I HATE rich people...

[klogaroth]

The only thing that bothers me is the whole taking a cue from rich people thing that we do. And it's not just rich people that do that.

Yes, if you emulate what rich people do there is a chance that you too can become rich. What people don't always do is look at how good that chance is.

If I sink loads of money into something that has an outside chance of making me very rich there's a good chance I've just thrown that money away. There are 7 billion people on earth though. Someone is going to wind up on the winning side of taking that chance, and they're the ones that you're going to hear about. You're not going to hear about the millions of people who didn't make it in some book on how to be like rich people.

Our approach to success at the moment is almost like medieval medicine. John had a headache and when he rubbed a goat's balls all over his face the headache went away therefore rubbing a goat's balls on your face cures headaches. That's the level we're at right now. Dave wasn't rich, he did a thing, now he's rich, so that thing must be brilliant and we should all do it.

[Spectral]

Why is that a weird idea? We have seen this before. The state were forced to take over building housing before because the market refuses to.

The notion that rich people have a responsibility to build houses that are apparently not profitable is super weird. The notion that housing problems are caused by rich people failing to build houses is even weirder. It's so incoherent that I can't really even grasp how you think this works.

[Gheld]

The rich are perfect comedy fodder. The rich have caviar, the poor have sardines. And sardines taste waay better. Jokes on those fuckers.

[Deleted]

The notion that rich people have a responsibility to build houses that are apparently not profitable is super weird.

Big enough profit, not that it's not profitable. It's a low profit compared to other things they can invest the money in, therefore they spend it in other areas.

[Zogarth]

Big enough profit, not that it's not profitable. It's a low profit compared to other things they can invest the money in, therefore they spend it in other areas.

So... they are being smart people and it is their fault. I am confused here.

[mizeri]

Most ferraris are like 200-400k.. And you claim 1.2million.. I'm guessing either he put some stupid money into or you are a liar

https://en.wikipedia.org/wiki/Enzo_Ferrari_(automobile)

[Nurvus]

Watch this, OP:

[Independent voter]

In the US there is a tradition of rich people blending in to look like everyone else. It's part of the classless thing. There is classism, you're not likely to marry a rich man's daughter or travel in the same social circles, but it's not overt. For example, your waiter is treated like a coworker no matter how much money you have.

Yes there are exceptions.

[klogaroth]

The rich are perfect comedy fodder. The rich have caviar, the poor have sardines. And sardines taste waay better. Jokes on those fuckers.

Til some multi-Michelin starred chef decides that sardines are the new thing and artificially jacks up the price.....

[Spectral]

Big enough profit, not that it's not profitable. It's a low profit compared to other things they can invest the money in, therefore they spend it in other areas.

To be clear, who's stopping people from building their own houses?

[Deleted]

So... they are being smart people and it is their fault. I am confused here.

It's their fault that there's a housing problems because they don't push enough into that market, yes. The average worker class person in the country here can't afford building without getting themselves in debt for possibly the rest of their lives.

To be clear, who's stopping people from building their own houses?

Money? See my response to Zogarth.

[Spectral]

In the US there is a tradition of rich people blending in to look like everyone else. It's part of the classless thing. There is classism, you're not likely to marry a rich man's daughter or travel in the same social circles, but it's not overt. For example, your waiter is treated like a coworker no matter how much money you have.

Yes there are exceptions.

Yeah, the Zuckerbergs don't exactly go out of their way to try to look rich:

[Swizzington]

The vast majority of wealthy people put the vast majority of their wealth back into the economy in the form of stocks/businesses and real estate. The few rich people that hoard most of their money outside the flow of the economy such as just sitting in a bank account are those new to being rich, like if they just won the lottery or got an inheritance cash windfall.

Are you sure that's right? Because I've heard loads of stories about lottery winners who blow it all in months. I think people who aren't accustomed to having money are more likely to spend it because they have no idea how to use it/keep it. Just my opinion though.

[Spectral]

It's their fault that there's a housing problems because they don't push enough into that market, yes. The average worker class person in the country here can't afford building without getting themselves in debt for possibly the rest of their lives.

Money? See my response to Zogarth.

So you claim is, what, exactly? That rich people should just build some houses and sell them at cost? Or they're supposed to rent them out below cost?

I don't feel like you know anything about markets.

[Zogarth]

It's their fault that there's a housing problems because they don't push enough into that market, yes. The average worker class person in the country here can't afford building without getting themselves in debt for possibly the rest of their lives.



Money? See my response to Zogarth.

And I still can't see how this is their fault. The government could step in and provide reasons for them to invest in building new housing, or something like that. I can't see how it is the fault of the rich that they choose to put their money in places that they deem safer/more profitable.

[Gheld]

Til some multi-Michelin starred chef decides that sardines are the new thing and artificially jacks up the price.....

Shit..that's right isn't it?

[TITAN308]

Are you sure that's right? Because I've heard loads of stories about lottery winners who blow it all in months. I think people who aren't accustomed to having money are more likely to spend it because they have no idea how to use it/keep it. Just my opinion though.

Playing the lottery is just a legalized tax on the stupid and/or poor. Those guys are special cases.

[Ghostpanther]

Outrageous purchases...? They have shitloads of money that they don't use, there's no reason to hoard as much money as some people.

It is theirs. Only reason they need. And there are a lot of people who simply feel better with a certain amount of money in the bank. 500 dollars - 500 million. While I have my own comfort amount and also feel it would be waste for me to have millions of dollars sitting some place just to draw interest, I also realize my comfort zone is not what others want and it none of my business how much they want to horde.

[Deleted]

So you claim is, what, exactly? That rich people should just build some houses and sell them at cost?

No? They could invest in apartments that people can rent, but they won't, because there's not enough profit for them to do that when they have more profitable things to spend it in. They should invest in apartments that people can rent if they want to contribute rather than taking the path that profits themeselves the most. Sweden is made up by like 50-60% who are worker class, those people can't afford buying their own places and so forth without getting in debt for a long time.

[PC2]

Are you sure that's right? Because I've heard loads of stories about lottery winners who blow it all in months. I think people who aren't accustomed to having money are more likely to spend it because they have no idea how to use it/keep it. Just my opinion though.

Yes that sounds right, they are not use to being rich and they don't understand that your suppose to invest most of it in appreciating assets or assets that have a functional value that help create more income.