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I was reading Walden, by Henry David Thoreau and this passage, written in 1854 — 166 years ago — seem capture the world we live in overflowing with crap churned out by the factories, at least in redneck land where you can still burn things

I was reading Walden, by Henry David Thoreau and this passage, written in 1854 — 166 years ago — seem capture the world we live in overflowing with crap churned out by the factories, at least in redneck land where you can still burn things. I tell you, when I own my own land, purges will be fiery ….

My furniture, part of which I made myself, and the rest cost me nothing of which I have not rendered an account, consisted of a bed, a table, a desk, three chairs, a looking-glass three inches in diameter, a pair of tongs and andirons, a kettle, a skillet, and a frying-pan, a dipper, a wash-bowl, two knives and forks, three plates, one cup, one spoon, a jug for oil, a jug for molasses, and a japanned lamp. None is so poor that he need sit on a pumpkin. That is shiftlessness. There is a plenty of such chairs as I like best in the village garrets to be had for taking them away. Furniture! Thank God, I can sit and I can stand without the aid of a furniture warehouse. What man but a philosopher would not be ashamed to see his furniture packed in a cart and going up country exposed to the light of heaven and the eyes of men, a beggarly account of empty boxes? That is Spaulding’s furniture. I could never tell from inspecting such a load whether it belonged to a so called rich man or a poor one; the owner always seemed poverty-stricken. Indeed, the more you have of such things the poorer you are. Each load looks as if it contained the contents of a dozen shanties; and if one shanty is poor, this is a dozen times as poor. Pray, for what do we move ever but to get rid of our furniture, our exuvi?; at last to go from this world to another newly furnished, and leave this to be burned? It is the same as if all these traps were buckled to a man’s belt, and he could not move over the rough country where our lines are cast without dragging them,—dragging his trap. He was a lucky fox that left his tail in the trap. The muskrat will gnaw his third leg off to be free. No wonder man has lost his elasticity. How often he is at a dead set! “Sir, if I may be so bold, what do you mean by a dead set?” If you are a seer, whenever you meet a man you will see all that he owns, ay, and much that he pretends to disown, behind him, even to his kitchen furniture and all the trumpery which he saves and will not burn, and he will appear to be harnessed to it and making what headway he can. I think that the man is at a dead set who has got through a knot hole or gateway where his sledge load of furniture cannot follow him. I cannot but feel compassion when I hear some trig, compact-looking man, seemingly free, all girded and ready, speak of his “furniture,” as whether it is insured or not. “But what shall I do with my furniture?” My gay butterfly is entangled in a spider’s web then. Even those who seem for a long while not to have any, if you inquire more narrowly you will find have some stored in somebody’s barn. I look upon England to-day as an old gentleman who is travelling with a great deal of baggage, trumpery which has accumulated from long housekeeping, which he has not the courage to burn; great trunk, little trunk, bandbox and bundle. Throw away the first three at least. It would surpass the powers of a well man nowadays to take up his bed and walk, and I should certainly advise a sick one to lay down his bed and run. When I have met an immigrant tottering under a bundle which contained his all—looking like an enormous wen which had grown out of the nape of his neck—I have pitied him, not because that was his all, but because he had all that to carry. If I have got to drag my trap, I will take care that it be a light one and do not nip me in a vital part. But perchance it would be wisest never to put one’s paw into it.

I would observe, by the way, that it costs me nothing for curtains, for I have no gazers to shut out but the sun and moon, and I am willing that they should look in. The moon will not sour milk nor taint meat of mine, nor will the sun injure my furniture or fade my carpet, and if he is sometimes too warm a friend, I find it still better economy to retreat behind some curtain which nature has provided, than to add a single item to the details of housekeeping. A lady once offered me a mat, but as I had no room to spare within the house, nor time to spare within or without to shake it, I declined it, preferring to wipe my feet on the sod before my door. It is best to avoid the beginnings of evil.

Not long since I was present at the auction of a deacon’s effects, for his life had not been ineffectual:—

“The evil that men do lives after them.”

