you have to be buzzed in. Press a button for the intercom, then a correctional officer’s voice crackles through to ask why you want to come inside.

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The person I was talking to: she lost her partner to an overdose last autumn. She’s been distraught ever since, which led to a relapse (she has a child and had been clean since the beginning of her pregnancy), which led to jail.

She said:

“I actually hate that Narcan is everywhere. I don’t know if this is how it is, but it feels like the EMTs don’t try as hard. Like they’re thinking, if nobody cared enough to Narcan somebody back, then they aren’t going to do it either.”

“They’d brought him back before, a few years ago. But this time … I mean, maybe there was nothing they could have done. But I wish they’d tried. I wish there’d been a way for me to say goodbye.”

“And now, somehow, I have to tell our daughter. That her daddy’s never coming back. I mean, it happened months ago. Maybe she knows. She probably knows? But all she says is that her daddy’s in a box upstairs. Because that’s what I had told her.”

“And I wish my mom would stop talking bad about him. My daughter, she’s with my mother now. Thank god she’s with family. And, like, my mom, I get that she never liked him. He did some bad things. My baby shouldn’t have seen him throw me around.”

“I mean, he threw me, literally threw me out the front door one day. But, god, he’s dead, so can’t my mom just talk like my baby’s daddy wasn’t bad?”

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There are facts that are true, and feelings that are true, and sometimes they tell us different things.

Narcan saves lives. Given at the right time, it can bring back a person’s breathing.

In that moment, Narcan helps.

But a dose of Narcan also apparently feels awful. A body was free from every ache and pain; suddenly, every harsh sensation returns. Many people, when revived, immediately use more of whatever drug had nearly killed them, hoping to take the edge off.

And, simply knowing that Narcan exists might make the world more dangerous. Perhaps the sense of security leads to riskier behavior? The same argument is made about padded football helmets – that thick helmets lead football players to block and collide in fundamentally unsafe ways. And in real estate: past insurance payouts have lead to the construction of extravagant homes in locations likely to be destroyed by future hurricanes.

When so many people have access to Narcan, then perhaps, if nobody revived a person, perhaps that person would seem to be less loved. Even if this wasn’t true. After all, there are all sorts of motivations that could prompt a person’s unsafe choices: they might’ve been using alone because they didn’t want the sight of drugs or needles to be triggering for a family member in recovery. They might’ve felt shame to be slipping back into old habits after months or years of doing better.

Because they’d tried to protect others, a person who overdosed might not be noticed until too late.

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I always assumed that access to Narcan was helping. And, more: that access to Narcan felt like it was helping.

But perhaps not. After a loss, everything – including antidotes, and EMTs, and remembered stories – can cause pain.

On pandemic-era incarceration.

On pandemic-era incarceration.

During the first year and a half of the Covid-19 pandemic, the local county jail wouldn’t admit volunteers. Incarceration in the United States sounds crummy most of the time, but most of the people I’ve communicated with have said that things were even worse during the pandemic: more fear, more tension, fewer opportunities to do much of anything either than sit & worry.

Around that time, the Midwest Pages to Prisoners Project – an organization that sends free books to people who are incarcerated – received many letters like this:

The prison I am at has us on 23 hour a day lockdown due to the coronavirus threat. We also lost access to most jobs around the prison, visits, library, and a lot of other things that help relieve stress, like sports, walking track, weight-lifting, church, etc.

So books will be a huge help, we are three-deep to a cell and I can’t say I always enjoy the company.

And also –a la Baudelaire’s “oasis of horror in a desert of boredom” – we received some terrifying stories from people who got very sick:

On Sept 1st I was Covid-positive, on Sept 4 shortly after 6 a.m. I was rushed to the hospital. I was on a ventilator & in paralytic coma for 6 ½ days. Both lungs free of pneumonia, I have now been diagnosed with stress-induced cardiomyopathy due to Covid. I am back at the prison. My voice sounds like a man (LOL).

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There are almost always communicable diseases circulating through the jails and prisons. That’s certainly still been true during the Covid-19 pandemic: in southern Indiana, vaccine uptake is relatively low, especially among the population of people usually targeted for incarceration. Still, volunteers began visiting the jail again as soon as we were allowed – during stressful times, people need more support and kindness than usual, not less.

For the past few months, the administration has been letting us bring equipment to record people reading books for their kids. Then librarians at our excellent local library send the video and a paper copy of the book to the person’s kids.

After a Sunday morning recording session, someone was telling me a bit about her recent experience:

We’ve got three levels of security in the women’s block right now, so we’re on lockdown about 22 hours a day. They only let us out to the common area one level at a time.”

Breakfast at 4:30, why I was feeling a sleepy. They do have coffee at commissary, instant coffee. Commissary’s a little tough, the prices of everything have gone up but they didn’t raise the weekly cap, so you can get a little less each week. My parents have been putting money in my commissary, but you can’t do more than the cap.

My parents have been taking good care of me, thank God, not that I deserve it.

Which always breaks my heart to hear somebody say. She deserves help. We all do.

I doubt there’s anyone among us who would be pleased to have people always associate us with the worst things we’d ever done. Or have our worst moments mulled over by judges and prosecutors and public defenders, then written up in someone else’s words and stored in a permanent file.

I’ve certainly done bad things & broken laws: I had the good fortune to not be caught. (Good fortune, plus pale skin, masculine frame, upper-class accent, apartments in wealthy, less-policed areas …) I drove with drugs in my car. And I definitely hurt people – started petty arguments, callously trampled feelings – in ways that aren’t illegal, but I’d still feel awful having those moments replayed again and again, discussed in a courtroom, treated as though those smallest, meanest moments were the essence of me, the most important thing for somebody to know about me.

In Just Mercy, lawyer Bryan Stevenson writes that:

I thought of the victims of violent crime and the survivors of murdered loved ones, and how we’ve pressured them to recycle their pain and anguish and give it back to the offenders we prosecute. I thought of the many ways we’ve legalized vengeful and cruel punishments, how we’ve allowed our victimization to justify the victimization of others.”

But simply punishing the broken – walking away from them or hiding them from sight – only ensures that they remain broken and we do, too. There is no wholeness outside of our reciprocal humanity.

I frequently had difficult conversations with clients who were struggling and despairing over their situations – over the things they’d done, or had been done to them, that had led them to painful moments. Whenever things got really bad, and they were questioning the value of their lives, I would remind them that each of us is more than the worst things we’ve ever done.

I told them that if someone tells a lie, that person is not just a liar. If you take something that doesn’t belong to you, you are not just a thief.

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In jail that day, I tried to say something vaguely similar. But at the end of our recording session, I got to return to my loving family. I got to read a book to my children while hugging them.

She went back to the block, waiting for us to mail a DVD of her reading & a copy of the book to her kids. Which isn’t the same, and isn’t enough.

On Gamestop and counterfeiting.

On Gamestop and counterfeiting.

In high school economics, you may have learned that the Federal Reserve controls the money supply.

When inflation is low, the Fed prints money. They unleash this money by purchasing bonds. When people have more money, they’ll spend it, so inflation rises.

When inflation is too low, the Fed contracts the money supply. They sell bonds. Cash leaves circulation. With fewer dollars in hand, it’s more difficult for people to buy things, and inflation slows.

