How to get rich:
Step 1: Already be quite rich
People in 2008:
“Yeah let me just buy up all these cheap assets with my lack of employment”
The disaster comes in many forms … a common one that many rich people take advantage of is … the disaster of having a wealthy relative die to receive the inheritance.
The best way to get rich:
How does a non-rich person soak up all the resources?
Make a few extra holes and become a sponge
Taking on extreme risk. There’s a disaster going on.
I’ll bite. How does one take extreme risk with the goal of making a lot of money?
You can buy a heavily leveraged stock for example. When the stock market turned around now a few days ago, im sure there are people who bought AMD with 10x leverage.
Its up like 30% in a few days… 300% profit.
So that’s how you triple your money with high risk. Of course you need to have money to bet.
Okay, for instance, in 2008, when the housing market crashed, people that had access to liquid capital were able to buy cheap houses, and now, nearly 20 years later, those same houses that they picked up for a few thousand dollars are worth anywhere between ten to a hundred times their cost.
When the stock market collapsed, people that had cash on hand were able to buy stocks in companies that would recover and ended up profiting immensely.
Those obviously require cash, which I know is gonna be short on hand for most people, but I’m sure there are other opportunities available in the future.
It’s like they say the, if there’s a gold rush, the people that actually get rich are the ones that sell mining equipment. All you have to do is find out where the potential gold rush is and provide the mining equipment.
People that had access to enough liquid capital to do that were already rich. You’re describing a scenario when the rich got richer, not a path to riches.
I couldn’t have bought many houses then as a non-rich person. Your plan is to just play capitalism straight. Have money; make money.
The best way to get rich is to be born rich.
I hate that society in general is of the culture of “taking initiative”, which mostly translates to “exploit others for your selfish gain”, and people see it as completely normal.
I guess this is why so many people fervently oppose when the culture starts to shift back to wanting egalitarianism and people getting a fair chance.
Many people I live around genuinely complain about Medicare, public transport and social housing being expanded just because they got very slightly higher taxes this year.
You might be interested in the book Shock Doctrine: the Rise of Disaster Capitalism by Naomi Klein
Nah, the best way is to create the disaster and then soak up all the resources. This is what we see on the world stage all the time.
Wars are not random and there is a reason the US spends more on its military than Europe, Russia and China combined.
If the disaster is big enough for this to work out, your new riches will be worth shit anyway.
So far, every disaster has ended in about a decade.
I’m not saying it’s possible for everyone to be rich, and I’m not saying that capitalism is not one of the primary sources of evil in the world, i’m just saying if building generational wealth is one of your goals for this lifetime, then there’s no opportunity like a disaster to make it happen.
Yeah I read your comment above and I totally agree now. I thought you were talking about raiding houses after an earthquake lol.
Rn I’m doing the best I can to shovel money out of the AI bubble
What were you invested in before and where are you moving your assets now?
I’m largely invested in consumer staples, always have been. I understand the business model.
My day job is building enterprise AI tools: I’m shoveling as fast as possible so when I’m laid off theres a pile to use.
deleted by creator
“Wait”. Sure.
what?