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Relative Wealth and the Struggle for Economic Dominance

Bill Bonner at his best…

Here’s a subject you’re going to hear more about: wealth inequality. The rich have gotten richer. The poor have gotten poorer. People don’t know why. But they don’t like it. And they figure it has something to do with the rich rigging the system. They’re right…but not in the way they think.

But who cares if some people are richer than other people?

People obviously have a need for wealth. That is, they must eat. They need shelter, clothing… They don’t really need much more than that.

But there’s more to it, isn’t there? People have a desire for wealth. For status. For power. These things are more important than wealth itself.

Why? After a bare minimum, wealth doesn’t really affect a person’s survival. You don’t need more than the basics for that. Arguably, anything you eat more than what you actually need has a negative effect on your life.

And clothes? You can go to Wal-Mart and get all the clothes you need for $100.

Maybe less.

Shelter? Well, that’s a bit more expensive. But there’s a guy we see everyday who lives out on the street. He stands in the entrance to the abandoned Greyhound bus station in Baltimore, next to a mattress and a sleeping bag. He is always standing when we come by. And he is always facing south. He never turns his head, neither right nor left, neither up nor down…but he just looks straight ahead to the south.

Arguably, you don’t need more shelter than that. He seems to stay there…at no cost whatsoever. Not that we’d recommend it. But you could get a perfectly comfortable trailer for practically nothing.

What’s our point? That you don’t really NEED much money.

So why bother with it? And why do people care if you have a lot more than they do?


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