Notes from the edge of civilization: September 8, 2024
Big Brother rides shotgun; Coke and Pepsi experience fizzy fallout; Social Security on life support; get ready to move to Delaware and eat ramen in retirement.
For longtime readers of Collapse Life this story will come as no surprise and yet, it’s worth reiterating as the last vestiges of privacy are stripped away by a voracious, data-hungry control grid unyielding in its quest to dominate every facet of life.
Ford just filed a patent for a system that would track your driving habits, eavesdrop on your in-car conversations, and serve you ads right through your car’s speakers and screens. Think of it as a personal stalker with a marketing degree. Documents reveal that this system could use your GPS to suggest stops along your route — if you’re heading to a grocery store, expect a pitch for the latest sale, or worse, a detour to a competitor. And it doesn’t stop there; the system would learn your preferences, so if you’re the type who loves audio ads, you might get them every five minutes.
Not creepy enough? Ford's new tech might even recognize the voices of passengers in the car and tweak its ad strategy accordingly, using cameras and microphones to pick up on who’s saying what.
Don’t worry, though; the geniuses have thought of “safety features” to prevent visual ads from popping up while you’re driving or in school zones — because nothing says ‘responsible innovation’ like targeting distracted drivers with ads.
Ford is quick to point out that filing a patent doesn’t necessarily mean the technology is imminent. But it doesn’t necessarily mean it’s not, either.
In a statement issued to Motor Trend magazine, Ford said: "Submitting patent applications is a normal part of any strong business as the process protects new ideas and helps us build a robust portfolio of intellectual property. The ideas described within a patent application should not be viewed as an indication of our business or product plans. No matter what the patent application outlines, we will always put the customer first in the decision-making behind the development and marketing of new products and services."
Automakers have been gathering data on you for a while now — tracking your driving habits to collecting intimate details like health and even sexual activity (thanks, Nissan). The auto industry has been quietly selling your data for pennies on the dollar. A congressional investigation found some companies hawking your info for as little as $0.26. Subaru considers just sitting in one of their cars as consent to this data grab. So next time you think about belting out your favorite tunes on a road trip, just remember, your car might be eavesdropping.
As we’ve said before here on Collapse Life, it's not too late to enjoy the freedom of the open road… you just need to get a screen-free, analog car and keep it going as long as you can.
After decades of building their market share in Muslim-majority countries, pouring millions into marketing and manufacturing, Coca-Cola and PepsiCo are now grappling with widespread regional boycotts. Since the events of October 7, consumers in countries like Egypt, Lebanon, Pakistan, and Bangladesh have been turning against the American icons over perceived ties to Israel. A boycott, led by Arab nations, has translated into declining sales and market share for both companies.
In Egypt, sales of Coke have cratered this year, while local brand V7 exported three times as many bottles of its own cola in the Middle East and the wider region than last year. In Bangladesh, an outcry forced Coca-Cola to cancel an ad campaign against the boycott. And across the Middle East, Pepsi's rapid growth evaporated after the Gaza war started in October.
The boycotts have breathed new life into local soft drink brands. In Pakistan, alternatives like Cola Next and Pakola have seen a sharp rise in popularity, now capturing about 12% of the soda market on delivery platforms, up from a mere 2.5% before the boycott.
In Karachi, one bride reportedly replaced the iconic sodas at her wedding with local Cola Next, stating she didn’t want her money indirectly supporting US and Israeli interests.
Pakistani corporate executive Sunbal Hassan kept Coke and Pepsi off her wedding menu in Karachi in April. She said she didn't want to feel her money had reached the tax coffers of the United States, Israel's staunchest ally.
"With the boycott, one can play a part by not contributing to those funds," Hassan said. Instead, she served her wedding guests Pakistani brand Cola Next.
The future for US Social Security has been looking grim for several years, and the latest report from the Old Age, Survivors, Disability Insurance (OASDI) trustees does little to quell the nerves. The 2024 report reveals a staggering $63 trillion in unfunded liabilities over the long term.
As trust fund reserves dwindle, shortfalls will only grow, and potential fixes like hiking the payroll tax to 17% or slashing benefits by 26.5% are about as appealing as they sound. Economist Laurence Kotlikoff told the Epoch Times he thinks focusing on 75-year projections is like removing half a tumor and hoping it doesn’t grow back (spoiler alert: it will). He’s calling for radical reforms to ditch the current system entirely, suggesting a fully funded, progressive retirement account model that might actually keep Social Security afloat.
