‘Tis the season, and I hope that by the time this piece is published, we all have reason to be jolly. Joy to the world, but screw you and you and you — not to mention you! Okay, with any luck, Christmas will be filled with good cheer, but forgive my pessimism, as I am not getting my hopes up for any “peace on earth, good will towards men” as we head into the new year. By the way, for those that might not be aware, the well-known phrase “peace on earth, good will toward men” comes from the King James Bible (Luke 2:14) and in full states; “Glory to God in the highest, and on Earth, peace, good will toward men.” The common expression “Peace on Earth, good will toward men” seems to be a sentiment to which we can all relate and by not quoting the latter phrase verbatim, it probably helps to include the atheists and agnostics among the population.
With a bit more investigation, I came across some other translations of the famous adage and these translations, such as in the English Standard version, come with a qualification that states, “Glory to God in the highest, and on Earth, peace among those with whom he is pleased!” Surprisingly, this version is not an anomaly as there are quite a few other Bibles attaching this stipulation to an otherwise adoring or secular quote. In any case, I remain pessimistically hopeful that by 2024, we can get ourselves a little bit closer to peace on Earth, regardless of the odds being stacked against us.
Economics 101
Apparently, despite inflation, the economy is doing well. That doesn’t necessarily mean that we, the general population, are doing well, it means that big business such as in the energy sector, technology and finance are doing well. While many of us will not be buying a house due to the high interest rate, lenders such as banks will profit from the higher interest rates put in place to curb spending. Unfortunately, trying to understand the economy makes my head spin, because what sounds like positives are those same things that lead to inflation, which seems like a negative. For example, when there are more jobs and higher wages, then individual household incomes are augmented. This increased income, which seems like a positive, leads to more spending that, apparently, is a negative as it increases demand, which then causes businesses to increase the price of their goods and services — and this is what causes inflation.
I am not an economist, so I find it hard to visualize the more abstract imagined realities of high finance. The best way for me to understand these lofty concepts is to apply it to my own business. I can say that in regard to audio, the job market is up. Engineers, stagehands, riggers and everyone else involved with putting on a show are gainfully employed and they are working for a higher wage. Because of this, the company for whom I work had to increase the wage that we offer technicians — not only to attract better techs, but to keep the ones we already have. This, in turn, makes it possible to justify a raise in the cost of the equipment we rent.
Of course, while everybody appears to be making more, we are all spending more as well, and supposedly, this rise in spending is exactly what caused the interest rates to go up in the first place. Now, as the interest rates are up, it’s harder to finance new equipment or buy a house. Therefore, the only way to take advantage of the situation is to put as much money as possible into some sort of savings account and stop spending so the interest rate can be lowered. Of course, the reality of the situation is that you and I are not the real spending culprits: that title is held by the government. Trying to understand the national debt is akin to trying to solve a Rubik’s cube wearing a blindfold, but just for reference, the U.S. pays interest on the national debt in the neighborhood of $700 billion a year.
War = Money
When all else fails, wage war. War is profitable and fuels the economy. This has always confused me, but then again, other than paying taxes, I’m not a player in the war business. What I do know is that when we hear that $8 billion of taxpayer money has been earmarked for one war or another, it doesn’t necessarily mean that the receiving party is having pallets of $100 bills dropped on their doorstep.
A good portion of that money is used to purchase weapons, ammunition, tanks, oil, natural gas and humanitarian aid. The companies supplying these items are our own munition manufacturers and energy and defense contractors and — when they are recruited — they provide everything from armaments, satellite services, food and blankets. While aiding our allies, it also fills the coffers of the aforementioned companies, and that, of course, boosts our economy. Even in times of peace, the military industrial complex is somewhere selflessly at war or funding a war in order to keep our economy booming.
While war might be good for staving off economic depression on a large scale, I’m not so sure that we are renting more consoles or doing many more shows than we’ve done in the past. We might be making more money, but then again, the price of buying new gear has risen, and we are paying more in labor costs and trucking. Fortunately, we are all getting raises because one needs a bucket of cash to go to the grocery store to buy less with more money.
Unfortunately, this conundrum just makes us feel as though we are running in place. So be assured that it’s a good thing getting involved in the Middle East, because no matter which side you take, our economy should only improve. That said, I’d like to wish everyone a Merry Christmas and a prosperous New Year of doing more shows and more events and renting out more equipment and, while you’re hibernating during these cold months of economic growth, may you pick up a great tour for the spring and summer of 2024. Lastly, while peace may be our economic downfall, I’d still like to wish one and all (with no caveat), “Peace on Earth, Good Will Toward Men.”
Contact Baker Lee at blee@fohonline.com.