This is a nice theory. It’s logical and the math works well.

The only flaw is that it isn’t true.

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The Federal Reserve doesn’t control the money supply – banks do.

If you walk into a bank and apply for a loan, you might expect for them to check how much money they’re holding in deposits, how much money they’ve lent already, whether there’s any more on hand for you to borrow.

That won’t happen. They’ll investigate you, certainly, to assess whether you’re likely to default. But if they like the look of you, you can walk out of there with money.

The bank creates this money. They claim that it exists, and then it does.

I first learned about the distinction between who theoretically controls the money supply (the Federal Reserve!) and who actually controls it (banks!) from economic historian Robert Skidelsky in his book Money and Government.

Skidelsky includes an instructive quote from the investigative report Where Does Money Come From? by Josh Ryan-Collins, Tony Greenham, Richard Werner, and Andrew Jackson:

The theoretical support for deregulation was based on the unrealistic assumptions of neoclassical economics, in which banks are mere intermediaries.

This does not recognize their pivotal role as creators of the money supply.

Since the 1980s, bank credit creation has expanded at a considerably faster rate than GDP, with an increasing amount of bank credit creation channeled into financial transactions. This is unsustainable and costly to society.

As we were taught in high school, increases to the money supply accelerate economic activity.

And our economy is booming. But you might not have noticed. See, banks have been greatly expanding the money supply, but they’ve been injecting all that cash directly into the financial sector.

Investment banks, hedge funds, and the like have been blessed with easy money, and there’s been dramatic inflation in this segment of our economy.

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Brokerages lend stocks.

This is another way to create money – brokerages might lend more stocks than actually exist. At times, this may be inadvertent – if I own a stock, my brokerage can lend it to someone who’d like to short sell it.

When the short seller puts the stock up for sale – hoping to profit if the stock falls before they’re obliged to return it – someone who uses a different brokerage might buy it.

And then that brokerage might also lend it to a short seller – they have no way of knowing that this particular share has already been lent.

All this lending creates money – with each additional sale, the short seller is pulling the stock’s share price out of thin air, subject only to the contract with the brokerage that a share must be returned later – without anyone necessarily intending to break the law.

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When I read poetry with guys in jail, they’ll sometimes mention what they’re in for. Not everyone is telling the truth – according to police reports, somewhere near half are there on domestic assault charges, but out of some thousand men I’ve worked with, only three have said they were in on a domestic, and they all told elaborate stories to explain away the charges.

A guy said that his wife was all bruised because he had to resuscitate her from a medical emergency. Another guy told me that he and his girlfriend were “talking loudly,” some neighbor called the cops, and they saw him throw a towel at her. A third said they busted him for domestic violence after all he’d done was chuck a television at the wall (although this guy had been telling me for weeks that he was in on possession of marijuana).

My point being that I’m never quite sure how much credence to give these stories.

Still, I’ve worked with several guys who said they were doing time for increasing the money supply. In practical effect, what they’d done was the same as a bank lending money it doesn’t have – the money supply increases.

Here’s some money that previously didn’t exist, and there will be repercussions if an investigator can prove that it happened.

A guy was printing bills in his basement. Another passed bad checks. Somebody claimed he was there for credit fraud, but I doubt he was busted for the sort of thing the Russian hackers were doing, trawling the internet for unsecured connections – more likely, he’d lifted somebody’s wallet and got nabbed using their cards.

When individuals get caught at this, we bring the hammer down. Bad check guy caught four years (and the prosecutor was originally trying to get him to plea for twelve, he told me).

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The stock for Gamestop, in and of itself, is worth very little.

The company doesn’t pay a dividend. And the company is failing. They have to pay rent, they have to pay the salaries of living, breathing human employees. They have to maintain an inventory.

They depend on consumers’ willingness to get in the car, drive somewhere, and make eye contact with a living, breathing cashier in order to buy a thing.

But game systems can be bought online. The games themselves can be downloaded. The stylish figurines of people’s favorite characters are cool, and can presumably be sold at a markup in shops since they look more enticing in person than they would as tiny pixelated photos on a telephone screen, but these are heavy and bulky and awkward to ship to the store and keep on the shelves.

I agree with the hedge fund guys who think there’s a high probability that Gamestop was going out of business. That Gamestop might’ve gone under even without the Covid-19 pandemic, and that things look even worse now – the new Gamestop executive’s plans for bringing in money all relied on turning the shops into social spaces, but now nobody’s socializing, and certainly not inside small, poorly ventilated strip mall outlets.

Several hedge funds borrowed lots of shares of Gamestop and sold them, hoping that the price would fall before they were required to return them.

Their positions – short tens of millions of shares of Gamestop – were known. And so people intentionally raised the price of the stock.

The hedge funds were (and possibly still are) contractually obligated to return those shares to the brokerages that they were borrowed from. They’d have to buy shares even if the price became absurd.

So lots of regular people realized they could make a quick buck by buying the shares and then selling them to the hedge fund at a ransom price whenever their loans were up.

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And, yes, when people drove up the price of Gamestop to grift money out of the short-selling hedge funds, that was collusion. Which would be illegal if done in private, but I don’t think there’s any problem when it’s been done entirely on a public forum.

What the banks and brokerages have been doing – creating money by lending things that don’t exist – isn’t illegal. Perhaps it should be – the practical effect is the same as when somebody starts printing money in their basement – but it isn’t.

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If the hedge funds are contractually obligated to buy shares of Gamestop, then is this a good bet?

Should you jump in, too?

I don’t think so.

Please note that I’m not a particularly savvy investor – I’ve put my family’s money in Canadian agriculture, air conditioners, coolants, all sorts of things that will presumably accrue value if the planet Earth becomes less hospitable – nor have I studied contract law. I’m a trained economist and reasonably logical thinker, but not an expert.

I do own a single share of Gamestop – I bought it because I appreciated that people wanted to flip off the hedge funds – but, honestly, I don’t have much personal stake in this.

I do think that the financial sector has been creating large, needless drag on our economy. I’m vaguely anti-capitalist. I believe strongly in a global wealth tax and guaranteed basic income. So I’d like for the hedge funds to go bankrupt.

But I don’t think they will.

The hedge funds have contracts, but their contracts aren’t with me – even if they’ve borrowed my share of Gamestop, they didn’t borrow it from me, they borrowed it from my brokerage.

And my brokerage is run by some reasonable people wearing business suits. They know that the Gamestop company itself is troubled. They would probably rather have money than shares of GME.

I think it’s very risky to gamble on a contract between people who aren’t you. The signing parties of the contract could renegotiate it – as a bystander, I can’t influence their negotiations at all.

Still, there’s a chance that some of the short sellers will tank. So although I wouldn’t recommend buying a bunch of shares of GME, it seems prudent to convert some of your retirement savings to cash, just in case the short sellers have to unload a few of their long positions to cover and the prices of those shares fall. You might have a chance to buy other stocks at a discount soon.

Again, I’m not an expert, nor a savvy investor. That’s just what I’m doing.

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Usually, nobody notices when banks or brokerages create money. We simply assume that they have sufficient holdings to cover whatever they’re lending out.

They often create phantom shares of stocks, and then, when the short sellers resolve their contracts, the phantom shares blip back out of existence, leaving behind only some money – not coins or bills, mind you, but an increased number on a ledger – to indicate that they ever existed.

