> Are rich kids with poor friends more likely to slide on the economic ladder than rich kids who are isolated to neighborhoods with only other rich kids? I've

> Are rich kids with poor friends more likely to slide on the economic ladder than rich kids who are isolated to neighborhoods with only other rich kids? I've seen the opposite, anecdotally. The rich kids who hang out with other rich kids often get into economic competition trying to out-do each other with more and more elaborate toys. The spending arms race pretty much bankrupts some of them. The smarter ones get lucky when they spend on assets that actually rise in value like, say, a beach house. The dumb ones buy boats or cars and crash them.