Is it possible that World Wealth is up?

[Frank McKay]

It could simply be that world wealth is as high as it’s ever been and buyers aren’t concerned about paying heavy premiums for pieces they want now, no wait. I mean think about it, there are wealthy people out there that don’t have time to go to an AD and build a relationship. They simply go online and click a button and wait for the FedEx delivery.

Seeing the outrageous premiums is evidence that there are people out there buying at these prices. Rolex marketing + Increased world wide wealth + Rolex running rampant on social media = today’s current conditions.

[Terrakot]

"Increased world wide wealth" is simply inflation.

[colpol]

When I was growing up debt was a dirty word. Now it seems that it’s the norm for a lot of people

My first car loan - was an application form which had to get my dad to sign as a guarantor. Had to wait about 2/ 3 weeks for reply. Now you go online & approved in minutes. 0% credit cards, pcp for cars, mortgages up to 40 years, loans in minutes etc - it’s easy to give the illusion of wealth

[Monte Cristo]

Originally Posted by colpol

When I was growing up debt was a dirty word. Now it seems that it’s the norm for a lot of people

My first car loan - was an application form which had to get my dad to sign as a guarantor. Had to wait about 2/ 3 weeks for reply. Now you go online & approved in minutes. 0% credit cards, pcp for cars, mortgages up to 40 years, loans in minutes etc - it’s easy to give the illusion of wealth

This

[Ian Macdermott]

Originally Posted by colpol

When I was growing up debt was a dirty word. Now it seems that it’s the norm for a lot of people

My first car loan - was an application form which had to get my dad to sign as a guarantor. Had to wait about 2/ 3 weeks for reply. Now you go online & approved in minutes. 0% credit cards, pcp for cars, mortgages up to 40 years, loans in minutes etc - it’s easy to give the illusion of wealth

My first proper mode of transport was a Honda 90 used, it cost £45 it took a friend to guarantee the payments and took about a month before they decided to give me the loan.


The hyper rich get richer and the poor get poorer and as usual pay for the rich getting richer. The next bubble to burst will be the PCP bubble when 100s of 1000s of cars are not worth the predicted future value.

[Rocket launcher]

Originally Posted by Ian Macdermott

My first proper mode of transport was a Honda 90 used, it cost £45 .

A mint C90 would now be worth £5000+

[Harry-57]

The richest proportion of the population is decreasing and getting richer. 95/5 is heading for 99/1.

Why do people pay grey premiums? Some want the quickest path to something they desire. I paid over MSRP for a new Hulk from a grey dealer. Some are just swept up by the hype, driven by image, social media, being like their peers, etc. Some are speculating.

If some (or even a majority) are buying them on credit, this is driving the 99/1 equation. Some people genuinely believe that debt, and the potential to get into it, is wealth.

[AK797]

I do know the rich are getting richer, as ever, and because of SM they have a new global platform for displaying their wealth which then trickles down to the middle and working class aspirers, and so perpetuates this wheel of fortune that even Daenerys was so keen to break.

[Ian Macdermott]

Originally Posted by Rocket launcher

A mint C90 would now be worth £5000+

I know same as the RD350LC I had later and all the other old bikes I had.

Sent from my HUAWEI VNS-L31 using Tapatalk

[enjoythemusic]

Originally Posted by Terrakot

"Increased world wide wealth" is simply inflation.

Believe you mean currency devaluation. They like to use the world "inflation" as humans have become numb to that terminology. Central banks and basically flooding the market, thus those at the top-tier who receive currency first receive the most benefit (member banks such as JP Morgan, Goldman Sachs, etc).

And yes, the top-tier is receiving more currency, meanwhile the middle class is being squeezed lower due to lower currency valuation, and the lowermost tier is SOL. Thus the lowermost needs more subsidies to survive (notice how politicians are offering 'free' things more often).

Of course the smart currency people (bankers, etc) know holding onto currency (Federal Reserve Debt Notes Dollar, Euro, etc) are being highly devalued, so said currencies 'runs' towards things of intrinsic value (watches, artwork, rare cars, etc).

The past few years this devaluation has accelerated at a more rapid pace. Back in the day it was targeted @ ~2% devaluation annually, now it is around 4%+ annually. This is simply a cause-effect / problem with Modern Monetary Theory. Expect more of this, much more as the debt owed by major States toward obligations, etc are far exceeding their ability to pay for said obligations. So the banking centers, to keep pressure off of them, need to devalue the currency / their way out of this.

