Summary of I Survived Capitalism and All I Got Was This Lousy T-Shirt by Madeline Pendleton: Everything I Wish I Never Had to Learn About Money

By Justin Reese

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This book does not in any capacity mean to replace the original book but to serve as a vast summary of the original book.

Summary of I Survived Capitalism and All I Got Was This Lousy T-Shirt by Madeline Pendleton: Everything I Wish I Never Had to Learn About Money

IN THIS SUMMARIZED BOOK, YOU WILL GET:

• Chapter astute outline of the main contents.
• Fast & simple understanding of the content analysis.
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Madeline Pendleton's memoir, I Survived Capitalism, is a relatable and thought-provoking read about her journey from struggling to create a multi-million-dollar business that offers a compassionate alternative to capitalism. Pendleton, raised by a punk dad and goth mom, experienced financial struggles and eventually found a better way to make ends meet. She studied the rules of capitalism and built a new kind of business rooted in community care. The memoir is essential for millennials and Gen Zers facing financial challenges such as stagnant wages, housing costs, and student debt. It offers no-nonsense life and money advice, including negotiating pay, building credit, and putting home ownership within reach.

• Language: English
• Publisher: jUSTIN REESE
• Release date: Jan 22, 2024
• ISBN: 9798224260720

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NOTE TO READERS

This is an unofficial summary & analysis of Madeline Pendleton’s I Survived Capitalism and All I Got Was This Lousy T-Shirt: Everything I Wish I Never Had to Learn About Money designed to enrich your reading experience.

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The contents of the summary are not intended to replace the original book. It is meant as a supplement to enhance the reader's understanding. The contents within can neither be stored electronically, transferred, nor kept in a database. Neither part nor full can the document be copied, scanned, faxed, or retained without the approval from the publisher or creator.

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PREFACE

In Los Angeles, summer is a beautiful time with bright blue skies and a warm Southern California sun. The protagonist wakes up to the warmth of the sun and their dog, MoDog, rustling beside them. They notice MoDog wagging her tail and licking their face, which is unusual for them. Most mornings, MoDog wakes up with Drew, who would talk to him and make coffee in the kitchen. They would then take MoDog for a morning hike in the canyon.

This morning, there was no coffee and MoDog was still there, anxiously waiting for something to happen. The protagonist refuses to be pressured and enjoys their morning routine, including taking their morning shower together. They sometimes write notes on the bathroom mirror, like I love you with hearts drawn everywhere. The protagonist wonders if he left a note there this morning. Back in their bedroom, MoDog's old boots and jeans are thrown on a chair near the bed, and the protagonist folds them, keeping the belt on.

The narrator is searching for her boyfriend Drew, who has been struggling with financial issues and bankruptcy. She texts his friend Paul to ask if he has seen him and he responds by coming over. The narrator is worried about their morning routine and wonders if something had happened to Drew. They walk down Fryman Canyon, where a police officer stands guard at the top of the canyon. The officer tells the narrator that there has been an injury to a hiker at the bottom of the canyon. The narrator tries to identify the hiker but is unsuccessful.

The narrator finds a photo of Drew, which she shows to the officer, and they wait for him to return home. Paul arrives with a new girlfriend, and they discuss the situation. The narrator is surprised to find that Drew was having money trouble and shot himself in the heart. The police officer tells the narrator that Drew killed himself in the canyon near their house, where he played songs on his guitar and they went on long evening walks.

The narrator learns a horrible lesson: capitalism is a matter of life and death, with high stakes and unexpected consequences. The story highlights the importance of understanding the consequences of one's actions and the consequences of not doing so.

INTRODUCTION

At the age of 28, the author was struggling financially, with $65,000 in debt and a median rent of $896 per month. The United States Housing and Urban Development Department states that paying over 30% of income towards housing makes you cost-burdened, and anything over 50% makes you severely cost-burdened. Financial issues are the fifth leading cause of divorce in the United States and a leading predictor of instances of depression. In 2021, 73% of Americans ranked financial issues as their number one cause of stress, with over 80% of people born after 1980 reporting that they find their finances to be a source of stress.

The author found books written by men much older than them about how to survive in a world that didn't seem to exist anymore. Housing is more expensive compared to wages than ever before in U.S. history, and CEO compensation has grown 1,322 percent since 1978, creating the largest income gap between the rich and poor since 1928. College has increased nearly 169 percent in cost since 1980, making a college degree more expensive now than ever before. The number of Americans with medical debt is up to an all-time high of 50 percent as of 2020.

The author's book is the story of how they learned to navigate finances in this unprecedented time and went from sleepless nights gasping for air to owning their own home, running a multimillion-dollar business, and sharing the profit and wages from that business equally among themselves and every employee. It is a story about capitalism and how, if we're lucky, we might survive long enough to see a better system and a brighter future take its place.

No Place like Home

In 1998, the New Radicals' song You Get What You Give was popular in Fresno, a city of over half a million people. The city is known for its poverty and concentrated poverty level, making it one of the poorest cities in the country. Growing up in Fresno, the author experienced the real-time effects of trickle-down economics, which involved cutting social programs while decreasing taxes for the wealthy to help the poor.

In the 1980s, Fresno had a poverty rate of under 20%, but by 2000, that figure had roughly doubled, with aggressive increases in concentrated poverty rates hitting hardest throughout the late 1980s and early 1990s following Reagan's economic policies. Crime rates skyrocketed, and today, Fresno has a crime index of 9, making it safer than just 9% of other U.S. cities.

When the author grew up in Fresno, they felt safe with the neon lights of fast-food chains all around them. A new girl from Philadelphia moved to town and they became friends. They shared a common meal of frozen McDonald's burgers, which the author and her family enjoyed for every meal, even breakfast. McDonald's ran promotions where hamburgers were just 29 cents and cheeseburgers just 39 cents on Mondays and Wednesdays.

In a world that seemed to forget that places like Fresno, filled with poor people trying their best