Why Wealth Matters: A Conversation with Morgan Housel (Episode  

lol you got a timestamp for this?

@@fallingintofilm it's at the very beginning talking about Biden's public speaking lmao. It's right after he talks about the 1/6 hearings.

@@ws8061 Thanks! 🙏🏻

@@ws8061 hilarious. So unexpected 🤣

Yeah, he is great. I often enjoy listening to him merely for the soothing cadence of his voice. It also helps that I agree with him on most of his politics.

That was my thought process during this. Since the 50s inflation has been 10x - 20x what it was then yet income has not increased. I make a 6 figure living with a wife who also works yet student loans and housing costs in what used to be modest areas like Utah are now $500k for a house that was $200K in 2012

American prosperity in the 1950s came from an extremely unique set of circumstances that won’t ever be replicated: Most of Europe and Asia was still busy rebuilding from the ruins of WW2. The US was the only major power to still have its homeland intact.

Everyone was moving up, the rest of the world depended on American industries, and social trust and community was much higher.

@@redryan20000 I'm sorry, you're telling me that social trust was higher in the 50s? How do you square that with the fact that McCarthyism dominated the first half of the decade?

@@danpolta8759 Largely overblown. Politicians and marxists were under threat, but that doesn't represent much of anyone.

I think people think the simple culture and economic prosperity are the same thing

Yes, we all enjoy this Trump-obsessed woke version of Sam Harris.

@@nealkelly9757 🤫

@@nealkelly9757 "Trump-obsessed" This take from you guys is so fucking bizarre. Dude was president and is the front-runner for 2024. If you are in a career such that you are engaged with politics in any way at all then you literally have to talk about Trump. He is a central figure in American politics. Also, aren't you guys still waiting for JFK jr to be resurrected so that he can re-install Trump as president? Maybe you should check that out before calling people obsessed.

He probably doesn't read comments but hey welcome back

@@nealkelly9757 i think taking about the leader of a democracy for 2 minutes isn't obsession!?

He's so damn out of touch with what the average family goes through, let alone a family at the bottom of socio-economic ladder

@@Mattsretiring oh shut up

@John-Paul Hunt that's fascinating mate

Agree , I hadn’t appreciated the difference between rich versus wealthy, as he puts it the latter being money that’s not used but stored and available if needed , and therefore helpful in terms of our psychological well-being . Rich would probably be ok too though…

uhm, you mays not want to go to this extremist clown for your political education and news

sick brag.

Same!!

Yeah, mostly don't. Save and invest at or above your long term plan. Don't carry debt. Many people in the US can still do these things, they just won't live luxuriously. But no worries.

@@DAG_42 Lol try paying rent in Key West and simultaneously "live non-luxuriously". Living modestly to save doesn't even exist in a lot of areas anymore A G.

You can not find ONE person or ONE movement where you can find everything right. Our environment is changing, our lives are changing and we are adjusting. We will make mistakes, we will not like some ways that others will try, but who the heck thinks it is even possible? It is a process where we try, fail in certain parts, learn and try again. But one thing is for sure: Totalitarian societies, personally disorder leaders are not a future we want. Live and let live until it is between a limit. A limit what an open society sets by its members. Not a top down, forced, twisted nightmare. Not The Handmaid's Tale‧ real life experience. Or other scifi reenactment.

There are circumstances when the pregnancy abort. I know someone who was pushed down deliberately and the pregnancy aborted itself. There was no need for intervention. An abusive situation, financial hardship, psychologically unhealthy environment is no place to give a birth to. What kind of future was there anyway? In that hopeless, abusive, lack of love environment there is hell, no future.

But do we need her?

@@chriswatson3464 why would we need a political extremist lunatic, working to solidify an insur-ion of an unelected old folks home patient destroying the country at a pace never before seen?

Elaborate?

Thanks very much man, i appreciate it.

We are all thankful you have "no words".

@@nannyg666 thats right, anyone concious gives a single thought to any of you people who preferred an unelected vegetable whos destroyign the country over the best presiden in modern history

This. He has the ability to navigate and lay out complex things (that we all think about) with such clarity and calmness. It is good to have Sam Harris in this crazy world.

I wish I had an intellect like his. Not fair, but what's the point of wishing things a way they aren't.

There certainly were much fewer housing regulations then, much more new housing being built, and they were much smaller.

yess

People's relative income has barely budged in 30 years, never mind doubled

Ham Sarris would never say he finds Cassady Hutchison compelling....miss that guy.