This is also why governments like to change how the data is acquired / assessed, so devaluation looks better than it really is if they used previous metrics. If a government / central bank doesn't like the numbers, change the way metrics are tallied.

Here's a site that employs more stable metrics.

http://www.shadowstats.com/alternate...flation-charts

Good luck everyone, as unless you're at / near the top-tier the cards are stacked against you.

[amh]

Originally Posted by Ian Macdermott

My first proper mode of transport was a Honda 90 used, it cost £45 it took a friend to guarantee the payments and took about a month before they decided to give me the loan.


The hyper rich get richer and the poor get poorer and as usual pay for the rich getting richer. The next bubble to burst will be the PCP bubble when 100s of 1000s of cars are not worth the predicted future value.

Disagree on the reason for poverty. No one forces "the poor" to buy a $1k iphone.

In 3rd world countries it's culture and government. In the USA it's laziness, there's plenty of work & opportunity here.

[RTG]

Originally Posted by Frank McKay

It could simply be that world wealth is as high as it’s ever been and buyers aren’t concerned about paying heavy premiums for pieces they want now, no wait. I mean think about it, there are wealthy people out there that don’t have time to go to an AD and build a relationship. They simply go online and click a button and wait for the FedEx delivery.

Seeing the outrageous premiums is evidence that there are people out there buying at these prices. Rolex marketing + Increased world wide wealth + Rolex running rampant on social media = today’s current conditions.

A rising tide lifts all boats and sells more Rolex watches. The American economy and U.S. consumer sentiment has certainly increased sales within the USA.

[TswaneNguni]

Originally Posted by colpol

When I was growing up debt was a dirty word. Now it seems that it’s the norm for a lot of people

I avoid debt like the plague

[iheartrolexx]

that's called inflation

[SeaAndSky]

Originally Posted by colpol

When I was growing up debt was a dirty word. Now it seems that it’s the norm for a lot of people

My first car loan - was an application form which had to get my dad to sign as a guarantor. Had to wait about 2/ 3 weeks for reply. Now you go online & approved in minutes. 0% credit cards, pcp for cars, mortgages up to 40 years, loans in minutes etc - it’s easy to give the illusion of wealth

Indeed. And when the bills come due for all this debt on a personal and state level, for those of us here in the States, it's going to be interesting and a big change for many.

[RTG]

Originally Posted by Ian Macdermott

The hyper rich get richer and the poor get poorer and as usual pay for the rich getting richer.

Most people end up with exactly what they deserve, and exactly what they have earned. The only people who the poor make rich are corrupt politicians and drug dealers. In reality the true victim is the middle class and rich that fund Governments. The poor fund nothing without handouts.

Originally Posted by amh

Disagree on the reason for poverty. No one forces "the poor" to buy a $1k iphone.

And nobody forces them to do drugs.

Originally Posted by amh

In 3rd world countries it's culture and government. In the USA it's laziness, there's plenty of work & opportunity here.

Ample opportunity if you are open to working and making good decisions.

[beshannon]

Originally Posted by Terrakot

"Increased world wide wealth" is simply inflation.

Very true and very sad that the faux "investment" crowd cannot comprehend this

[Tha Baron]

Originally Posted by colpol

When I was growing up debt was a dirty word. Now it seems that it’s the norm for a lot of people

My first car loan - was an application form which had to get my dad to sign as a guarantor. Had to wait about 2/ 3 weeks for reply. Now you go online & approved in minutes. 0% credit cards, pcp for cars, mortgages up to 40 years, loans in minutes etc - it’s easy to give the illusion of wealth

Most people are payment slaves... people value high incomes over high assets. It’s sad, I’m betting the world economy blows up in my life time. Just look at a chart, any will do... consumer debt, government debt, unfunded liabilities, etc

[RTG]

Originally Posted by Tha Baron

Most people are payment slaves... people value high incomes over high assets. It’s sad, I’m betting the world economy blows up in my life time. Just look at a chart, any will do... consumer debt, government debt, unfunded liabilities, etc

I know you'll be prepared

[MartinHH]

Originally Posted by colpol

When I was growing up debt was a dirty word. Now it seems that it’s the norm for a lot of people

My first car loan - was an application form which had to get my dad to sign as a guarantor. Had to wait about 2/ 3 weeks for reply. Now you go online & approved in minutes. 0% credit cards, pcp for cars, mortgages up to 40 years, loans in minutes etc - it’s easy to give the illusion of wealth

This.
People don't save up for bigger purchases anymore. They just go into debt.