As usual, a great proportion was trumpery which had begun to accumulate in his father’s day. Among the rest was a dried tapeworm. And now, after lying half a century in his garret and other dust holes, these things were not burned; instead of a bonfire, or purifying destruction of them, there was an auction, or increasing of them. The neighbors eagerly collected to view them, bought them all, and carefully transported them to their garrets and dust holes, to lie there till their estates are settled, when they will start again. When a man dies he kicks the dust.

The customs of some savage nations might, perchance, be profitably imitated by us, for they at least go through the semblance of casting their slough annually; they have the idea of the thing, whether they have the reality or not. Would it not be well if we were to celebrate such a “busk,” or “feast of first fruits,” as Bartram describes to have been the custom of the Mucclasse Indians? “When a town celebrates the busk,” says he, “having previously provided themselves with new clothes, new pots, pans, and other household utensils and furniture, they collect all their worn out clothes and other despicable things, sweep and cleanse their houses, squares, and the whole town of their filth, which with all the remaining grain and other old provisions they cast together into one common heap, and consume it with fire. After having taken medicine, and fasted for three days, all the fire in the town is extinguished. During this fast they abstain from the gratification of every appetite and passion whatever. A general amnesty is proclaimed; all malefactors may return to their town.—”

“On the fourth morning, the high priest, by rubbing dry wood together, produces new fire in the public square, from whence every habitation in the town is supplied with the new and pure flame.”

They then feast on the new corn and fruits, and dance and sing for three days, “and the four following days they receive visits and rejoice with their friends from neighboring towns who have in like manner purified and prepared themselves.”

The Mexicans also practised a similar purification at the end of every fifty-two years, in the belief that it was time for the world to come to an end.

I have scarcely heard of a truer sacrament, that is, as the dictionary defines it, “outward and visible sign of an inward and spiritual grace,” than this, and I have no doubt that they were originally inspired directly from Heaven to do thus, though they have no biblical record of the revelation.

Map: Shindagin Hollow State Forest Ortho
Map: Severence Hill Trail

What Is Driving the Worldwide Bond Selloff? 📜

Government bonds are selling off worldwide as investors demand higher returns to hold long-term debt. The core catalysts pushing global bond yields up include:

  • Geopolitical Conflict & Energy Costs: The expiration of peace negotiations between the U.S. and Iran has extended the closure of the Strait of Hormuz. This has driven Brent crude oil prices past $91 a barrel, stoking fears of stubborn, cost-push inflation across the economy.
  • Massive Government Deficits: Governments globally, especially in the U.S. where national debt is nearing $40 trillion, are issuing massive amounts of new debt. Investors are demanding a “term premium” (extra yield) to compensate for the risk of lending to highly indebted nations.
  • Central Bank Uncertainty: The Federal Reserve under new Chairman Kevin Warsh has reduced forward guidance and communication. This lack of clarity has left investors uncertain about future interest rate paths, adding volatility to the bond market.
  • The AI Boom Alternative: Technology giants are issuing massive corporate debt to fund artificial intelligence data centers and chip purchases. This heavy corporate issuance creates a capital-hungry competitor to sovereign bonds, forcing government yields higher to compete.

📈 The Relationship: Bond Price vs. Bond Yield

Bond prices and bond yields move in opposite directions.

When a bond is issued, it has a fixed face value (e.g., $1,000) and pays a fixed interest rate (the coupon rate, e.g., 4%). If market conditions change—such as inflation rising or a new Fed chair suggesting higher rates—investors will no longer want to buy that older 4% bond at full price when they can get higher returns elsewhere.

To sell that older bond in the open market, the owner must drop its price below $1,000. Because the fixed $40 annual payout remains the same, buying the bond at a discount means the buyer receives a higher effective return on their investment. That effective return is the yield.

Therefore, during a selloff:

  1. Investors sell their bonds en masse, forcing bond prices to fall.
  2. As bond prices fall, the mathematical yields rise to multi-decade highs.

