Author Topic: The pinnacle of antimustachianism?  (Read 10201 times)

Rangifer

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The pinnacle of antimustachianism?
« on: December 28, 2012, 12:56:16 AM »

strider3700

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Re: The pinnacle of antimustachianism?
« Reply #1 on: December 28, 2012, 01:03:26 AM »
at $10/coke I'm assuming that's not US dollars

happy

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Re: The pinnacle of antimustachianism?
« Reply #2 on: December 28, 2012, 03:24:31 AM »
Non! St Tropez!
But that would make it Euros, which would make it worse. (1 euro = approx $1.30 US)
Yikes, Nikki beach is one pricey resort

gdborton

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Re: The pinnacle of antimustachianism?
« Reply #3 on: December 28, 2012, 08:43:42 AM »
I'm curious what the $4 "THE" is.

jnik

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Re: The pinnacle of antimustachianism?
« Reply #4 on: December 28, 2012, 08:55:45 AM »
I'm curious what the $4 "THE" is.
Tea. French.

amyable

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Re: The pinnacle of antimustachianism?
« Reply #5 on: December 28, 2012, 09:04:48 AM »
Holy crap.  The tumblr the image is linked to is simultaneously disgusting and fascinating.  I can't even believe some of those pictures are real.  Wow.

Mannerheim

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Re: The pinnacle of antimustachianism?
« Reply #6 on: December 28, 2012, 09:47:33 AM »
Holy crap.  The tumblr the image is linked to is simultaneously disgusting and fascinating.  I can't even believe some of those pictures are real.  Wow.

There's something almost elemental about it, these people are past the level of "I want it and I don't care what it costs", they're spending money on bizarre and perverse stuff just for the sake of spending it: a 50th pair of thousand dollar shoes, a pet lion cub, private jet travel with a single passenger, joyriding over sand dunes in a quarter million dollar Rolls-Royce, or drinking 5 figures of exotic booze in a single night.

I'd bet that very few of them meet all these criteria:

- Not on psychiatric medication or in therapy
- No substance abuse problems
- Happily married parents
- Get along well with their parents
- Serious long-term plans for their life (family, philanthropy, art, business, whatever)

It reminds me of Born Rich, the documentary about children from ultra-rich families made by the heir to the Johnson & Johnson fortune. He interviews a bunch of other kids from billionaire families and most of them come across as dysfunctional and weird, with problems ranging from depression to drug addiction to nihilistic hedonism (interestingly, some had such sheltered upbringings that they didn't realize they were richer than 99.999% of people until well into adolescence). Oddly enough the only one who actually comes across as well-adjusted is Ivanka Trump.

kkbmustang

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Re: The pinnacle of antimustachianism?
« Reply #7 on: December 29, 2012, 04:29:54 PM »
Totally fascinated by this. It looks like one kid gets a $100k trust fund distribution every Monday. Unbelievable. Even if I had accumulated enough wealth to be able to give that to my kids, I wouldn't. Lots of lessons to be learned by working and earning something for yourself.

strider3700

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Re: The pinnacle of antimustachianism?
« Reply #8 on: December 29, 2012, 05:57:28 PM »
That's "only" 50 million in the bank assuming he's getting 10% returns.   That really makes the billionaires out there even harder to imagine.  my "short term" goal is $1000/week in returns and that would be amazing.  It's just hard to picture what getting 100k/week would be like.   I could buy a house a month....

Kriegsspiel

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Re: The pinnacle of antimustachianism?
« Reply #9 on: December 29, 2012, 06:39:25 PM »
They're making my stocks go up.  Winning!

James

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Re: The pinnacle of antimustachianism?
« Reply #10 on: December 29, 2012, 07:11:37 PM »
I wouldn't say it's the pinnacle unless they are spending borrowed money.  :)

SweetTPi

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Re: The pinnacle of antimustachianism?
« Reply #11 on: December 29, 2012, 10:20:50 PM »
It reminds me of Born Rich, the documentary about children from ultra-rich families made by the heir to the Johnson & Johnson fortune. He interviews a bunch of other kids from billionaire families and most of them come across as dysfunctional and weird, with problems ranging from depression to drug addiction to nihilistic hedonism (interestingly, some had such sheltered upbringings that they didn't realize they were richer than 99.999% of people until well into adolescence). Oddly enough the only one who actually comes across as well-adjusted is Ivanka Trump.

