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Yep, just look at the covid lockdowns and superstars posting crying videos, wanting sympathy from regular people, for being locked in ther multimillion dollar v
by ajsnigrutin 5y ago
Yep, just look at the covid lockdowns and superstars posting crying videos, wanting sympathy from regular people, for being locked in ther multimillion dollar villas with tennis courts and swimming pools.
Bubbles are bad... but if you don't want to escape from one by yourself, you'll stay there forever, your bubble won't move by itself.
- moffkalast 5y agoBubbles eventually burst, just ask an economist.
- throwaway2037 5y agoAustralian housing? Not yet. It's been... forever. Never burst in modern times. They even managed to ride the Global Financial Crisis tsunami in 2008. The income-to-sale-price multiplier is simply mind blowing. I do not understand it! Ref: https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/residential-property-price-indexes-eight-capital-cities/latest-release https://www.abs.gov.au/statistics/economy/price-indexes-and-...
- xxpor 5y agoSupply constraints are powerful things
- ajsnigrutin 5y agoAlso hoarding something, that has limited quantity.
- mc32 5y agoWhat happened to the wealthy? They used to keep these things amongst themselves rather than announce everything to the public. They used to use hidden signals of wealth to show themselves to each other but not reveal themselves to the public —but now it’s a contest for crass popularity. I guess Robin Leach opened the crack and Instagram et al opened the floodgates. It’s a bit pathetic. What the hell happened to the “millionaire next door” types? Someone who had wealth but you’d never know it?
- newsclues 5y agoMy theory is that too many of the “wrong” people got rich, so the luxury industry and media worked together to increase consumption and funnel the nouveau rich money to the “right” wealthy people.
- DocTomoe 5y agoThe real wealthy folks still are hush about their capital. The folks you see flinging cash and status around are - and always have been - the nouveau riche.
- mc32 5y agoPerhaps but Bezos, Branson, Ma, Musk, etc, aren’t the quietest bunch regarding their monies. We even have those who are wealthy but need to tell us how unwealthylike they live such as Dorsey. Just be.
- deleted 5y ago[deleted]
- coldtea 5y ago>Perhaps but Bezos, Branson, Ma, Musk, etc, aren’t the quietest bunch regarding their monies. Well, those are also crude nouveaux riches. Heck, they even had to somehow work for their money (even those of them that got some hefty support from their parents). As opposed to several generations of old money.
- tonyedgecombe 5y ago>the nouveau riche I'm not even sure that many are really rich. I recently read that the average net worth of a Ferrari owner is less than one million pounds and that most Ferraris are financed. Real wealth is what you don't spend.
- coldtea 5y agoReal wealth is what you get to enjoy.