Account values are like the contrails in a bubble chamber that tell us whether elementary particles briefly existed after a high-energy collision between nuclei.

But Reddit readers’ collusion is causing the contrails to ossify. I don’t have a sell limit set for my single share of Gamestop. Millions of shares are held by people who think short selling ought to be illegal and are planning to let mounting interest payments undermine the hedge funds that were doing it.

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The turbulence here is obviously unrelated to Gamestop.

The issue isn’t even short sellers – financial markets are obviously irrational, but short selling does push stock prices toward fair valuations for their underlying companies. Which isn’t necessarily helpful, or sufficiently important that we, as a people, should reward the people who do it will millions of dollars.

And the issue isn’t hedge funds.

Rather, it’s whether we want a world that conforms to the fictions we teach in high school economics – the Federal Reserve controls the money supply! – or if we want the world we have now, where guys in my poetry class landed in jail for printing money in their basements but bankers and brokers are rewarded lavishly for printing money in their offices.

I’ve written about this previously, here and here, but the ramifications are much more visible now.

And I should mention that, although I think these behaviors ought to be illegal, I’m not saying that bankers have necessarily done anything wrong.

Brokerages, in this whole mess, presumably weren’t trying to break the law. Each brokerage may have thought they had real shares in hand when they lent them.

But they didn’t.

#

As it happens, we could easily prevent situations like this from arising again.

I have a rather dour view of Bitcoins – they’ve not as anonymous as people think, and the system is incredibly wasteful, creating more greenhouse gases by design than other forms of currency – but blockchain technology would make the stock market less awful.

A blockchain is like a bunch of stickers plastered to the side of a suitcase – it’s an ordered list of where something has been. You could use blockchains to prevent food-borne illness – for each tomato used for ketchup, you could track its journey from fields to processing plants to restaurants. A blockchain is simply a long list of prior addresses.

With shares of stock, you could track whether that share has previously been lent to a short seller, preventing a single share to be lent twice – which is how brokerages inadvertently counterfeit shares – before the first contract has been resolved.

#

The problem, of course, is that people who are currently wealthy benefit from being allowed to create money.

It’s convenient to own a money printer – you get to buy what you want and donate to charities and feel good about yourself.

And it’ll take a bit of work – not much work, as I described above – to shut the money printers down. Still, any effort at all is hard to muster when the people who currently have power would like to keep things as they are.

On self-importance.

On self-importance.

We only have one life to live. We only have so much time.

How will we use it?

#

There’s a trade-off that many privileged people face – should we focus on family or our career? This choice is especially stark for women, who are often expected to be the primary caretakers for their families, no matter how stellar their career prospects.

Everyone has different priorities, and nearly everyone will end up feeling a wistful sense of regret someday.

Would we be happier if we’d chosen differently? If we’d had children younger? Or if we’d postponed children, spent a few more years building a name for ourselves?

We’ll never know for sure.

In Blake Crouch’s Dark Matter, though, the protagonist finds his answer.

#

NOTE: Dark Matter is a scary science fiction thriller. I enjoyed reading it. Crouch is an excellent storyteller, and he handles almost all the science really well. If you like thrillers, you’d probably enjoy it.

If you’re thinking about reading it, you might not want to read the rest of this essay now, because it’ll spoil some of the plot for you.

Maybe you should navigate away from this page to check the catalog at your local library! Don’t worry – this essay will still be here next month, after you’ve finished the book.

Or maybe you feel like you can’t handle scary thrillers right now, what with regular life being so inordinately stressful. In which case you’re welcome to carry on reading this essay.

#

The protagonist of Dark Matter, Jason, is a brilliant scientist who chose to put his family first – his career has floundered, but his home life is content.

Jason wonders what might have been. A friend from graduate school is winning accolades — fancy grants, publications, and awards.

I could’ve had all that, he thinks wistfully.

In Joseph Heller’s Good As Gold, professor Bruce Gold thinks, “There is no disappointment so numbing as someone no better than you achieving more.” After helping his friend celebrate yet another award, Jason trudges home feeling a similar sentiment.

But then he meets another Jason – a version of himself who, years ago, chose to prioritize his career instead. That Jason has no family. That Jason invented a machine to jump between realities, to enter timelines in which different choices had been made.

That Jason – who chose personal glory over caretaking – is even less happy. And so he kidnaps the initial protagonist, stealing his family and launching him through the machine back into a world where everyone adores his utter brilliance.

And that’s when the first Jason, who’s had a chance to experience both worlds, realizes: love matters more. Money, sex, adulation – none of it can replace his family. He wants to be back with his spouse and child. He’s willing to do anything to get there.

Even murder the myriad copies of himself who all want the same thing.

#

Despite the horrific violence, it’s actually a beautiful way to depict priorities – Crouch shows the value of caretaking by giving his protagonist a choice. Suddenly, Jason is freed from his past. He could be anywhere. He could live in a world where he’d used his earlier time in any possible way.

He wants to be in the place where he chose to love.

#

A strange quirk of storytelling is the ease with which we, the audience, transfer our empathy and compassion to a protagonist. Even a wretched protagonist – if Bojack Horseman were a peripheral character in someone else’s show, he’d obviously be a villain. And yet, in his own show, I cared about him. I wanted him to succeed, even though he’d done nothing to deserve it.

Quentin Tarantino toys with this idea in Pulp Fiction – when John Travolta is the protagonist, sipping an expensive milkshake or reviving his boss’s spouse, I felt deeply invested. But when Bruce Willis is the protagonist and kills Travolta, I don’t care at all – at that moment, I’m only interested in Willis’s experience.

Than Travolta comes back – and behaves horribly – and, somehow, I find myself caring about him again. His impending pointless death is suddenly irrelevant. He jokes that Samuel Jackson wants to be a bum and I laugh along.

We make the same mistake in our own lives – we see ourselves as more important than we really are.

#

A friend’s daughter recently landed in jail, busted over heroin and Xanax. My friend feels conflicted about her daughter’s arrest – being in jail is awful, “But the way she was going, she would’ve died if she didn’t end up there.”

“The problem is, she worries too much. Worries so much about what other people think of her.”

“But she’s starting to get it now. To realize that she doesn’t have to worry, because other people aren’t thinking of her at all.”

#

In Dark Matter – as in Hugh Everett’s “many worlds” interpretation of quantum mechanics – with every decoherence, the universe splits. Every outcome is real and propagates through time.

(If you like stories set within this framework, I highly recommend Ted Chiang’s “Anxiety Is the Dizziness of Freedom,” published in the collection Exhalation.)

And so there are infinitely many copies of Jason who all want to return to his family – every choice that he’s made since the kidnapping has created another world, another Jason hoping to return.

They will all stop at nothing to rescue their spouse and child. And so they begin to kill each other. Infinitely many Jasons are converging on the world they left.

This convergence seems almost plausible while reading, based on the physics of Dark Matter. The problem being, of course, our lapse into self-importance. Our quirk of prioritizing the experiences of a central character.

Within that world, there would be infinitely many Jasons … but there would also be infinitely many copies of the “stolen” spouse and child. Just as many quantum decoherence events would have occurred in their lives as in his.

