Flaunting Wealth: Are We About To Reach America’s “Let Them Eat Cake” Moment?
Francesco Abbruzzino, The Uncensored Report, LLC
In the social media era, public displays of wealth have become a way to show the world that you are “somebody”. Of course our value as human beings has absolutely nothing to do with how much money we have, but it is undeniable that those that have tremendous wealth are often idolized in our culture. Just think of how much we fawn over Bill Gates, Elon Musk and countless social media “influencers” that have become household names. Sadly, this has created an environment in which people increasingly feel a need to flaunt their wealth, and that is extremely unfortunate.
Since the beginning of the COVID pandemic, 8 million more Americans have fallen into poverty, 10 million more Americans are now in danger of being evicted from their homes, and more than 70 million new claims for unemployment benefits have been filed. With so many people deeply suffering, it is extremely insensitive to publicly flaunt your wealth, but many rich people are doing it anyway.
Recently, social media influencer Kylie Jenner has gotten a lot of attention for photos that she has been posting to Instagram. In one, her daughter poses with a $1,390 designer bag in front of a $225,000 Lamborghini…
Kylie, 23, posted a new picture of her toddler today, as the two enjoyed the Calabasas sun.
The Instagram model showed off Stormi’s outfit, consisting of gray sweatpants, a matching tank top, colorful sneakers, and a $1390 mini tan Prada bag.
As if the high-end bag wasn’t enough of a flash of wealth, the photo was taken in front of Kylie’s $225K bright orange Lamborghini.
The caption “chill days w mommy” was posted under the photo.
How are the millions of Americans that have had to wait in line for hours at local food banks supposed to feel when they see something like that?
Another way that wealth is being flaunted is through the purchase of NFTs. On Monday, a tech executive paid 2.9 million dollars for an NFT of Jack Dorsey’s very first tweet…
Twitter CEO Jack Dorsey’s first tweet, offered for sale as a nonfungible token, was sold on Monday for 1,630.58 ether, a cryptocurrency. That’s equivalent to about $2.9 million based on ether’s price at the time of sale.
The tweet, which said “just setting up my twttr,” was first published on March 21, 2006. It was listed for sale as an NFT on March 6. By March 9, the highest offer was from Sina Estavi, CEO of Bridge Oracle. Estavi won the auction, though his bid was worth about $2.5 million it was placed.
Of course Sina Estavi doesn’t actually own Jack Dorsey’s first tweet now.