Tag Archives: middle class

Abnormally Normal

If I wanted to make light of the sense I’m feeling, I’d say that I feel ‘a disturbance in the force’. Or I’d reference that meme of a dog in a house fire, sitting at a table having coffee, as if the world is fine.

But the new normal is not normal. The dichotomy of politics, the hatred between religious extremists, the focus on vengeance and public shaming in social media, police violence against citizens, the inability to share middle-ground opinions without fear of being ‘othered’ by both sides of the political dichotomy… it’s like we’ve slipped into a dystopian movie, and we are left wondering if this is real life?

It is.

We are bearing witness. We are seeing the collapse of modern society. Sovereignty used to matter, it doesn’t matter anymore. Neighbourly love used to matter, it doesn’t anymore. The rule of law used to matter, it doesn’t anymore. Civility, etiquette, respect, and even kindness used to matter, they don’t matter anymore.

And yet in our day-to-day not much is different. We can rant because we don’t like what we see, or we can move forward blissfully and blind to the world beyond our own existence. Our tolerances vary, but the shenanigans that alter what’s normal in society seem to slip greater into the abnormal without us being able to influence it in any way.

Pick a decade after WWII and tell me how it was more abnormal than what we are seeing today. I can’t.

When I say, “We are seeing the collapse of modern society,” I am not being hyperbolic. I’ve only mentioned social/political abnormalities, without mentioning climate change, microplastics, artificial intelligence, or even cost of living and the decline of the middle class. Factor all these things in and the new normal is anything but normal. Except that’s exactly the point… somehow this is what normal is.

Margins over manpower

Amazon just laid off over 14,000 people. According to Beth Galetti, Senior Vice President of People Experience and Technology at Amazon, who wrote that they are ‘Staying nimble and continuing to strengthen our organizations’, “The reductions we’re sharing today are a continuation of this work to get even stronger by further reducing bureaucracy, removing layers, and shifting resources to ensure we’re investing in our biggest bets and what matters most to our customers’ current and future needs.

What are the ‘biggest bets’ they they are investing in? Chips. AI chips. Profits before people. Margins over manpower. The human equation in a company no longer matters. People are as expendable as office supplies. Need cost savings? Fired employees save a lot more money than reducing the cost of paper and staples.

The shareholder model of capitalism is slowly collapsing. It’s the middle and upper middle class that is getting laid off. Meanwhile, large companies like Nvidia invest billions of dollars in Open AI, and Open AI takes that money and buys Nvidia chips. Simultaneously, all these companies lay off staff to amplify margins, buy more chips and grow even larger.

Top executives who are already making millions hit their shareholder targets and get bonuses. Meanwhile regular employees face layoffs and have no job security. You think your $200,000 job is safe? Only until the next quarter’s earnings are going public, or until the merger is completed after your small company is swallowed up by one of the big guys.

If it was just Amazon, that would be one thing, but similar reports of layoffs have recently been announced at IBM (9,000 jobs in the US alone), UPS (34,000 jobs), Nestle (16,000 jobs), Intel (24,500 jobs)… the list goes on. What happens to the global economy when hundreds of thousands of people become jobless while large companies recycle their money, reinvesting in each other in circular deals where funding is promised back to the investors in product purchases?

What happens in a world where profits and margins matter more than people?

Economic mysteries

I don’t pretend to understand economics, but I’m beyond confused about what’s going on in the world? Countries are printing money like mad, but inflation is in check and so are interest rates.

It’s a seller’s market in real estate and price wars are happening. Family members got over asking price for a condo just north of Toronto. A friend of mine just got $100,000 over asking for a townhouse in Vancouver without inspection/conditions.

I understand why companies like Microsoft and Amazon have highly valued stocks, they have truly benefited from remote working/learning and lockdowns, but why is the whole stock market doing well, while retail companies and restaurants are laying off staff and imploding?

I’ve just tried a couple times to explain these patterns, but deleted each attempt. They are pure speculation on my part.

My fear? An eroding middle class and a world divided between the have’s and the have nots. Is this how it starts? It’s shocking how many people live paycheque to paycheque, and I’m not sure those numbers are getting better? Is this upside down and inflated economy going to last? And if it doesn’t, how will this effect the poor? The middle class?

I hope someone is paying attention and looking to the future, because I don’t think I’m the only one that sees this as a big, puzzling mystery.