Comparing the magnitude of infinite numbers can feel puzzling. For example, it might seem like there should be twice as many numbers as there are even numbers … only every other number is even, after all!

But these infinite quantities are the same. If you write every number on a ball, and then you write even numbers on buckets, there are no balls that can’t be put into a bucket. Each ball labeled “N” goes into a bucket labeled “2 * N”.

Infinitely many balls, infinitely many buckets, and the infinities match.

In Dark Matter, there would be infinitely many Jasons, but also infinitely many worlds that he had left behind, so the likelihood of reaching a world with more than two of himself – the protagonist and the original villain – would be vanishingly small.

#

In World of Wonders, Aimee Nezhukumatathil describes a vacation to Kerela, India, with her new spouse. They were eating dinner on a houseboat when they heard noises from the roof.

A troop of macaques were up there eating fruit. Then a wildcat came and chased the macaques off the roof, but the macaques still stayed nearby, watching.

Nezhukumathil and her spouse felt worried – would the macaques attack? Steal their food? They tried to convey their worries to a local resident, who laughed at them. And the monkeys seemed to laugh at them, too.

Nezhukumathil and her spouse finished their dinner quickly and then went inside the houseboat. That night, for the first time that trip, they locked the door to their cabin – “as if these macaques would know how to turn a doorknob and latch.”

“The last thing I remember hearing that night was a distant meowing and chatter-like laughter, and I swear, somewhere in the back waters of Kerala, those bonnet macaques are still having a good laugh over us.”

It’s an easy fallacy to slip into. An experience that’s rare for me – taking a vacation, visiting a doctor, buying a wedding ring – takes on outsize importance precisely for its rarity.

But the salesperson at Goldcasters helps giddy young couples every day. I have a clear memory of the E.R. nurse who gave me a rabies vaccine at 3 a.m., but there’s almost no chance she remembers me – she’s been doing that sort of thing for years.

The macaques spook tourists – and perhaps steal their food, purses, or loose necklaces – every day.

Macaques have their own conscious experience of the world. In their stories, they’re the protagonists. We humans merely dot the periphery. Nameless and forgettable, we fade into the background.

#

As we choose how to live, it helps to maintain a sense of humility about our importance to the greater world.

In time, our money will be gone. Our personal glory, too.

Helping others – choosing caretaking over our careers, at times – can connect our stories to something bigger than an individual.

Of course, eventually all of that will disappear, too. The whole world is terminal – our sun will fade, our species will go extinct, our universe’s entropy will increase until there’s no more heat, no more warmth for anything to happen.

So we also need to prioritize personal happiness while we’re here.

Luckily, loving others tends to make us happy.

On gambling.

On gambling.

At about eleven a.m. on my birthday, I buckled the kids into the car to drive to our local print shop. Taking the kids with me for a fifteen minute errand seemed like a good gift for my spouse: she’d have some time in our house alone, which is rare to come by right now.

The print shop is just across the street from the (currently closed) services center for people experiencing homelessness, just down the street from the services center for people recently released from incarceration, a few blocks from the hospital. There’s a popular bus stop on the sidewalk out front. Across the street, a truck rental company has a large, mostly empty parking lot.

Large crowds of people have been hanging out near the print shop. Day and night.

I pulled into a shaded parking spot. We had the windows down. “I’ll just be a minute, can you sit in the car?” I asked.

The kids nodded, not looking up. A friend recently gave us a stack of Ranger Rick magazines, and we’ve been doling them out gradually for car rides.

I had my wallet in my pocket with a twenty and a ten, and we’d already been sent the bill for our print order. $20.49 for a stack of postcards to send to my spouse’s future AP biology students, explaining their summer assignment.

Normally she’d give kids a slip of paper with their assignment sometime during finals week, but this year had no finals. For many kids, no school.

But don’t worry. The assignment isn’t too bad. Students choose from a set of things like “fill an old sock with trash, bury it, then dig it up six weeks later” or “take a walk and look for things that match each of these different colors.”

I looked in the center console of the car for a pair of quarter. We keep them in a little pouch, ready to pay for parking. Haven’t been using them recently – the meters are still on, but there’d be nowhere to go after parking the car.

I thought it would be a nice gesture to pay in cash with exact change. The credit card company wouldn’t be taking a cut of the profits, and exact change would minimize the length of our transaction.

As I was zipping the pouch closed, a man ambled over. I’d guess he was a little over six feet tall, a little over two hundred pounds, with light brown skin, a buzzed head, and a bristly beard. He leaned down to the open passenger-side window and said something to me, but I couldn’t parse it – his words sounded mushy, thick with saliva.

“Hang on,” I said, “I’m hopping out of the car, let me come around.”

I walked around the back of the car, stopping a few feet away from him. He said the same thing again. I shrugged and shook my head. My brain takes a while to process spoken words, even under the best of circumstances. I can’t listen to audiobooks – whole chapters wash over me without any understanding. I can’t listen to podcasts – when people recommend them, I’ll search for a transcript, then read it and pretend that I too listened while riding an exercise bike or something.

By the fourth time he repeated himself, I understood him better. I think part of the problem was that he was speaking too quickly – almost everybody gets nervous when approaching a stranger.

I can relate. I doubt I’d ever be able to flirt with strangers in a bar.

“I like your hair,” he said. “I grew up in Gary, came down fifteen years ago for Indiana University, but I caught that bipolar. Just got out of the hospital, today’s my birthday, five twenty-six, and I just got out.

He still had a white plastic bracelet on his arm, which seemed to be printed with his name and age. He didn’t gesture to it or anything, which felt nice. As though the two of us would need no evidence to trust each other.

“Your birthday? How old are you?”

“Thirty-seven,” he said, without hesitation.

Indeed, the bracelet was printed with the number 37 in a fairly large font. But it seemed like this was a nice thing to ask.

“No shit,” I said, “thirty-seven. Same as me. Today’s my birthday, I just turned thirty-seven.”

“Naw, man, you’re shitting me.”

“It’s true.” I turned to the car, shouted to the kids, “Whose birthday is it today?”

The kids said something, but neither the man nor I could hear them. The crowd across the street was loud.

The man reached into his pocket, pulled out a jumble of stuff. Dice, some black beaded necklaces, a keychain, a tiny flashlight, nail clippers, a tube of toothpaste. He put the toothpaste back into his pocket.

“Don’t need this yet,” he mumbled.

“You got a toothbrush?” I asked. We actually have some spare ones in the car to give to people.

“Yeah,” he said, pulling out the green plastic handle of a toothbrush, “but I used that already. See these, my teeth so fucking white.”

He smiled for me and I nodded approvingly, murmuring that his teeth were indeed very white. A full smile. Several teeth were stained dark near the edges, but I’ve met lots of men with worse teeth than that.

“Hey, you paint your nails, too,” he said, noticing. “See this, look at this.” He reached out, his hands still full of stuff, to show me his fingers. They had tiny remnants of polish, pink on several but a pointer finger with a mix of red and black, just like I use on mine. My nails were barely even chipped, because I’d painted them the week before. I usually do them about once a month these days. Hard to find time for the little things since having kids.

“I got … here, how about this,” he said, handing me the nail clippers. “They good, they good ones, I haven’t even used them yet, they’re clean.”