💵 How It Impacts Americans’ Everyday Finances

Because government bond yields serve as the foundational benchmark for the global financial system, this selloff directly hits regular consumers in three distinct ways:

1. Surging Loan and Mortgage Rates

Consumer loans are closely tied to Treasury benchmarks. With the 10-year Treasury note spiking toward 4.75% and the 30-year yield hitting 5.34% (its highest since 2007), fixed mortgage rates are being driven up toward 6.5% or higher. This drastically increases the monthly cost of buying a home and raises interest rates on new credit cards, auto loans, and student loans.

2. Squeezed Stock and Retirement Portfolios

Higher bond yields create a “hurdle rate” for equities. When investors can get a safe, guaranteed 5.3% yield from government debt, they pull money out of riskier assets like stocks. This shift has already caused recent drops in major stock indexes like the S&P 500 and the Nasdaq, directly lowering the value of 401(k) accounts and retirement portfolios.

3. Strained Corporate and Banking Balance Sheets

As corporate borrowing costs rise alongside Treasury yields, businesses find it more expensive to expand, hire, or roll over existing debt. Over time, this can lead to cooling job growth. Furthermore, prolonged drops in bond prices devalue the existing bond portfolios held on bank balance sheets, generating underlying stress within the broader financial sector.

Map: Severence Hill Trail
Map: Gilman Lake
SVGZ Graphic: Ukraine vs. Midwest

Global Economy Is Suddenly Fighting an Energy Stranglehold on Three Fronts – WSJ

Global Economy Is Suddenly Fighting an Energy Stranglehold on Three Fronts – WSJ

Conflict in the Middle East broadened this week with Tehran-backed Houthi militants turning tankers back from the Bab al-Mandeb strait. The Red Sea maritime chokepoint, which has become the biggest export route for Saudi Arabia’s crude following the Strait of Hormuz closure, accounted for roughly 12% of the world’s seaborne oil flows before the war.

Another disruption: Ukraine has mounted sustained attacks on Russian energy infrastructure and ships in the Black Sea. A barrage of strikes in the waters near the port of Novorossiysk, which handles nearly a third of Russia’s oil exports, paused flows through a pipeline that delivers Russian and Kazakh oil to the Black Sea.

The closing of the three chokepoints collectively imperils roughly a quarter of the world’s oil supply and provides a fresh test of the ability of energy-hungry economies to adapt.

Oil is at the heart of two major conflicts consuming the world’s attention. Iran’s ability to starve the world of supply from the Gulf has emerged as its most potent form of leverage against the U.S. Ukraine has increasingly disrupted Russia’s energy exports and domestic fuel markets, giving Kyiv unexpected momentum in the four-year-old conflict.

Caveat Emptor Banking

I was reading about the scam fin-tech company, Yotta Bank, a financial services company masquerading as a bank. Unlike banks and credit unions, there is no government-backed insurance or supervision of bank assets in financial services companies compared to banks – even when they claim such backing. It is really essential to confirm a bank is a bank by searching the FDIC BankFind Suite, especially when putting money in a high-interest internet-only savings account – which makes sense as most retail banks and credit unions offer very low rates due to the high cost of offering in-person service. Credit unions offer similiar banking opportunities to banks, you can verify they are insured like an FDIC Bank through the NCUA Credit Union Locator service. People expect the government to protect them, but the government doesn’t always do that, so check yourself.

For going on 20-years now, I have had an high-interest savings account. It has changed hands several times since I opened it, but before opening it, I confirmed with the FDIC BankFind Suite that it’s an FDIC insurance was legimate and that it was a legitimate bank, even though it is associated with a large banking insitution. It has rolled over into a couple of different banks since then, and just recently I found out the bank name had changed again, and I promptly went to FDIC BankFind Suite to make sure my savings was still in a legitimate bank. While I doubt it would be legal for a FDIC insured banking institution to transfer funds from an FDIC account to a non-FDIC account, it is always good to regularly confirm such details, especially when the bank you are dealing with does not have a physical branch locally.