Flaunting Wealth: Are We About To Reach America’s “Let Them Eat Cake” Moment?

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.

All he owns is a digital collectible that memorializes Jack Dorsey’s first tweet.

How ridiculous is that?

Even worse, someone recently spent 69 million dollars for an NFT “work of art” that was created by a digital artist named “Beeple”

Last week, the auction house Christie’s announced the artist Beeple sold a piece of artwork for more than $69 million, the third highest price for a living artist.

But “Everydays: The First 5000 Days” isn’t a physical work of art. It’s all digital.

The work was sold through an NFT, a burgeoning technology that could potentially change how we own everything from art work and concert tickets to our homes.

If you want to know how to get rich quick in America these days, just change your name to something really stupid like “Beeple” and start pumping out NFT “artwork”.

You don’t even have to paint anything, and you can make millions of dollars in the process.

Meanwhile, about two-thirds of all Americans are living paycheck to paycheck and are just trying to survive from month to month.

The gap between the wealthy and the poor has never been greater, and there is a tremendous amount of resentment building toward the ultra-rich right now.

In such an environment, you would think that religious leaders would be extremely cautious about flaunting wealth, but in many instances they are some of the most brazen examples of all.

A man named Ben Kirby started the @PreachersNSneakers Instagram account in 2019, and today it has more than 210,000 followers.  For more than a year, he has been posting photos of some of the most famous preachers in America wearing extremely expensive designer clothes

On his feed, Kirby has showcased Seattle pastor Judah Smith’s $3,600 Gucci jacket, Dallas pastor T.D. Jakes’s $1,250 Louboutin fanny pack and Miami pastor Guillermo Maldonado’s $2,541 Ricci crocodile belt. And he considers Paula White, former president Donald Trump’s most trusted pastoral adviser who is often photographed in designer items, a PreachersNSneakers “content goldmine,” posting a photo of her wearing $785 Stella McCartney sneakers.

When I was growing up in the 1970s, I never heard of this sort of thing happening.

In those days, preachers wore very conservative suits and ties, and they were usually not paid very well at all.

But now a new brand of “celebrity preacher” has emerged, and they are often treated like rock stars

In his book, Kirby writes that these pastors who have enormous social media followings aren’t simply pastors anymore, he writes. Often they are motivational speakers, corporate coaches and leadership consultants. Kirby said he has heard of churches where a volunteer was designated solely for the purpose of carrying the pastor’s Bible. Often, he writes, these pastors have private entrances, reserved parking spaces, security details and a gaggle of personal assistants or handlers. And, often, they promise blessings from God to their followers if their followers bless the church.

“Like Hollywood — a world so often criticized by the pietistic — these institutions and their leaders celebrate and reward the ‘blessing’ of fame, popularity and influence,” he writes. “Pastors function like ‘talent’ performing for an audience or like a spokesman for the church’s ‘brand.’ ”

If this is how corrupt our churches have become, what hope is there for the nation as a whole?

Flaunting wealth and throwing money around recklessly might be fun for a while, but there will be a price to pay.

Even as I write this article, the resentment that the “have nots” are feeling toward the “haves” is growing.

When things get bad enough in this country, a breaking point will come, and the “have nots” will be looking to extract some revenge.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on FacebookTwitter and Parler, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

America’s Upside Down Economy Just Took Another Bizarre Turn

Is this a good economy or a bad economy?  Well, that all depends on who you are talking to.  For most Americans, economic conditions have been absolutely horrible ever since the COVID pandemic first arrived.  More than 100,000 businesses have permanently shut down, approximately 10 million Americans are in danger of being evicted from their homes, and weekly unemployment claims have been above the old record set in the early 1980s every single week for nearly an entire year.  Meanwhile, the absolutely insane polices that the Federal Reserve and our politicians in Washington have been pursuing have made the wealthy far wealthier than ever before.  In early 2020, M1 was sitting at about 4 trillion dollars, and now it is up to 18 trillion dollars.  Much of that money has ended up in the pockets of the ultra-wealthy, and now they are spending it is some pretty odd ways.

For example, NFT art is one of the latest crazes.  You can’t hang NFT art on your wall, but that isn’t stopping people from paying ridiculous amounts of money for it.  In fact, things have gotten so crazy that one film director has decided to sell audio clips of himself farting as NFTs…

A Brooklyn-based film director is simultaneously mocking and attempting to profit off the cryptocurrency craze for non-fungible tokens (NFTs) by selling a year’s worth of fart audio clips recorded in quarantine.

“If people are selling digital art and GIFs, why not sell farts?” Alex Ramírez-Mallis, 36, told The Post of his dank addition to the blockchain-based NFT market.