As he spoke, spittle flew from his mouth. Luckily, I’m not much of a germophobe. Luckier still, I think I already had the disease that’s going around right now. Between a pair of kids in preschool, a spouse at the high school, and me teaching in jail, I catch most of the viruses that come through town.

I turned the clippers over in my hand. A large pair, space-age iridescent top glimmering in loops of purple and blue, big letters “Made in China” etched into the metal.

“They’re beautiful,” I said. “I like the look of that metal. But we’ve got so much stuff already. Meeting you, that’s present enough today.”

I handed the clippers back. As he took them, one of his dice tumbled from his hand. I bent down to pick it up, gave that back to him, too.

“You play craps?” he asked.

“Never have.”

“Hey, I’ll teach you. Come on, here, you gotta get a seven, eleven, don’t want snake eyes.” He bent down, blew on the dice, and rolled. A five and a six.

“Eleven, hey, that’s good,” he said. Then picked up the dice, blew on them again, and rolled. A two and a six.

“Eight. Now I got to roll an eight before I get a seven, see, that’s crap out.” And he rolled about four more times before he hit his seven.

“Now it’s your turn,” he said, and handed them to me.

I rolled, got a two and a four.

“That’s a six, that’s a hard one, got to roll a six again before you crap out.”

I rolled again, same two and a four. Maybe I didn’t shake the dice enough – they didn’t really tumble on the ground, they just sort of plopped down on the asphalt in front of me.

And I found myself thinking how strange it is that dice are a big thing for both the toughest and the wimpiest groups of people in town. Street people and folks in jail gamble with dice, and then there’s Dungeons & Dragons, fantasy buffs rolling 2d6 as they tell stories.

I’ve heard that Dungeons & Dragons is pretty big in some prisons, too. A few prisons have banned D&D or roleplaying books from being sent in – reputedly, people got killed over developments in their games. Somebody’s elf cleric was betrayed and a few days later guards found a body in the showers.

I don’t know how much truth there is to that. But, when people at those prisons ask for D&D books, I have to write an apology and send some fantasy novels instead.

I tried to give the dice back after rolling my second six, but he said I had to keep playing. “I got two, hey, you got to see where you go on this next roll.”

“Okay,” I said, “but then I got to pick up, my spouse is a high school teacher, she has this print order, some post cards to send to her students.” I gestured with my head toward the shop. And then I rolled.

An eight. Followed by a seven. I was done.

“Thanks for teaching me,” I said.

“And, hey, hey, I was thinking, for my birthday, you help me get something at Rally’s. I’m trying to get a pair of ice cones, for me and my girl.”

I gave a wan smile. Normally I don’t give money to people. It’s a tricky situation – people have things they need to buy, and even the chemical escape can seem necessary. My life is really good, and even I struggle with the sense of being trapped inside my head sometimes. And yet, I don’t really like the thought of my money being part of the whole cycle, keeping drugs in town. I’m even pro-drug, mostly, but meth and heroin typically do bad things to people’s lives.

A few days earlier, when I crossed paths with a friend from jail while my dog and I were out running, I’d asked if my friend was eating enough. He laughed at me and said, “Fuck, no!”

It’s true, I’m pretty bad at looking at people’s faces when I talk to them. When my friend started laughing, I finally met his eyes and realized how gaunt he looked.

“Is it a money problem, or …?”

“Oh, dude, don’t give me any money. I could eat, I think I can eat, I just don’t. You give me anything, I’d just spend it on meth.”

Instead of handing money to people on the street, we buy paper and pencils for folks in jail; we support our local food bank; we give time. Building human connection takes time, and there’s no shortcut.

Still, on my birthday, I was standing there in the print shop parking lot next to a man who’d just given me a present – nice nail clippers, even if I didn’t keep them. And we’d played craps. Maybe he’d won – I’m not sure what the rules are about draws. And I had a pair of quarters in my hand.

I’d hoped to have exact change. But I shrugged and gave him the quarters.

“Thanks, man,” he said, and I told him “Thanks for the game,” and walked over to ring the doorbell at the print shop, ready to pick up my order. The kids had been doing a great job of waiting patiently in the car.

On currency, again

On currency, again

At the beginning of our poetry class in jail, I walked around the room to give the printed poems to people.  I noticed that somebody was working on an elaborate Valentine’s Day card.  (The date was February 28th.)

“Oh, cool,” I said, “did you draw that?”

“Naw,” he said.  “I commissioned it and all, though.  Designed it.  Cost me two Honey Buns.  Check it out.”

He waved me in to see the card up close.  The front had a red rose with marijuana leaves sprouting from its stem.  The poem he’d written inside began:

Roses are red,

Violets are blue,

If you were a blunt

I’d smoke you too …  

“Cost me two Honey Buns each time,” he said.  “They shredded my first.  I mailed it out, but they said I addressed it wrong, said I wasn’t, what’s that thing, no money on your books … ?”

“Indigent mail,” somebody told him.

“Yeah, said I wasn’t indigent, so they shredded it.  Now I’ve gotta send another one.”

#

Another time, somebody explained the booms and busts of the economy in jail. 

In the world at large, the business cycle typically lasts about five to seven years – the economy will rhythmically surge and then contract.  This is bad news for the unlucky cohorts who begin their careers during the cyclical recessions – these people typically have lower earnings over their entire lifetimes – but because the cycles are so predictable, central banks are supposed mitigate the downswings.

The Forces of the Business Cycle. From _Some problems in current economics_ by Malcolm Churchill Rorty, AW Shaw Company, 1922.

In jail, the business cycle lasts a week.

“We get commissary on Friday, so every Friday, people have coffee again, we all drink too much.  People pay off their debts … or you get an asshole who racked up a bunch of debt then goes to seg on Thursday, tells the guards he’s hearing voices.”

“But near the end of the week, Wednesday or something, people are running out, so coffee gets more expensive.  You got to pay a bunch of interest if you’re trying to get coffee from somebody.”

“Worst is you get here near the end of a week.  Cause even if somebody puts money on your books, it’ll take a while before they add your name to the list and you can get commissary.  So you’re getting everything on credit, people bleed you dry.”

#

In Money and Government, Robert Skidelisky addresses common misconceptions about the economy.

Many people are aware that the central bank has a mandate to “control inflation.”  This is very important to political donors – low inflation benefits people who already have wealth, at the expense of current workers.

But most people – including professional economists – think that the central bank controls inflation by manipulating the money supply.  This misconception might be a holdover from ancient history.  Long ago, only sovereigns could create money.  Kings and pretenders would mint coins as a way to flaunt their power.  And they’d unleash their full wrath upon interlopers.

The central bank is a little different.

If there’s too much money, which would cause prices to rise, the central bank is supposed to yank money out of the economy by selling bonds.  If there is too little money, the central bank is supposed to print more.

The central bank attempts to control the money supply this way.

At the same time, other banks are lending money.  If you decide to buy a house, you won’t call up the federal reserve – you’ll probably visit a few banks around town and apply for a mortgage.

Because most money doesn’t exist – it’s just a tally of credits and debits maintained on a server somewhere – a bank that gives you a loan is creating money. Modern banks don’t actually check whether they have money before they lend it to you.

