When things are going well, billionaires make lots of money but people who are comfortable pick and choose what they are willing to sell. They have income so want to hold on to their assets while they pay their expenses using that income. They can also commit to financial obligations while being confident their income will cover it.
When things aren’t going so well, income can fall and force people to sell assets to cover their expenses. And those financial obligations can end up underwater, forcing them to give up assets.
At the end of the day, wealth isn’t money. That’s just the vehicle used to access wealth. Real wealth is things like property ownership, means of production, the resources to feed that production, food and fuel to keep it all going, weapons to protect yours and attack others’, followers to do your bidding (that generally need to be paid in access to the others).
When things are going well, billionaires make lots of money but people who are comfortable pick and choose what they are willing to sell. They have income so want to hold on to their assets while they pay their expenses using that income. They can also commit to financial obligations while being confident their income will cover it.
When things aren’t going so well, income can fall and force people to sell assets to cover their expenses. And those financial obligations can end up underwater, forcing them to give up assets.
At the end of the day, wealth isn’t money. That’s just the vehicle used to access wealth. Real wealth is things like property ownership, means of production, the resources to feed that production, food and fuel to keep it all going, weapons to protect yours and attack others’, followers to do your bidding (that generally need to be paid in access to the others).