
News Link • Economy - Economics USA
Money Isn't Everything; Freedom Is.
• https://www.lewrockwell.com, By Matt BallThis pattern is playing out between rich and poor people and where both of them see value (yep, you guessed it, the former are a bit better than the latter at assigning value). I won't define rich or poor, I'll let you set that standard yourself since I still believe your notion of that will apply. I have noticed this after travelling to 4 continents in the last few years, meeting and talking with all walks of life from all different backgrounds.
What are the Rich Doing?
Rich people are examining the world before them in a set of tradeoffs and probabilities to weigh out what is valuable to them in the long run. Notwithstanding the tax increases happening in the West, the rich will settle for less money & "nice things" in effort to sustain what everybody would regard as a 'normal life' 5 years ago. This means that they will seek to preserve a living standard involving reliable electricity & internet, heating, good food (not slammed with preservatives, hormones or pesticides), hygiene in the streets, safety (especially for their children) & familiarity in their cultures. However, this may mean that their income level drops by a considerable 40, 50, 60% from what they have grown accustomed to receiving. It may mean not working at all for some years given language differences & lack of resources in the new area and simply working off of accumulated savings. If your portfolio and business is going through the roof with success, but your world is a state of collapse–what the hell is the point?
Close to Wall Street
Furthermore, the rich & wealthy are actively seeking to create their own parallel systems of value to utilize those around them the best (to have a sources for medicine, for meat, for entertainment, for transport, for payment, etc.). They will deploy capital they have now (while they view it to still have purchasing power) in effort to create their own sustainable life and network. It's already well known that "the rich" are buying up farmland hand over fist. Again, even if this means a considerably decline in their paycheque, bonuses or social status. After all, what's the point of an 'extra' 5 million dollars if you're forbidden from living as a free human. You can't put a price on freedom.
What are the Poor doing?
Poor people are adopting a tunnel-vision approach by assigning the ultimate value to "money". They strive to make more money at all costs but sacrifice their quality of life & freedoms to do so. They will willingly take the jump head first into a dystopian, apocalyptic world failing to see the 'point' of money in the first place. This is to say nothing about inflation.
Additionally, I believe poor people will continue to forego their relationships with their sexual partner, their family & their friends for the sake of more money. They will stop doing the things they enjoy and work around the growing inconveniences of life, unpredictable violence and soul-crushing nature of bureaucracy. All of this will be towards the chasing the dream of holding a larger bank account, the largest penthouse on the block, the most recognition amongst the business/tech/finance community. Of course, only a few will be successful at this journey given the mountain of resistance from regulation and taxes alone, but this journey would have removed any joy or meaning from their lives in the meantime.