Billionaire Jeff Bezos advises people to be careful with their money this holiday season

Burty117

Posts: 4,698   +3,060
I couldn't answer what's in my damn fridge half the time. "Wait, did that expire? Did I eat those leftovers or are they still there? Did I eat it, or did my partner?"
Heck, it's not uncommon for me to get home to something I've never heard of in the fridge because she saw it and thought it looked interesting to try. That's not a metric of anything.
The fact you could answer half the time AND you know food is in it, is still infinitely better than Bill's total silence and "that's where I think food is stored" statement.
Have you ever watched any documentary's on billionaires?

I'd also like to add the CEO of the company I work for is very much a multi-millionaire and he also lives in a completely different world. Money is just a number to them, the money "advice" he's dished out in the past ranges from silly to absurd. If I listened to his advice I wouldn't have a house deposit at all.
Agree with everything you said except "luck". I'd replace it with corruption. "There is also definitely an element of corruption to it."
Oh 100% corruption is right up there. When politicians can be soo easily paid off and competition bought out. Billionaires are rife with it.
 

hwertz

Posts: 211   +123
I don't see the anger over someone who, after all, benefits from people buying stuff off Amazon as fast as possible, advising people to batten down and consider what they spend. It's just friendly advice from him.

That said...
1) I have not seen any good deals, the "Look at these large percentage discounts!" are largely on the hideously overpriced models, discounted slightly to being merely very overpriced.. "Oh boy, a $3000 notebook marked down to $2500, whoopee". I have zero interest in spending now thinking I'm getting some special black friday related deal.

On the other hand...
2) In a time of high inflation, unless you are expecting prices to drop back off (note, for electronics, they *have* been dropping somewhat...).... it can make sense to buy whatever ASAP, since the spending power of your cash on hand is only going to decrease over time.

3) If you can get a low interest loan, and inflation is high, it can even make sense to go into debt to buy stuff now that you were planning to save up for and buy later... if the x% interest costs are lower than the "I waited 3 months to buy and the price went up y%", then you come out ahead using debt to purchase now.

^---This discouragement from saving is contrary to usual recommendations, and is one of the reasons why extended times of high inflation can be so damaging to an economy.