Skidelsky includes a quote from Where Does Money Come From? by Ryan-Collins et al.:

The theoretical support for deregulation was based on the unrealistic assumptions of neoclassical economics, in which banks are mere intermediaries.  This does not recognize their pivotal role as creators of the money supply.

Since the 1980s, bank credit creation has expanded at a considerably faster rate than GDP, with an increasing amount of bank credit creation channeled into financial transactions.  This is unsustainable and costly to society.

Inflation has stayed low, because the amount of money available for purchasing real things hasn’t grown much.  Low inflation means that if people took on debt to go to college, that debt is often still hanging over them years later – inflation would make it easier to clear debt, because employers would respond to inflation by raising salaries.  The amount of debt relative to a week’s pay would fall.

Instead, the money supply in only one corner of our economy has ballooned, producing a flurry of destructive activity in the financial sector.

This has been lucrative for people willing to work in finance, though.

Skidelsky explains that:

The economic collapse of 2008-2009 showed that monetary policy directed to the single aim of price stability was not enough either to maintain economic stability or to restore it.  The economy collapsed, though the price level was stable.

Preventing a collapse in the money supply was to be achieved by what was euphemistically called ‘unconventional’ monetary policy: pump enough cash into the economy and the extra spending it produced would soon lift it out of the doldrums.

As it happens, the method that the central bank chose to inject money into the economy was perversely ineffectual.  The central bank gave money to wealthy people.

One strategy was “quantitative easing.”  The central bank paid people above-market-rate for low-quality financial assets. 

This helped the people who owned these particular low-quality financial assets – typically foolish wealthy people.  They should’ve lost a bunch of money.  They’d bought junk! But they didn’t, because the central bank stepped in to save the day.

Our central bank also fulfilled a small set of private companies’ insurance policies.  The corporations who bought absurd insurance from AIG should have lost all their money when AIG, unsurprisingly, was unable to fulfill their policies. 

If you’re in a high school cafeteria and somebody says, “I bet you a million dollars that …”, you shouldn’t expect the kid to pay up for losing the bet.  But our central bank intervened, giving huge amounts of money to destructive corporations like Goldman Sachs, because it wouldn’t be fair for them to win a bet and then not get the money (even though they’d been betting with a kid who obviously didn’t have a million dollars to pay). 

CODEPINK protests the AIG bailout bonuses in Los Angeles, 2009.

And yet, these tactics didn’t stave off financial recession.  Since the central bank only gave money to wealthy people, these recipients of our government’s largess had no incentive to actually spend the money. 

The main effect of the central bank’s reliance on “portfolio rebalancing” to boost output was to boost the portfolios of the wealthy, with minimal effects on output.  One doesn’t need headwinds to explain why.

#

“There’s a lot you can get in jail.  There were a couple years when people had all this spice, but they cracked down on that.  Still, you can get a blowjob for a couple Honey Buns, some guys will give you a stick for a soup … “

“What’s a stick?” I asked.  My initial assumptions were that it was either something sexual or drug-related, both of which turned out to be wrong.  A single soup would be pretty low to pay for drugs – soups are worth less than Honey Buns.

“Hey, ________, show him.”

A guy pulled down the front of his orange jumpsuit.  In gothic letters arcing across his chest, he had the words “WHITE TRASH.”  The skin around the letters was an agitated red.

“People think you need pens and ink for tats,” somebody said, “but most guys just use a staple and some burnt hair grease … “

The most popular black pigment for oil paints and acrylics is made of charred animal bones.  The calcium phosphate from bones is pale – the deep black color comes from carbon.  When you burn organic material, you’ll make buckyballs – small spheres of carbon like hollow soccer balls – as well as tubes of graphite.  And these molecules have high absorption across the visible spectrum.

Image of carbon allotropes by Michael Ströck.

Whenever a photon of visible light hits one of these molecules, the light is absorbed.  This causes an electronic transition.  But then the physical shape of the molecule doesn’t match its electronic structure, so the molecule begins to vibrate. 

By the time the molecule collapses back to its initial electronic structure – which ejects a photon – some of the energy that the molecule absorbed has been used up by vibrations.  So the outgoing photon will have lower energy.  It’ll be “infrared radiation,” which we can’t see.  So, colored light goes in, and then invisible light comes out – to us, it looks black.

Still, I hadn’t considered that you could burn the gunk that gathers on unwashed hair in order to make tattoo ink. Despite the brutal efforts of our government, people find ways to live even while incarcerated.

As in the world at large, many transactions in jail are made with hard currency.  If something costs a Honey Bun and two soups, you might be expected to hand over the food.  Sometimes, currency actually exists.

But people can create money, too. 

“Thanks, I owe you one.”

With those words, we gain the power of medieval kings.

.

Featured image by Andrew Magill on Flickr.

On currency

On currency

The value of money is a useful fiction.

As with most fictions, the story that we tell about money helps some people more than others. 

Money, in and of itself, is useless.  Gold, cowry shells, slips of paper with pictures of dead presidents.  The story makes us want these things.  We tell ourselves that these items can “hold value.”  Instead of lumbering about with all the goods we want to barter, we can carry a small purse of coins.  As long as everyone believes the same fiction, we can trade our apples for some coins, then later use those coins to pay someone to help us dig a well.

The story that money has value is most helpful for the people who already have money.

If everyone suddenly woke up from the story, and decided that coins were worthless, the people who grow apples would be okay.  In some ways, it’s less practical to pay people with apples – coins don’t bruise or rot – but it can be done.  Similarly, the people who dig wells would be okay. 

But the people who owned coins would be worse off – previously, the things they owned could be traded for other, inherently useful goods.  And people who had made loans would be much worse off – they would have given away money at a time when it could be used to buy things, and when they receive the coins back, they’ll be worthless.  No recompense for past sacrifice – only loss.

So people with current wealth benefit most from the fiction that money has value.

This is, as far as I can tell, the only real virtue of Bitcoins.  This form of currency is not anonymous – indeed, it works through the use of “blockchains,” a permanent ledger that records everyone who has ever owned a particular piece of money.  Bitcoins are a little like dollar bills where you have to sign your name on it in order to spend it.  And they’re excruciatingly bad for the environment – it takes energy to mint a real-world, metal coin, but nothing like the amount of energy that’s constantly wasted in order to verify the ledgers of who owns which Bitcoin.  Ownership is determined by vote, and the system was designed to be intentionally inefficient so that it’s difficult for one person to overwhelm the system and claim ownership of everybody’s coins.  And it’s unstable – it’s difficult for someone to outvote the system and take control, but not impossible.

Those all seem like bad features.  But Bitcoins are now incredibly valuable – in the years since I explained all these flaws to a high school runner who’d begun investing in Bitcoins, his $500 investment has burgeoned to be worth $24,000.

The only “good” feature of Bitcoins is that the system is designed to reward past wealth.  The total money supply approaches an asymptote – new Bitcoins are added to the system more slowly over time.  If the currency is successful, this will impose a deflationary pressure on prices.  Today, a certain amount of heroin might cost 0.1 Bitcoin – in the future, that same amount of heroin might cost 0.01 Bitcoin.

This deflationary pressure would cause the value of current holdings to increase.  By simply buying Bitcoins and hoarding them, you’d gain wealth! 

