I wonder, are more people getting rich than ever, or is just more visible than ever? How true is the "these days" part of your observation?
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Ask HN: It seems like everyone is getting rich?
21–30 of 112 posts
Re: Ask HN: It seems like everyone is getting rich?
#22Selection bias combined with social media bs. You don't hear about industries that died or barely survived covid. There's a whole segment of population that was employed by those industries.
Re: Ask HN: It seems like everyone is getting rich?
#23Don't worry, most of those people will be broke again in two years. Easy come, easy go.
Re: Ask HN: It seems like everyone is getting rich?
#24Remember that people show you the highlight reel of their lives while you live the bloopers.
Just try your best and try not to compare yourself to other people as best you can. I find it helpful to think about history and intellectually satisfying things like math -- things that sort of transcend time. It gives me some perspective.
Re: Ask HN: It seems like everyone is getting rich?
#25If it is any consolation, we will probably experience massive inflation in the next 20-30 years. Those with primarily financial (and not physical) assets will be hardest hit. At some point the economic wizardry will hit the fan. But on a less depressing note, I suggest paying less attention to the areas where people are “getting rich.” Money isn’t the measure of true value and you will rarely find a correlation betwe…
Worried about this. I hear that a loaf of bread will be 20 dollars and I see it happening. Is there anything I can do to prepare for this? Such as investing in more stocks, index funds,etc? I feel like my income isn't matching the rate of inflation.
Re: Ask HN: It seems like everyone is getting rich?
#26Focus on building a life that operates from love and abundance rather than fear and lack. Grow your skills so you can be of service to others. These two things will make you most likely to become rich. “Mastery of Love” and “Millionaire Fastlane” are two books I would recommend.
> Focus on building a life that operates from love and abundance rather than fear and lack.
No offense, but this kind of "positive thinking as financial advice" is extremely pathological. It not only fails to offer any concrete, actionable advice but implicitly blames the subject if they end up poor: "Ah he's poor, he must have been operating from fear, not love." It positions wealth as a signal of moral virtue, not just luck or even skill.
Re: Ask HN: It seems like everyone is getting rich?
#27I am no economist, but from what I understood, what’s happening is that central banks have been pumping cash into the economies since the 2009 crisis. They were starting to end this when covid happened, so they reverted course and kept pumping.
What happens when the money supply is high is that banks can then grant cheap loans to people or institutions who are solvable. So they give loans to already rich entities who then invest into all kinds of stuff.
The idea behind pumping cash into the economy is that the cash eventually flows into financing actual real world activity. And it actually works, the crises happened but the economy recovered fast.
But a side effect is that a lot of that cash also goes into raw speculation. crypto, real estate, collectibles. And because so many people are doing it, it creates a bubble which means more people and more cash go into these up-spiraling dreams.
But yes at some point money will get tighter, cheap loans will have to be repaid, and the bubbles will deflate.
Hopefully inflation and taxes on capital would erode all those wins and life will go back to “normal”. But yes that’s optimistic and we’re talking at least 20 years.
Re: Ask HN: It seems like everyone is getting rich?
#28Earlier quoted context omitted.
^ I'm quite open about my poverty. People literally do not want to hear it.
as someone who is always happy to see your comments: you are interested to me, not because you are poor but because of what you achieve while being poor. (And if I could choose I'd rather w7sh you were not poor.)
Yeah, I'm a nega-millionaire. The millions my little family should have spent on medical care and didn't is, on the one hand, better than the path I should have been doomed to.
On the other hand, I still can't pay my bills and the absence of millions of dollars worth of medical care and an early death falls under "absence of evidence" or some garbage. It does nothing to give me credibility.
It's a nice little headfuck that has one silver lining: I am not impressed by anyone's net worth. Period. End of sentence.
Re: Ask HN: It seems like everyone is getting rich?
#29If it is any consolation, we will probably experience massive inflation in the next 20-30 years. Those with primarily financial (and not physical) assets will be hardest hit. At some point the economic wizardry will hit the fan. But on a less depressing note, I suggest paying less attention to the areas where people are “getting rich.” Money isn’t the measure of true value and you will rarely find a correlation betwe…
Worried about this. I hear that a loaf of bread will be 20 dollars and I see it happening. Is there anything I can do to prepare for this? Such as investing in more stocks, index funds,etc? I feel like my income isn't matching the rate of inflation.
Personally I am trying to be more self-sufficient. Growing food, cooking common items from scratch (like bread), learning how to repair things, etc. And so I put money into items that are both durable and help further this goal of self-sufficiency.
A safety razor and a 1,000 pack of blades is a recent purchase. Properly maintained, it will last forever, which will come in handy when Schick razors are $25 each.
I’m not sure how that scales up to $50k or $100k but it’s a starting point.
This subreddit is a good place to get ideas: https://www.reddit.com/r/BuyItForLife/
Re: Ask HN: It seems like everyone is getting rich?
#30Many times the reason we are jealous is not because of other people luck but rather because we don't live up to our full potential. Try to focus on things you can control and to improve yourself, put on some muscle, dress nicely, do some cheap activities you enjoy, whether it is some specific hobby or if you don't have one do stuff anyways just for the sake of increasing your social interactions.
Those things will improve your situation regarding all the things you don't have to buy, like attracting the opposite sex or having fun experiences. By doing all those things you will also increase your "luck surface", you will hear about opportunities earlier, you will be more energetic and pro active and eventually something will fall into your lap. Even if not, you will enjoy your life and will not care so much about other people success on the financial front.