Actually, I went to school with one of Ivanka's brothers, and I'm not surprised that you got that impression.  I did not know him personally, but he seemed rather normal (adjusted) and had his own interests and talents that he worked on developing.  Whenever I hear about his father being in the news, I do wonder how he is.

Rangifer

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Re: The pinnacle of antimustachianism?
« Reply #12 on: December 29, 2012, 10:33:24 PM »
That's "only" 50 million in the bank assuming he's getting 10% returns.   That really makes the billionaires out there even harder to imagine.  my "short term" goal is $1000/week in returns and that would be amazing.  It's just hard to picture what getting 100k/week would be like.   I could buy a house a month....

Exactly. Imagine you are one of the super rich. Your investments are generating millions per month. Would you care if one of the kids spent 50 grand on a weekend vacation? You still can't spend it faster than it accumulates.

Now, here is the real rich man's paradox, and the same reason billionaires keep on trying to make more money. Once you reach the level where you can buy anything, the only challenge in life is trying to make even more money. It's the only thing money can't buy.

Erica/NWEdible

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Re: The pinnacle of antimustachianism?
« Reply #13 on: December 30, 2012, 12:44:09 AM »
You still can't spend it faster than it accumulates.

Now, here is the real rich man's paradox, and the same reason billionaires keep on trying to make more money. Once you reach the level where you can buy anything, the only challenge in life is trying to make even more money. It's the only thing money can't buy.

My husband and I often play the "if we were disgustingly rich" game. He's really good at it, being able to do excellent levels of math in his head.

I just asked him what he would do if he got $100,000 a week. His answer, after very little thought: "I'd give a scholarship a week. Every week I'd pick one good case - kickstarter campaigns, high school students, post-docs, musicians, science research - and write a check for $50,000, which is enough to help someone live comfortably for a year and go to school, or enough to help a small business person start something new. With the $50K left over, I'd invest in order to keep the scholarship going against inflation and save $10,000 per week for a big lump sum 'annual big ticket' funding of $500,000 at the end of every year. I'd open a brew pub in our home town. And we'd live extremely comfortably and travel."

There's a lot that much money can buy if you start looking outside yourself I think.

kkbmustang

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Re: The pinnacle of antimustachianism?
« Reply #14 on: December 30, 2012, 11:30:27 AM »
You still can't spend it faster than it accumulates.

Now, here is the real rich man's paradox, and the same reason billionaires keep on trying to make more money. Once you reach the level where you can buy anything, the only challenge in life is trying to make even more money. It's the only thing money can't buy.

My husband and I often play the "if we were disgustingly rich" game. He's really good at it, being able to do excellent levels of math in his head.

I just asked him what he would do if he got $100,000 a week. His answer, after very little thought: "I'd give a scholarship a week. Every week I'd pick one good case - kickstarter campaigns, high school students, post-docs, musicians, science research - and write a check for $50,000, which is enough to help someone live comfortably for a year and go to school, or enough to help a small business person start something new. With the $50K left over, I'd invest in order to keep the scholarship going against inflation and save $10,000 per week for a big lump sum 'annual big ticket' funding of $500,000 at the end of every year. I'd open a brew pub in our home town. And we'd live extremely comfortably and travel."

There's a lot that much money can buy if you start looking outside yourself I think.

I'm sure people in third world countries think we're disgustingly rich too and most of us don't even realize it.  I mean $5000 can buy a school in Africa.  A thousand dollars could pay a doctor's salary for a year.  It's all in how you look at it.  I'm not defending those rich kids but I don't see how hating on people more fortunate than you is productive.  We can all spend our money in more productive ways.

Excellent point.

Blindsquirrel

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Re: The pinnacle of antimustachianism?
« Reply #15 on: January 01, 2013, 04:31:32 PM »
  Yup, that is about the pinnacle. Wonder how much the tip was? Good day for a waiter/waitress though if the guy was not a total bastard!

kkbmustang

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Re: The pinnacle of antimustachianism?
« Reply #16 on: January 01, 2013, 04:37:17 PM »
  Yup, that is about the pinnacle. Wonder how much the tip was? Good day for a waiter/waitress though if the guy was not a total bastard!

Due to my complete fascination with this site, I read through the whole thing. It appears these kids are generous tippers as well. Although, most of the receipts included required gratuity (probably for having more than 6 in the party). One guy left a $200 tip on a $10 cab ride.