You would have to be absolutely nuts to purchase such a thing, but apparently someone has already purchased one clip for 85 dollars

Individual fart recordings are also available for 0.05 Ethereum, or about $85 a pop. The gassy group has so far sold one, to an anonymous buyer.

“If the value increases, they could have an extremely valuable fart on their hands,” he said.

Pizza Hut has decided that they want to get in on the NFT craze as well.

In Canada, the company originally listen an NFT of a pizza slice for 18 cents, but it ended up selling for $8,824

Pizza Hut Canada has announced it is releasing “1 Byte Favourites,” aka digital images of pizza, as non-fungible tokens. “Pizza Hut believes no world should exist without pizza, especially their pan pizza. That’s why they wanted to make sure it was enshrined in the digital universe,” they said in a release. Each week the company will release a new image of a pizza slice, each of a different recipe, for purchase on Rarible. The first-ever “slice” was listed for $0.0001 ETH (a cryptocurrency the equivalent of 18 cents), but wound up being sold for $8,824.

This is madness, and it is also a grave insult to all of those that are deeply suffering out there.

Could it be possible that we are rapidly approaching our own “let them eat cake” moment?

As the ultra-wealthy continue to throw their money around in absurd ways, most people are just struggling to get by from month to month.  On Thursday, we learned that another 770,000 Americans filed new claims for unemployment benefits last week…

Figures released Thursday by the Labor Department show that 770,000 Americans filed first-time jobless claims in the week ended March 13, higher than the 700,000 forecast by Refinitiv economists.

Weekly jobless claims have remained stubbornly high for months, hovering around four times the typical pre-crisis level, although it’s well below the peak of almost 7 million that was reached when stay-at-home orders were first issued a year ago in March.

After all this time, the number of Americans filing for unemployment benefits each week is still about four times higher than pre-pandemic levels.

And we just learned that retail sales fell pretty dramatically during the month of February

Americans shopped less in February, leading retail sales to fall 3% on a seasonally adjusted basis, the Census Bureau reported Tuesday.

It was a much steeper drop than the 0.5% decline economists had predicted, according to Refinitiv.

Bad weather across many states were part of the reason sales declined last month.

When things go badly, they love to blame the weather.

Of course the new stimulus checks that Americans are now receiving should help to boost retail sales temporarily.

But at this point there are no plans to cut checks every month, and any short-term assistance will only briefly alleviate the long-term suffering that so many Americans are enduring.

We are currently in the midst of the worst economic downturn since the Great Depression of the 1930s, and a lot more pain is on the horizon.

Even though I write about this stuff on a daily basis, I was surprised to learn that the results of a recent survey show that finances have now become the number one source of stress for the American people…

WalletHub’s new Coronavirus Money Survey also reveals that the nation’s focus is now shifting from the virus to finances. The survey of over 750 Americans in March 2021 finds money is now the biggest stressor around the country.

Three in 10 respondents say money is their greatest concern this year, a 15-percent increase over last year. COVID-19 is still the top stressor for 28 percent of Americans. As coronavirus safety measures fade however, researchers find people are getting back to worrying about how to make ends meet.

If you don’t know how you are going to pay the bills this month, that can be a source of stress that never leaves you day or night.

Those that have gone through this sort of emotional torment know exactly what I am talking about.

So when the ultra-wealthy throw their money away on “farting art” or “Pizza Hut art”, that is like rubbing dirt in the faces of tens of millions of Americans that are desperately trying to figure out some way to survive from month to month.

The ultra-wealthy can continue to flaunt their wealth, but already we are seeing the rise of the “Robinhood mentality” that so many have warned about.

When things get bad enough, the poor will start venturing into rich neighborhoods, and they won’t be there for a social visit.

We still have relative stability for this brief moment, but it won’t last very long at all.

***Michael’s new book entitled “Lost Prophecies Of The Future Of America” is now available in paperback and for the Kindle on Amazon.***

About the Author: My name is Michael Snyder and my brand new book entitled “Lost Prophecies Of The Future Of America” is now available on Amazon.com.  In addition to my new book, I have written four others that are available on Amazon.com including The Beginning Of The EndGet Prepared Now, and Living A Life That Really Matters. (#CommissionsEarned)  By purchasing the books you help to support the work that my wife and I are doing, and by giving it to others you help to multiply the impact that we are having on people all over the globe.  I have published thousands of articles on The Economic Collapse BlogEnd Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe.  I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article.  The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions.  I encourage you to follow me on social media on FacebookTwitter and Parler, and any way that you can share these articles with others is a great help.  During these very challenging times, people will need hope more than ever before, and it is our goal to share the gospel of Jesus Christ with as many people as we possibly can.

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