I think the “socialism for the rich” meme works because if you have a billion dollars, and one mistake costs you 99% of what you’ve earned over an entire lifetime, you’re still rich.https://twitter.com/RBReich/status/1095066916870180864 …
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Seeing the really rich invest in high risk-high reward stuff and not realizing that it’s the tip of a pyramid of safe real estate and bond holdings is a mistake.
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There’s a certain kind of frugality (and even cheapness) I’ve noticed in old money also.
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