Good nights for the waitstaff.


kit

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Re: The pinnacle of antimustachianism?
« Reply #17 on: January 01, 2013, 09:35:23 PM »
I'm actually all for other people engaging in this sort of frivolity. It redistributes wealth that would otherwise be prudishly locked away and pumps my investments. LVMH, anyone?

chucklesmcgee

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Re: The pinnacle of antimustachianism?
« Reply #18 on: January 06, 2013, 07:04:49 PM »
I wouldn't say it's the pinnacle unless they are spending borrowed money.  :)

This is very true. Spending "a lot" of money isn't necessarily anti-mustachian. If you're financially independent and can blow $100k a week without even getting close to dipping into your principle, well, what's wrong with that? It's only if you're spiraling into debt or having to work forever to sustain your spending habit that it's anti-mustachian.

gmaxwell

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Re: The pinnacle of antimustachianism?
« Reply #19 on: January 06, 2013, 09:40:44 PM »
This is very true. Spending "a lot" of money isn't necessarily anti-mustachian. If you're financially independent and can blow $100k a week without even getting close to dipping into your principle, well, what's wrong with that? It's only if you're spiraling into debt or having to work forever to sustain your spending habit that it's anti-mustachian.
I think that the definition of mustachian goes beyond pure financial independence and includes an element of efficient spending which seeks to do the most good with your fundsó not just as a component to achieve financial independence but as an end in and of itself.

That said, there are worse things you could blow enormous sums of money onó at least costly booze and food is unlikely to be particularly environmentally damaging. You can think of it as a way of sponsoring varrious craftspeople and the distribution industry without having to admit to your generosity.  :)

The pinnacle of antimustaschianism would be something more like: Taking out a loan to rent a private jet to fly to all the walmarts in the country and buy random plastic goods which you then fly out and dump into the ocean. Every week. For entertainment.
« Last Edit: January 06, 2013, 09:42:40 PM by gmaxwell »

kt

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Re: The pinnacle of antimustachianism?
« Reply #20 on: January 07, 2013, 02:35:55 AM »
This is very true. Spending "a lot" of money isn't necessarily anti-mustachian. If you're financially independent and can blow $100k a week without even getting close to dipping into your principle, well, what's wrong with that? It's only if you're spiraling into debt or having to work forever to sustain your spending habit that it's anti-mustachian.
I think that the definition of mustachian goes beyond pure financial independence and includes an element of efficient spending which seeks to do the most good with your fundsó not just as a component to achieve financial independence but as an end in and of itself.

That said, there are worse things you could blow enormous sums of money onó at least costly booze and food is unlikely to be particularly environmentally damaging. You can think of it as a way of sponsoring varrious craftspeople and the distribution industry without having to admit to your generosity.  :)

The pinnacle of antimustaschianism would be something more like: Taking out a loan to rent a private jet to fly to all the walmarts in the country and buy random plastic goods which you then fly out and dump into the ocean. Every week. For entertainment.

that'd made me laugh. can anyone beat that for a suggestion of real anti-mustachianism?!

destron

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Re: The pinnacle of antimustachianism?
« Reply #21 on: January 07, 2013, 08:34:09 AM »
  Yup, that is about the pinnacle. Wonder how much the tip was? Good day for a waiter/waitress though if the guy was not a total bastard!

Due to my complete fascination with this site, I read through the whole thing. It appears these kids are generous tippers as well. Although, most of the receipts included required gratuity (probably for having more than 6 in the party). One guy left a $200 tip on a $10 cab ride.

Good nights for the waitstaff.

I was reading a discussion of waitstaff who work at high end restaurants, and the general consensus is that, with the rich and famous, it goes both ways (extremely generous and stingy), but that generous tips more than make up for the poor ones.

sol

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Re: The pinnacle of antimustachianism?
« Reply #22 on: January 07, 2013, 01:25:04 PM »
You can think of it as a way of sponsoring varrious craftspeople and the distribution industry without having to admit to your generosity.  :)

In the past year or so, I have adopted this philosophy for basically ALL of my consumer spending.  Any time I pay retail for anything that I know I could make or borrow or get second-hand instead, which is basically every time, I tell myself I'm voluntarily overpaying to support a local small business.

Of course, this only works if you're not buying your useless crap from Walmart.