But this only works for as long as people keep believing the fiction that Bitcoins have value.  And the more people who buy and hold Bitcoins, as opposed to actively using them as currency, the less believable the story will be.  Anyone who “invests” in Bitcoins is wagering that other people will behave in a way that maintains the fiction, even though the person who is making the wager is actively undermining the story.

When we immerse ourselves in stories, we often need to temporarily suspend our disbelieve, but that particular set of mental gymnastics is too twisty for my mind.

Modern money barely exists.  Before, we spun stories about the value of coins – now, the fiction lends value to certain strings of numbers.  In addition to the Federal Reserve, any bank can create money by making a loan and claiming that a certain amount of currency has been added to one account or another.

This has allowed our fictions to become more intricate.  In 2008, the banking crisis threatened to make wealthy people much less wealthy – they had purchased certain financial assets that seemed valuable, and then these assets turned out to be worthless. 

It’s as though there was a certain new Magic card that everyone assumed was great, and a few rich kids bought all the copies of it, but then people finally read the card and realized it was terrible.  Now these rich kids are holding hundreds of copies of a worthless piece of cardboard.

This would be sad for those rich kids.  But, lo and behold, it was fixable!  If everyone can be forced to believe, again, that the item has value, then it will.  The story needs to be chanted more loudly.  If I paid $50 for this card last week, then it’s still worth at least $50!

That’s what “quantitative easing” was – governments around the world agreed to buy worthless items in order to convince everyone that these items had value.  This way, the wealthy people who had initially bought them wouldn’t have to suffer.

In the years since I’ve been teaching in our local county jail, I’ve struggled to comprehend the disparities between the way we treat poor people and wealthy people who made mistakes.

For instance, stock traders stole $60 billion from state governments across Europe – the trick was to have two people both temporarily own the stock around tax time, then they lie to the government and claim that they both had to pay taxes on it.  Only one set of taxes were actually paid, but they lie and claim two rebates.  Money from nothing!

From David Segal’s New York Times article:

A lawyer who worked at the firm Dr. Berger founded in 2010, and who under German law can’t be identified by the news media, described for the Bonn court a memorable meeting at the office.

Sensitive types, Dr. Berger told his underlings that day, should find other jobs.

“Whoever has a problem with the fact that because of our work there are fewer kindergartens being built,” Dr. Berger reportedly said, “here’s the door.”

They stole billions of dollars, and the question at stake isn’t whether they will be punished, but whether they can be forced to return any of the money. 

By way of contrast, many of the guys in jail are there for stealing $10 or so.  A guy did five months for attempting to use my HSA card to buy two sandwiches and a pack of cigarettes.  Another violated probation when he stole a lemonade – “In my defense,” he told me, “I didn’t even mean to steal it, I was just really fucking high at the time.

Two weeks ago, a dentist visited the jail during my class.  I go in from 4:00 p.m. to 5:30 – at about 4:15, a guard came to the door and barked somebody’s name.

“Med call?” somebody asked.

“Shakedown?” asked another.

The guard looked at the sheet of paper in his hand, then said “Dentist.”  And suddenly six guys started clamoring, “You got time for extras?  I gotta get on that list!” 

The man whose name had been called jumped out of his chair and sauntered to the door.

After he’d left, the guys explained the system.  “You can get dental, like real dental, but you have to put your name on the list and they only come like every five, six months.  So there’s no hope unless you’re gonna be here for a while.  And it’s kinda expensive, you pay like fifty for the visit and another ten for each tooth they pull.”

Apparently that’s the only service – pulling teeth.

“They do good work,” said the older man next to me, “I got these bottom two done here.”  And he tilted his head back and opened his mouth.  But I grew up wealthy – it’s hard for me to assess quality by eyeballing the blank gap between somebody’s teeth.

About twenty minutes later, the guy came back.

“Which ones you have them do?” somebody asked him.

“I had ‘em get these bottom three,” he said, although his voice was slurry because they’d loaded his mouth with novacaine.

“You idiot!  You didn’t have them get the top one?”

“No, man, that’s my smile!  Gonna find a way to save that tooth.”

“Man, see, how come I couldn’t be on that list?  I would’ve had ‘em pull a whole bunch of ‘em out.  Wouldn’t give ‘em no that’s my smile bullshit.”

As it happens, I’d gone in for a cleaning at my dentist just the day before.  And I’ve had braces.  Invisalign.  I suddenly felt rather self-conscious about my own perfectly clean, perfectly straight, perfectly intact teeth.

“So who was it, that lady doctor?”

“Naw, was the Black guy.”

“What?  Fuck’s it matter that he’s Black?”

“Nobody said it matters, it’s just, there’s three dentists, there’s the lady doctor, the Black guy, and then that other guy.  There’s just three, is all.”

“Oh.”

Our man was out eighty dollars after the visit.  Could’ve spent ninety, but he was holding out hope for that last one.  And they didn’t let him keep the teeth. 

I’m not sure the tooth fairy ever visits the county jail, anyway.

On birds watching.

On birds watching.

In jail recently, we were talking about birds.

“Yeah, my grandfather had something like a thousand chickens, had them running all through the yard,” somebody said.  “And there was this one chicken, he was a mean one.  I was kind of afraid of it, strutting around like he owned the place.  So my grandfather, he told me to kick it.”

“Well, I did, but that only made things worse.  I didn’t make him scared, I just made that chicken hate me.  So after that, anytime we went to visit my grandfather’s place, that chicken would be there, waiting for me.”

“My parents, my brothers and sisters, everybody would get out of the car, but the chicken wouldn’t bother them.  He’d be sitting there, staring, just waiting for me.  And when I finally got out I had to run, every time, sprinting to my grandfather’s front door before that chicken got me.”

“They live a long time, too!  I had, like, five or six years of that!  And still to this day, anytime my mom sees a video or a picture of somebody running from a chicken on Facebook, she’ll tag me in it.  Like, ha ha ha, remember that?”

#

“Maybe you didn’t kick him hard enough,” somebody suggested.  “Cause we used to have chickens, and I had to go into the coop sometimes, and the roof of it was real low to the ground, so I had to crouch in there like this, and one chicken would always strut up to me like it was going to start something.”

“Well, it did that every time for a few months, till one day it got in my face and I just went BOOM, and I wrestled that little fucker to the ground.  And that chicken never messed with me again.”

#

Birds can recognize individual humans. 

Biologist John Marzluff noticed that crows became wary of particular researchers after the crows had been captured and tagged.  In an experiment where researchers captured a half dozen crows while wearing a caveman mask, they found that the whole flock learned to respond to that mask as a threat.  Several years later, even crows who hadn’t seen the caveman’s initial misbehavior would shriek a warning when they saw that mask.  They’d been trained by their flockmates.

The caveman mask is on the left. On the right: a control mask.

#

Between their intelligence and acute eyesight, birds can serve as passable oncologists.  Pigeons were trained with a set of slides from biopsies – a pigeon had to inspect each image and then choose a button for “cancer” or “not cancer”.  If the pigeon chose correctly, the computer would dispense a pellet of food.

(Human medical students are often mistreated during their training, forced to work grueling hours with few breaks.  The pigeon trainees were also mistreated – to ensure that they valued each food pellet, the pigeons were starved during the experiment.  I’m 6 feet tall and about 150 pounds, but if I were participating in this study, I’d be kept at 127 pounds – eighty-five percent of my “free feeding” weight.)

