Sword of Daedalus

You might remember the old story of Daedalus, an ancient Greek who envied the king’s power and wealth. The king invited Daedalus to take his place at the feast, to sit in the chair of honor. Daedalus was delighted! Surveying his former peers sitting below him, he happened to glance upward. To his horror he saw a sword dangling over his head by a single thread. This, the real king explained, was his position every day.

Nor did the king exaggerate: ancient and medieval monarchs were murdered regularly. Despite apparent power, being a king wasn’t a safe occupation.

Like Daedalus, we middle-class Americans sit in apparent security, but in actual vulnerability.

If you have a mortgage, the bank can seize the smallest pretext - they can mess up your payment themselves - and use it to foreclose on your house. The courts favor their cause almost without question.

The police may be dispatched to the wrong house, kick in your door, beat you up. They may seize any cash you hold during travel. And you will not be able to hold the police or the police department or the city or anyone to account. I’ve read the cases, it’s almost impossible.

If you are accused of a crime, you are likely to be convicted. A prosecutor can throw almost anyone in jail at will, and will freeze all assets you might have used to defend yourself. Ken White reports that his middle-class criminal defendants frequently invent conspiracy theories: this process is so unfair and malicious, someone must be out to get me!

If you require medical attention, you’ll be unable to get a straight accounting or any justification for the exorbitant bills slapped on you.

On all these dimensions, and more, America is not really a safe place to live. If you are middle class, the probability of these things happening is low, yet if they do happen your life is all but ruined. We live in a black swan world with regard to the banking, police, criminal justice, and medical systems.

It is only prudent to prepare alternatives.