[Tha Baron]

Originally Posted by RTG

I know you'll be prepared

Water filters, precious metals (Au, Ag, Pb, Cu), tools, bolt cutters and some fishing poles :). Haven’t bought the blacked out hummer yet, but I gotta wait on my accord lease to end!

[Fleetlord]

There are more ways to make alotta money than ever before...stuff you wouldn’t have dreamed of 20yrs ago.

Even narcissism can monetized heavily through social media..

Professional Video game players love Rolex and they are paid much better than the school bus driver...etc

[FLSTFI Dave]

Originally Posted by colpol

When I was growing up debt was a dirty word. Now it seems that it’s the norm for a lot of people

My first car loan - was an application form which had to get my dad to sign as a guarantor. Had to wait about 2/ 3 weeks for reply. Now you go online & approved in minutes. 0% credit cards, pcp for cars, mortgages up to 40 years, loans in minutes etc - it’s easy to give the illusion of wealth

Yep. My first new car at 18, my dad had to cosign. I wanted a 48 month note. He refused to sign, said that 36 month was max, anything longer was stupid on a depreciating asset. Dad was a commercial loan officer.

Originally Posted by amh

Disagree on the reason for poverty. No one forces "the poor" to buy a $1k iphone.

In 3rd world countries it's culture and government. In the USA it's laziness, there's plenty of work & opportunity here.

Well said. I see teenagers and young 20 somethings with phones that cost more than mine, they also have cars as nice as mine, but theirs have 84 month notes, mine has a 36 month note with 50% down.

Many times the reason they are poor is bad financial choices. Buying things they really can not afford.

Originally Posted by Tha Baron

Most people are payment slaves... people value high incomes over high assets. It’s sad, I’m betting the world economy blows up in my life time. Just look at a chart, any will do... consumer debt, government debt, unfunded liabilities, etc

Same reason the housing market failure. 100% financing for the home, the could not afford. Then 100% financing for the car. If they have one major problem, like the house A/C fails, their world comes crashing in. They can't afford to buy the A/C or they miss a payment.

[acfcheung]

inflation?

Sent from my LYA-L29 using Tapatalk

[hoot504]

Originally Posted by TswaneNguni

I avoid debt like the plague

As you should

[InitialAndPitch]

Top 1% is firing.

[jsausley]

Yes, worldwide wealth has increased significantly recently.

https://www.cnbc.com/2018/03/21/us-a...s-in-2017.html

[DocHorton]

Originally Posted by RTG

Most people end up with exactly what they deserve, and exactly what they have earned. The only people who the poor make rich are corrupt politicians and drug dealers. In reality the true victim is the middle class and rich that fund Governments. The poor fund nothing without handouts.



And nobody forces them to do drugs.



Ample opportunity if you are open to working and making good decisions.

Nailed it.

[HK852GMT]

I deeply distrust and dislike the ‘rich are getting richer, poor are getting poorer’ soundbite. We are all getting richer - generally. I left school at 17, worked my nuts off, and now work for a similar firm to my father. The standard of living i enjoy at a similar position to him far exceeds what was possible before. This has not been a gizzit. I worked a variety of other job in advance to gain the experience (lacking the money for qualifications) necessary.

As a certain ‘Marmite character’ from the US has roughly described it, “If you graduate high school, don’t have kids before marriage, and have a job; you will end up wealthier than your parents.” I have broadly stuck to that (by luck on the second point), and i am working for every dollar i earn. I don’t begrudge people with more money than me.

As for debt. Various countries are walking a really fine line. I made my mistakes when i was a teen/early twenties. Some people will leverage themselves to the hilt knowing nothing but cheap credit. That’s great, but when the music stops, it isn’t going to be Mr Visa standing up looking for a chair.

Or we could all become yootoob celebrities and earn squijjilions

[jsausley]

As a certain ‘Marmite character’ from the US has roughly described it,

This is the best way I've ever heard someone refer to him.