Peven Stinker

Rave Dubin

Lol

Pordan Jeterson

Yes. She was telling what she saw, heard, knew, and what her superiors and the secret service told her. So some was what she was told. That was well explained. What it did do is let the committee, and the people who were involved know what she was testifying to under oath. It allowed the committee to compel actors involved to come forth. And ultimately some received subpoenas, such as Pat Cipollini. Who will testify to the committee under oath on Friday. As for the secret service and presidential detail, the hearsay involved those who were in the vehicle with tfg, and his details when he became angry and lashed out because the ss would not take tfg to the Capitol on J6. Since that testimony by Cassidy Hutchison, it was verified by the ss that she was told accurately. However, this was one detail out of over 2 hours of on air testimony and several days worth of testimony under oath which was recorded. If you want to know what happened, perhaps google that and watch it, as Sam has.

@@marianworley4985 "Since that testimony by Cassidy Hutchison, it was verified by the ss that she was told accurately. " oh, or had the actual secret service that were in the limo reach out and offered to testify that, obviously, he did not go james bond, tried to grab the steergin wheel from the back, while fighting off guards that tried to prevent him simultaneously. you people are living in a fairy tale...

Human consciousness, mathematically, is identical to 4D quaternion algebra with w, x, y, z being "real/necessary" 0D, 1D, 2D, 3D and i, j, k being "contingent/not-necessary" 0D, 1D xi, 2D yj, 3D zk. 0D is always w (real/necessary) 1D-9D contingent/not-necessary universe has "conscious lifeforms" (1D xi, 2D yj, 3D zk)..."turning" 'time'. [In mathematics, a versor is a quaternion of norm one (a unit quaternion). The word is derived from Latin versare = "to turn" with the suffix -or forming a noun from the verb (i.e. versor = "the turner"). It was introduced by William Rowan Hamilton in the context of his quaternion theory.] [Math; 4D quaternion algebra] A quaternion is a 4-tuple, which is a more concise representation than a rotation matrix. Its geo- metric meaning is also more obvious as the rotation axis and angle can be trivially recovered. How do you make a quaternion? (Nobody is starting with 0) You can create an N-by-1 quaternion array by specifying an N-by-3 array of Euler angles in radians or degrees. Use the euler syntax to create a scalar quaternion using a 1-by-3 vector of Euler angles in radians. "Turn" to what, you might ask. 5D is the center of 1D-9D (constellation Dorado [dolphinfish]). All things are drawn to the center, the whole. [Contingent Universe]: 3 sets of 3 dimensions: (1D-3D/4D-6D/7D-9D) The illusory middle set (4D, 5D, 6D) is temporal. Id imagine we create this middle temporal set similar to a dimensional Venn Diagram with polarized lenses that we "turn" by being conscious. Which requires energy. 3D height symmetry/entanglement with 6D depth and 9D absorption is why we are "consumers", we must consume/absorb calories, and sleep, to continue "to turn" 'time' (be alive). 1D-3D spatial set/7D-9D spectral set overlap creating the temporal illusion of 4D-6D set. Transcending one another. 1D, 2D, 3D = spatial composite (line, width, height) 4D, 5D, 6D = temporal illusory (length, breadth, depth) 7D, 8D, 9D = spectra energies (continuous, emission, absorption) Symmetry/entanglement: 1D, 4D, 7D line, length, continuous 2D, 5D, 8D width, breadth, emission 3D, 6D, 9D height, depth, absorption [Time] According to theoretical physicist Carlo Rovelli, time is an illusion: our naive perception of its flow doesn't correspond to physical reality. Indeed, as Rovelli argues in The Order of Time, much more is illusory, including Isaac Newton's picture of a universally ticking clock. Does time exist without space? Time 'is' as space 'is' - part of a reference frame in which in ordered sequence you can touch, throw and eat apples. Time cannot exist without space and the existence of time does require energy. Time, then, has three levels, according to Leibniz: (i) the atemporality or eternality of God; (ii) the continuous immanent becoming-itself of the monad as entelechy; (iii) time as the external framework of a chronology of “nows” The difference between (ii) and (iii) is made clear by the account of the internal principle of change. The real difference between the necessary being of God and the contingent, created finitude of a human being is the difference between (i) and (ii). Conclusion: Humanity needs to immediately swap from "Newton" to "Leibniz". Also from Edison to Tesla. Also the Aether guy. Our calculus is incorrect (Leibniz > Newton): What is the difference between Newton and Leibniz calculus? Newton's calculus is about functions. Leibniz's calculus is about relations defined by constraints. In Newton's calculus, there is (what would now be called) a limit built into every operation. In Leibniz's calculus, the limit is a separate operation.

It is impossible to not recognise why the conservative movement is so passionate about overturning this decision. Not because of constitutional propriety, but because of ideological reasons. It is then a bit disingenuous to claim it was all about court overreach, when most conservatives have been clamouring about how a baby is gift from god for 50 yrs

I don't think you understand what he was refering to when he said shaky ground. The way that Roe was enstantiated allows for the court to overturn it very easily, in the vary manor that they did. He is saying that Roe should have been signed into law through the full democratic commitee of congress, senate, president ect. That way its so enshrined that it would take a unanimous vote in the senate to change it. His critisism is that it was a weak law, and should have been made stronger. I don't know why Republicans act like the Democrates are so dangerous when they are so god damn inaffectual. They are spineless demogauges who want to do as little as possible and are always worried about how the opposition will view them. At least Republicans, while I disagree with most of their political views, actually try to get the things they want done. Both parties are gross and need abolished so we can have a true democracy of people rather than parties.

