Gyroscopic Investing

This is certainly an "interesting" way to waste time:

http://richkidsofinstagram.tumblr.com/

Personally, if I had such extravagant wealth, I would not think it very wise to post pictures of it on social networking sites.

Ooh, this picture is fun:



and this one is pretty good too:

Storm wrote: this one is pretty good too:

I wonder if that's U.S. dollars.  It looks like the soft drinks and watter bottles cost "10.00" each.  Even for a fancy resort, that seems a little high. 

If they had just skipped the "90,000.00" worth of what I assume are exotic bottles of Dom Perignon, it would have been a lot cheaper.

Even in a world where money is no object, I still think I would rather have another luxury car or maybe another closet of custom clothes rather than just one day of hanging out and drinking at a resort.

I wonder what the tip was on that bill.

I want this so bad! (3:14)

http://youtu.be/im1iNq02Kz0

MediumTex wrote: I wonder if that's U.S. dollars. 

It's St Tropez - so probably Euros, which Google says is currently $132,136.25

rickb wrote:

MediumTex wrote: I wonder if that's U.S. dollars. 

It's St Tropez - so probably Euros, which Google says is currently $132,136.25

Exactly.  At these posh resorts it's not that much of a stretch to see consumption items priced 10x normal rates.  There is no store to buy things at, and you're paying for a butler or waiter to hand deliver the $10 coke, with a glass of ice, to your shaded stretch of paradise on the beach.

What I find even crazier is that in a lot of these pictures they are taking the 40,000 Euro bottle of Dom Perignon and pouring it on each other, or wasting it in stupid ways.  It's almost like they're burning money just for entertainment.

I think it's a generational thing.  Their parents who most likely had to work to build industry and create their wealth pamper their children who never had to work for anything in their life and thus have the exact opposite approach to money.

I agree, Storm. I feel very strongly that no matter one's level of wealth, it's important to raise children to respect the value of money, appreciate the work that goes into earning it, and care for the possessions one buys with it. If not, then at best, you're "only" creating a spoiled brat, and at worst you're doing it while bankrupting yourself!

Have you ever seen the magazine "Intelligent Life" ? It actually has some great articles but I think it should be called "Rich, Thick and Prentious". One thing that struck me was that it is full of adverts for clockwork watches. I guess modern oligarchs spend their loot on clockwork watches. It is none of my business but I can't help thinking that is such a sad, grey and unimaginative way to display ability to waste money. In previous centuries the oligarchy at least paid for great art works or funded scholarship or whatever. Outlandish firework displays would at least be spectacular. Duplicate clockwork watches seem an utterly sterile waste. Basically you are paying for someone to sit in a workshop for thousands of hours making tiny metal cogs so as to display that you have the financial power to cause them to do so.

This website reminds me of weibo, i.e. Chinese facebook.