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The Great Pretender

The Rich Are Getting Richer

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A friend of mine posted this on Facebook today:

http://www.guardian.co.uk/money/2013/jun/24/who-wants-serve-billionaire-superyachts

It's an interesting subject to me, because my current girlfriend is quite high up in the industry, so in the last 10 months or so that I've been dating her, I've had quite an insight into the world of super-yachts. To be honest, I didn't even know the industry existed prior to that.

The money involved and level of waste is absolutely eye-watering. Totally disconnected from all sense of reality. I was invited to the launch party of the yacht she's on at the moment, which cost the owners in the region of half a million euro's. And they even didn't show up.

If there's one thing I've learnt, it's that even at that level, keeping up with the Jones' is still ingrained. For many, it's less about being rich and much more about being seen to be rich. It's garden room extensions and German cars in the drive, just on a much grander scale.

I've also noticed how easily the staff get sucked into the spend-free mentality. They earn very good money, but all their expenses get covered when they're working, so when they do get off the boat they go nuts (as is alluded to in the article). My girlfriend earns an absolute packet, I'd estimate in the region of 5-10 times what I earn, but she still manages to have a reasonably big mortgage and credit card debt.

My main point of posting is to wonder how big the gulf between rich and poor will get before anything happens? Maybe this belongs in off-topic (?!), but I think it's a relevant discussion.

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They need more money inflation is starting to affect them.

Why life's getting more expensive for the super-rich

Life's getting more expensive for the super-rich too. According to wealth managers Stonehage, London's ultra-wealthy have seen prices of luxury goods and services rise by 4.9pc over the past year. That marks a significant increase in price inflation, following a 1.6pc decrease the previous year.

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Ah... I suspect this is an probably an advertorial I am afraid and therefore the contents should be taken with a pinch of salt.

The company mentioned in the article Bespoke Bureau has a cash balance of £79 in its latest account... Gold falling from the sky serving the superrich... maybe not quite.

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People are creatures of habit, if you overspend when you are young you will overspend when your older. If you overspend when you have a lower income you will overspend when you have a bigger income. Incidentally its tax efficient to spend rather than paying it out in tax....

Edited by AteMoose

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  • 239 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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