Meanwhile, Mark Warshawsky of the American Enterprise Institute warns that all these forecasts are based on sunshine and unicorns, assuming no financial crises, wars, or new pandemics, and that tax revenues will magically rise (spoiler alert: they won’t).
With Social Security trust funds projected to run dry by 2033, recipients could face a 21% benefit cut unless Congress acts. Proposed solutions range from raising the eligibility age to taxing higher earners more heavily, but none are politically easy. Meanwhile, benefits are already losing value against inflation, and retirees are feeling the pinch as cost-of-living adjustments fail to keep pace.
Those still working may want to rethink retirement strategies, as counting on Social Security could leave you scrambling to cover the basics. In short, as Peter Grandich has told us again and again, it’s time to build your financial ark.
Many retirees are facing a double hit: the financial strain of choosing where to live coupled with the reality of shrinking Social Security benefits as trust funds run dry. With Social Security’s soaring unfunded liabilities and the potential of benefit cuts looming on the horizon, many seniors are squeezed by both inadequate benefits and the high cost of living in their chosen states.
As cost-of-living adjustments (COLA) struggle to keep pace with inflation, it’s becoming crucial for future retirees to carefully consider not just how much they’ll receive from Social Security, but also where they can afford to stretch those dollars the furthest in their golden years, since location can significantly impact retirees' financial stability and quality of life.
A study by Bankrate.com ranked the worst states for retirees in 2024, focusing on affordability, well-being, healthcare, weather, and crime. Unsurprisingly, the most challenging states to retire in are often those with high costs and cold climates, with Alaska topping the list due to high living expenses despite no state income tax. Other states like New York, Washington, and California also struggle due to high costs. Even Texas, despite its warm weather and lack of income tax, scored poorly on well-being. Delaware tops the list of best states to retire this year, followed by West Virginia and Georgia.
Social Security is most definitely not on "life support." I was once a sub-contractor for the SSA, and I'd like to pass along some information on the program.
Social Security has its own dedicated revenue stream and therefore it doesn't contribute a penny to the federal deficit. In fact, it currently enjoys a $2.8 trillion surplus. And Social Security is forbidden by law from borrowing, so it cannot deficit spend.
Social Security’s revenue was about $1.09 trillion in 2021. The program has three sources of income. The largest source comes from workers and employers who contribute 6.2% each on wages up to $160,200 a year; this raises 90.1% of the total. The second source is investment income from Social Security’s reserves, which are held in Trust and invested in interest-bearing U.S. Treasury bonds; this raises 6.4% of total revenue. Finally, Social Security gets 3.4% of its revenue from the income taxes that higher-income beneficiaries pay on a portion of their Social Security benefits.
Social Security can never go bankrupt. Nearly all (97 percent) of its income comes from the contributions of workers and employers, including interest on these contributions. Hence as long as there are workers in America, Social Security will have income. Even if Congress were to take no action, Social Security could pay 100% of promised benefits for the next 12 years, and more than three-quarters of benefits after that. Around 2035 there will be a modest funding gap requiring modest increases in revenues to guarantee everyone 100% of promised benefits.
The vast majority of Social Security’s funding gap can be easily closed by scrapping the payroll tax cap. Currently, millionaires and billionaires make payroll tax contributions on only the first $160,200 they make in annual wages.
Furthermore, it's an extremely efficient program, with administrative costs of less than a penny on the dollar. No other program can match that.
Finally, without Social Security, the poverty rate of our seniors would be 38%; instead it is just under 9%. I am one of those seniors who relies on Social Security. I have paid into the system since I was 14 years old, when I got my first payroll job. So I earned my money and am grateful to have it so I don't have to work until the day I drop dead.
There's a lot of misinformation floating around, put out there by people who want to destroy and/or privatize the program. Which would be a disaster for beneficiaries.
Congress has borrowed extensively from the Social Security trust fund to pay for things like unfunded wars, tax cuts for billionaires, and corporate subsidies. They don't want to pay it back, so instead they want to cut our benefits. So when they tell people that they need to cut benefits to "balance the budget", they're LYING. Again: Social Security doesn't contribute anything to the national debt.
What gets me is that so many people don't seem to care that all their data is taken without consent for whatever purpose the company wants. They yell "hey google" for quick answers, drive smart cars, live in smart homes, watch smart TV. They want convenience, instant gratification, and the price is loss of privacy, and most likely they are exploited and manipulated. I can't seem to convince some friends of the danger, they think I'm a nut, but it scares me because I'm aware of the malfeasance and therefore a target.