I think there is one more point to all of this - debt. A quick google (I dont know all the details) says that Americans are in record debt - https://abcnews.go.com/Business/americans-household-debt-hits-new-record-high-report/story?id=127221208. I frequently see all these fancy boats towed by fancy trucks, which adds to "feeling poor", but the average boat loan is 10-20 years which is INSANE! So yes i dont have a boat, but I also don't have a 20 year loan on a boat.
I might have to do a deep dive on this one. I know mortgage debt is relatively low when compared to home value, so a lot of the "record debt" might be more inflation than anything else. Although the average new car price in the US is now $50,000, which is just insane.
We could have a war over whether they're "consubstantial" with the poor, or "transubstantial" therewith. 30 million people might die.
In a not-so-interesting coincidence: I've made only $14k over the last 5 years. I don't just *feel* myself richer than most – I know I am. I have a friend, MBA U Chicago, brand new child: "I work 60+ hours a week." Me: okay, you're a slave. congrats. I drink cheap beer down by the river and sun my nuts when no ones looking.
Simple answer: Money is a drug just like any other: you cannot have enough. you need more and more to chase every vanishing highs.
Moreover, status is also sought through purchases, so called "conspicuous consumption" (Check out Thorstein Veblen sometime, fascinating stuff). I can't believe that in my 40s I'm still surrounded by "educated" people who NEED their cars, in particular, to project status. Lots of dues with huge trucks (yet with pristine beds). Can't believe the price tag either. No one is poor in American, and almost everyone is quite stupid. This is a terrible combination. Give a bunch of idiots money, they won't feel rich over time, nor will they be. Wealth isn't money. It is habits, norms, mores, families, communities, systems, whatever you want to call it, it isn't "have money now". It's inherently social, and therefore cannot be so easily alienated as money, (which is a counter and not "wealth" at all).
I think there is one more point to all of this - debt. A quick google (I dont know all the details) says that Americans are in record debt - https://abcnews.go.com/Business/americans-household-debt-hits-new-record-high-report/story?id=127221208. I frequently see all these fancy boats towed by fancy trucks, which adds to "feeling poor", but the average boat loan is 10-20 years which is INSANE! So yes i dont have a boat, but I also don't have a 20 year loan on a boat.
I might have to do a deep dive on this one. I know mortgage debt is relatively low when compared to home value, so a lot of the "record debt" might be more inflation than anything else. Although the average new car price in the US is now $50,000, which is just insane.
Very thought-provoking Patrick
We could have a war over whether they're "consubstantial" with the poor, or "transubstantial" therewith. 30 million people might die.
In a not-so-interesting coincidence: I've made only $14k over the last 5 years. I don't just *feel* myself richer than most – I know I am. I have a friend, MBA U Chicago, brand new child: "I work 60+ hours a week." Me: okay, you're a slave. congrats. I drink cheap beer down by the river and sun my nuts when no ones looking.
Simple answer: Money is a drug just like any other: you cannot have enough. you need more and more to chase every vanishing highs.
Moreover, status is also sought through purchases, so called "conspicuous consumption" (Check out Thorstein Veblen sometime, fascinating stuff). I can't believe that in my 40s I'm still surrounded by "educated" people who NEED their cars, in particular, to project status. Lots of dues with huge trucks (yet with pristine beds). Can't believe the price tag either. No one is poor in American, and almost everyone is quite stupid. This is a terrible combination. Give a bunch of idiots money, they won't feel rich over time, nor will they be. Wealth isn't money. It is habits, norms, mores, families, communities, systems, whatever you want to call it, it isn't "have money now". It's inherently social, and therefore cannot be so easily alienated as money, (which is a counter and not "wealth" at all).