calicamper
Expedition Leader
Your point is taken, and perhaps I should clarify. There is a distinction between “I have worked really hard and now I desire to slow down”, or “I work really hard and like to spend my limited leisure time in the outdoors” and the one I perceive more often “I DESERVE every nice thing everyone else has…”
In fairness, I should probably go edit or delete that particular post, but once quoted, it lives on!
Nater in the age of “false fronts” policy changes can trigger a big crash of the facades. Way way way too many people make assumptions they believe to be true. Especially today with the Youtubers and social media muts.
The 18yr olds with “Top Youtube” channels with 200k in toys to create youtube content don’t own that stuff. Most are kids with parents who might have wealth and/or a big line of credit. Like my 9yr old could have a youtube channel about sailing and format it to give his viewers the impression he owns my boat ??.
Just as the social media mutts rent Air bnb’s for a day to give viewers the impression they are wealthy etc.
He’ll even people I know who qualify as wealthy in our country live week to week selling stock to cover their living expenses because they aren’t living on their actual job income. So you drop the market, or change interest rates, or some other policy change impacts the free money or credit trend and that fake image comes crashing down.
Its the same cycle we see in past economic bumps- same BS just a different name or process ?.
The savy who can be truly wealthy or even very average know when to play and when to hold em?.
Do you get in bidding wars over a property? Or do you get smarter and wait, change your approach etc? Do you pay a car dealer huge markups? Or do you skip it and find an alternative? That’s typically the difference between those who are truly wealthy and those who are just spending credit?.
When will our economy shift? Hard to say but I bet China is the biggest player in our next major historical economic crash.