@@kirathekillernote2173 They could have declared fetuses persons and made abortion illegal nationwide. This would also align with their views. They didn't do this. The thing they did aligns with what the constitution says (or rather, doesn't say), not what their actual views are.

@@jeremyn4397 Wait, that's exactly what I thought he meant. The way in which Roe was instantiated allows for the court to overturn it very easily. Put otherwise, overturning it was easily justifiable. It wasn't a law, it was a SCOTUS decision that prevented states from making laws. I agree with dems being pretty ineffectual... also agree that both parties suck. If only we had a strong libertarian party...

@@ticklefights If you listen to real conservatives like Matt Walsh, Ben Shapiro, it is 100% their philosophy. But unlike lefties, they don't support court ruling into existence their cause. But if you make federal legislation on the issue possible, or amend the constitution, conservatives will actually grant personhood at conception.

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MIKE ROBERT is the best recommending him to all beginners who wants to recover losses like i did.

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@Robert Wheeler whats the number

Yes indeed! Monologues like that are why I like the guy. It's like he's saying what I've been thinking

Although he misses the mark totally when talking about how Trumpism is a symptom of a deeper problem

@@jmc5335 Pease elaborate

@@LAdavidthompson He blames the left for Trumpism. Much like he blames the left for his promoting of fascists in Europe

@@jmc5335 Where does Sam say that exactly? Not in this podcast. Can you give specific examples please. Yes, he rightly blames the woke left for people voting on the right, which is obvious, but he actually says the left if to blame for Trumpism?

@@LAdavidthompson You just done the same thing. What is this 'woke left' to you and how did it lead to people voting for Trump?

I agree with you....Sam is totally missing the point here....It's virtually impossible for rich people to understand the plight of non-rich people. This is the definition of privilege and why so many people are trying to raise awareness about it. The problem with wealth is that it gives you a false sense of reality because you end up living in an ivory tower surrounding yourself with other wealthy people and that eventually breeds contempt for other people who are less fortunate. I wish Sam would just run his businesses as non-profit, giving away any excess to the worthy charities he's identified and just try to live off of $50K a year. Then he would understand.....it would help him become more aware of the reality that most of the human population has to live with.

Normal people are the ones who constantly buy shit from Amazon or have to get the latest iPhone with iTunes and pay the highest fees at their phone company for unlimited data to watch Netflix and run Facebook and Instagram and RU-vid constantly.

42:06 "and by almost any economic measure that you look at the median American household adjusted for inflation is so much better off today in the year 2022 than they were in any period during the 1950s and it's not even close, it's like out like the median household income adjusted for inflation is more than 2x today what it was in the 1950s and life expectancy, access to medical care, educational attainment like go on down the list of almost any metric..." He explained it quite clearly, he took the care not only to say that income is adjusted for inflation, but he also clarified that he was using median income instead of mean (average), which can be influenced by outliers, and even clarified that he was talking about household income, because thinks can look different if you consider just personal income.

Well it is night time in the US, what else do you expect? 🤨🤨🤨

I agree with you but Sam is too rational and would be viciously attacked from both sides. In my opinion that makes him a better candidate but it would be very dangerous for him.

@@chewbaccasworld3672 We all need compromise and a willingness to earnestly examine facts, statistics or we are lost as progressive societies. 4 years of people calling everything fake news has created such a caustic environment it’s almost impossible to have even the most basic political discussion without both sides going completely off the rails.

@@chewbaccasworld3672 thas right a guy who votd for a literaly old folks home patient destroying the country, over the best presiden in modern history is the face of logic

@@chewbaccasworld3672 The man can't handle Ezra Klein so I doubt he would manage against the rest of the press. His racist bigotry would go down well in some quarters, but blaming the Jews for their own genocide and saying that rape is preferable to religion would definitely be the death of his campaign. People would see through the hypocrisy

​@@jmc5335 I haven't heard him say those things and from what I have heard he isn't a racist or bigot. However I did hear him debate Ezra and even though I went into the debate supporting him for his freedom of speech position I thought he crashed and burned. Big time.

That would be legitimately hilarious.

Unused wealth is a depreciating asset. It’s called cash.

The value of the dollar diminishes rapidly. $10 to a millionaire is barely real. $10 ti a homeless person means they live another day. Beyond $X, the standard of living doesn’t really change much. Depending on where you live, there isn’t really that much of a difference between making $150k and $1m all things considered. Plug in whatever numbers you want, you get the point