Pigeons learned to diagnose biopsies with 80% accuracy.  A team of eight pigeons voting together could diagnose biopsies with 99% accuracy

The team of pigeons was just as good as a human oncologist, and far better than computerized image analysis.

You can buy 50 pounds of pigeon pellets for under $10.  That’d give you enough rewards for a flock of half-starved pigeons to diagnose thousands of patients.

#

We used to think that an entire class of vertebrates had gone extinct – the dinosaurs.  But we now know that birds are dinosaurs. 

Several species of dinosaurs/birds are gone – millions of years have passed since tyrannosaurs or velociraptors roamed the earth.  But their lineage has continued.

When I was growing up, people often remarked that dinosaurs were clearly dim-witted creatures because they have such small cranial cavities.  There was not much room for brains in their skulls! 

But contemporary dinosaurs/birds have small brains, too, and many are extremely intelligent.  They can chase kids who’ve crossed them.  They can diagnose cancer.  They can make tools, solve logic puzzles, and guess what other animals are thinking.

All with minuscule brains!

When biologist Suzana Herculano-Houzel investigated the brains of various species, she found that the number of neurons in a brain typically correlates with cognitive capacity.  More neurons makes for a smarter critter!

The physical size of a brain doesn’t tell you how many neurons will be in a brain, though.  A bigger brain might just have bigger neurons

As it happens, birds’ brains are constructed better than our own.  Crows and parrots pack neurons into a brain more densely than we do, like the difference between old IBM mainframes and modern telephones.  Pigeon brains are better than ours at parallel computing, like the difference between a hypothetical quantum computer and your current laptop.

We can outsmart crows, parrots, and pigeons, but only because our raw neuron counts are so high that we’ve not been surpassed by their superior designs.

We don’t know when dinosaurs/birds evolved their high neuron densities – well-designed brains might be recent innovations, or they might be millions of years old.  Ancient dinosaurs may have been far more intelligent than we thought.

Yes, they still went extinct, but you can’t blame them for succumbing to climate change.  And it’s not like they caused the climate change that killed them.

Future archaeologists might judge humans to be more foolish than any stegosaurus.

#

We humans have huge numbers of neurons in our cerebral cortex.  We are blisteringly clever.  We’ve made all variety of tools, languages, and complex social structures.  Yes, crows also have tools, language, and complex social structures, but in each category, human achievements are even more complex.

A crow tool is typically a hooked piece of stick.  We built telephones.

Well, humans collectively built telephones.  I couldn’t sit down and build one from scratch.  If I were to make a tool while out hiking, it’d probably be a hooked piece of stick.

Still, our best achievements are pretty incredible. 

But we’ve also brought our species to the brink of extinction.  Through overpopulation and excessive exploitation of the planet’s trapped resources, we’re making our world less habitable. 

Tyrannosaurus ruled this planet for a few million years.  Humans have been a dominant species for only a hundred thousand years – a few percent of T-Rex’s reign.  With the current pace of climate change, scientists soberly discuss the possibility that we’ll reap apocalypse within a hundred more years.

Measured by reign, we might prove 20-fold less successful than those giant birds.

On the sacred.

On the sacred.

In jail, we were discussing isolation when somebody mentioned the plummeting price of marijuana.  We’d read a quote from quantum physicist Richard Feynman about sensory deprivation:

I went into isolation tanks and got many hours of hallucinations, so I know something about that.  Ordinarily it would take me about fifteen minutes to get a hallucination going, but on a few occasions, when I smoked some marijuana beforehand, it came very quickly.  But fifteen minutes was fast enough for me.

The guys asked me when these experiments had happened. 

“Late 1950s, early 60s,” I told them.

“Man, marijuana must have been so expensive then!  Just in the last few years, the prices fell so hard.  Like now you can get five pounds for fifteen hundred bucks.”

I was shaking my head.  “Five pounds?  The most I ever bought at once was half an ounce, back when I lived in California.  Even then, I think I paid two hundred for it.”

“Two hundred dollars?  You got ripped off!”

I laughed.  “Yeah, but I probably deserved it.”

“Let me tell you,” the guy sitting next to me said, “next time you see me on the streets, I could hook you up with some good stuff.”

I demurred.  “I haven’t smoked in so long, you could probably sell me a baggie of oregano, I’d hardly know the difference.”

The guy’s face fell.  The room grew silent.  Until somebody shouted, “Oregano?  He just called you a major asshole!”

I felt pretty bad.  I’d really hurt his feelings.

#

As it happens, this guy – the one whose feelings I’d hurt – is in jail for robbing me.

Unsuccessfully.  Possibly by accident.  But still.

There was a dropped wallet.  His attempt to use my family’s Health Savings Account debit card to buy two sandwiches and a pack of cigarettes.  Some yelling at whomever was working the counter at Village Pantry when the card wouldn’t go through.  Then an arrest.

That whole episode transpired almost three years ago.  But I didn’t learn who it was until last month, when the prosecutor sent a letter to us asking for a victim statement.

The guy has been in my class several times before.  I like him – he reminds me of an old friend of mine, enthusiastically participates in our classes, and always bikes over to say “hi” when I see him on the street.  Apparently they’d put him on probation after the debit card incident, but now, after another slip up, they’re trying to slap him with all his backup time.

#

Everybody in class laughed when I told him he was there for robbing me.  He said he hadn’t known whose card it was.  I shrugged and asked him to write an apology to my spouse.  Then we sent letters to his prosecutor and the judge, asking for leniency.

Money isn’t sacred.

Photo by Todd Huffman on Flickr.

I’ve heard guys tell stories about taking money from each other.  The story might end with somebody getting punched in the face, but there aren’t hard feelings.  Money comes and money goes.  It’s just paper.  Or less: numbers inside a machine.

That HSA account only has money in it through a fiction agreed upon by my family, the pharmacy, and the bank.  We scan a card and the value of our account goes down.  Nothing physically happens.

Financial trickery seems so hollow compared to sandwiches or cigarettes.

#

But passing off drugs as something they’re not?  That violates something sacred.  Inside the jail, people’s possessions are stripped away – all they have left are their reputations.

You don’t have to be honest all the time.  You can embellish stories about cops you’ve evaded, people you’ve slept with, money that’s slipped through your fingers.  That’s all harmless talk.  Passing the time, shooting the shit.

If you’re there for hitting a girlfriend, you can say you failed a drug test.  Or admit you’re in for domestic, but say that you didn’t do it.  For the sake of your future, maybe it’s best you tell an alternate story often to believe it.

When you’re talking about drugs, though, people can get hurt.  If you say it’s dope, it’d better be dope.  Not pot dipped in embalming fluid.  Not heroin spiked with fentanyl.

I won’t tell another joke about oregano.

Indeed, the guy who’s in jail for trying to use our HSA card isn’t too upset about most of his charges.  But one really rankles him:

“Do you remember that time, summer of that ‘Occupy Bloomington’ thing, when all those people kept going to the hospital cause they were ODing on bad spice?  The cops tried to pin that whole thing on me!  They put my picture on Fox News.  I was so fucking pissed!  I’ve done some stuff, but I didn’t do none of that.”