I’m trying to make my blog more interactive and force you to type a comment… Not that I write for comments, but that little chart that tells me I have 20-30 views per day means I either have a stalker (see government, lol) or people come by, read my post, say “geez, why do I come here?” then leave. I’m not really trying to figure that out… today, but I do have a post that requires participation.
My previous 2 posts requiring participation – my coffee ranking post and the one before this one on my TV pet peeve, actually generated quite a lot of discussion – more email than posting however.
My discussion this time is about the recession and where the wealth lies.
Every get that feeling – around pay day – that you are not making as much money as you think you deserve? If you had more money you would help others, pay down debt, buy a new house, get nicer clothes, maybe even go out more or on more vacations…
So what do people with all that money do???
Let’s look at two types of wealth; The generation who have money as a result of their parents wealth, and the wealth shoved down the throat of the North American population – glorified on TV on shows like Cribs and flaunted in the news all the time – that of the celebrity, or sports figure who grew up poor but upon hitting it big are given gobs of money with no idea what to do with it.
Unfortunately, those with the second generation wealth have been taught by their parents and financial advisers how to invest money, how not to flaunt, and by virtue of where they live and people they grew up with, they are both fiscally responsible and have money put away for times of recession, like now. These people check their dollars in recession, and look at ways to make money by buying items like houses and stocks while the market is low. They have lost money in the recession but also take advantage of the suffering economy to expand their wealth when the economy picks up.
Now, the athletes and celebs… They are given tons of money and they hire financial advisors to look after their money. They too feel the pinch when the economy goes south but when you look at them on TV, or read about them in the news relating to their finances, it is usually of 2 extremes; the one extreme is the 19 year old athlete who even though there is a refcession is going out and buying houses and cars and having parties because, well, they have money and they think it’s going to last forever. Or, you have the celeb, who is forced to sell a house or something of value because they ran into financial trouble – like failing to pay income tax or living too high off the land and are shocked when the flow of money dries up that they are affected.
This brings me to my belief for this recession… I feel that recessions are necessary – to bring the economy back into check after years of greed. Million dollar bonuses to CEO’s of companies losing billion of dollars, Scumbags like Bernie Madoff who create scams to bilke people of of billions of dollars so that he and his family can live like royalty. Athletes like Manny Ramierez who refused to sign a 2 year contract with the LA Dodgers because $47 million dollars was not enough… He “settled” for $45 million. Geez.
While you and I plan, budget and watch everything we spend, others are being given and take huge amounts of money and are being glorified for it. When was the last time you saw a TV show called, “fiscally responsible”? No one from MTV wants to come see my house? Yours?
There are TV shows for people who are in huge debt and we watch them and shake our heads in disbelief… idiots. We watch the TV shows about the 13 year old girls getting $50,000 sweet 16 parties and we wish that was us. It will never be us, but there are some people, probably many people who strive to have that kind of wealth and do whatever it takes to accumulate it. That means selling drugs, lying, cheating and stealing. Seriously. And once people with money get more and more to those who are not deserving of that wealth, or are not fiscally responsible with it, then you see more and more bankruptcies, or stories about the rich and famous suffering financial hardship. And quite frankly, it’s recessionary times like these that we look at them and scoff and laugh at their misfortune. I know if I had $25 million dollars I would have done a better job managing it. Less flaunt, more sustaining.
After all, once this recession ends, I still want to have what we had before… Don’t you?