We need to talk about the difference between a millionaire and a billionaire.
It's Not Left Or Right, It's Up Or Down:
Other previous videos on politics:
1. we need to have a serious conversation:
2. no ethical consumption under capitalism:
FOR GETTING YOUR MONEY TOGETHER, WE PERSONALLY ENDORSE:
Advisor.com:
Betterment:
“Is My Broke Friend Jealous Of Me?”
It’s Not Left or Right, It’s Up or Down
“Is Trump Going To Destroy The Banks?” | Asked & Answered
no ethical consumption under capitalism lol
we need to have a serious conversation
Tipping Culture Is Completely Broken
Toxic Wedding Culture, MLM Propaganda, And Moving Beyond Cheap Decor: An Audience Q&A
Why It Feels Like You’ll Never Catch Up
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For real, if Americans understood the difference between a million and a billion, and exponential rates of change, we might view wealth inequality, climate change, and pandemics differently.
Good luck 😂
They understand nothing at all !
Honestly infographics showing the difference visually represented between a million and a billion seem to help a bit, but often takes repetition. I really wish people would include them much much more often when speaking about billions of anything, otherwise people will just equate things that rhyme as similar.
I find that unless people are used to logistical thinking that involves numbers, they rarely consider scale unless it’s presented in a visual way. That’s the only way I’ve gotten it to click for people, especially boomer relatives, but not only them.
Nailed it
I get it, but it naturally won’t matter to people who may never see more than $100,000 in their account in their lifetime for any extended period. That can be for a variety of reasons, but money makes people think and act irrationally.
Youre allowed to have your successes and still be part of the fight.
It’s like the music executive attacking Chapell Roan because she said that artists deserved more protection. Saying she was too young and privileged to be talking about changing the ‘industry’.
This is not a “fight”. People like this are the problem with American society. She does more to normalize the extreme wealth gap than any billionaire by telling you theres nothing you can do about it except try in vain to escape poverty while we wage class warefare on you.
No don’t think the negative comments are implying that at all. Nor are they implying that she’s apart of the billionaire oligarchy that’s keeping impoverished people down, and I don’t think it’s fair to assume that these people are ignorant of the nuance within socioeconomic class dynamics. I think it’s just triggering for people who have considerably less than she does, to hear about this kind of information knowing full well that she’s going to be far less affected by everything that’s going on politically compared to them.
And I think that viewpoint is completely valid. I don’t think it’s right for those people to spew venom in the comments section or say rude things at all, but I completely understand why people, those with the absolute least who stand the risk of being seriously harmed by this administration, would feel that way. It’s not jealousy or insecurity, and it’s not that they don’t agree with the message. It’s just that for them, they don’t want to hear it from someone with more resources and privilege than they have.
@STARSAPPHIRE91 No, we do disagree with the message. The message of reforming capitalism is mentally ill. We need to overthrow it. It has nothing to do with our fefe’s. You people are useful idiots, thats why we make you our targets.
@STARSAPPHIRE91 oh yes im sure the global south agrees completely 👍
Now seems like a good time for me to say thank you to The Financial Diet team. I was a community college pell grant kid and you got me through under grad, the pandemic, grad school, and now my first job as community college faculty. I’m not sure what my life would look like without your guidance and inspiration. Thank you.
Awww congrats so much! Great job! So smart and wise of you to stay on top of your finances! We’ve been through so much this past 1.5 decades and honestly, TFD has always kept their fingers on the pulse, for real for real
My parents grew up very poor and through a ton of luck and hard work they have RECENTLY made it to upper middle class. But they still do not understand a ton about finances. Because of you guys, I now know what I need to do at 26 what my parents are still trying to figure out. They had Whole Life Insurance and a ton of debt at my age. I found this channel early in college, and as a result have never had bad debt, have a robust emergency fund, and Im hoping to retire early. Thank you to this channel. Thank you. Thank you.
Same here. My parents struggled through poverty and immense debt that they’re still working to pay off, so now I get to learn from their mistakes. It’s a great privilege to get their wisdom and financial advice on everything, and I hope I can build enough wealth so that they don’t have to work past their retirement as they are slated to now.
It’s crazy to exclude people who are a little better off from the fight to protect the most vulnerable. The vulnerable are often so stressed and overworked just surviving, they can’t fight on their own. If a person has a little breathing room, they can organize others, make phone calls, donate to causes. We need them desperately because they have a bit more bandwidth
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This!!!
100000% BE MORE RICH ACTUALLY if it means you can use your time and influence to help advocate for the rest of us and spread the message.
Extremely good point
A million seconds is about 11 days; a billion seconds is about 31 years.
The one that sticks in my memory is Tom Scott’s video where to show a million dollars, he walks from a store to his car in the parking lot. To show a billion, he gets in said car and drives for an hour.
32 years!
YES! THANK YOU! To quote my husband, “when we say ‘eat the rich’ we aren’t talking about the moderately successful dentists.”
Lol love it! Yeah the difference between a guy making six figures who may even be a millionaire (gasp! But that basically is just a halfway decent investment portfolio or even a modest house with good equity), so that ‘rich’ guy and a literal BILLIONAIRE who has over a thousands times more:/
@@ELLEB3LLE You lack so much perspective. Future America looks like shanty towns outside of gated palaces. You people have no idea what side your even on. You know western liberals in the 3rd world say the same thing right?
Audrey begs 2 differ. 🌱👽
@@user-mi8vu9vt6g You do realize the right wing in the third world says the same thing right?
@@aibrainlet8041what exactly does that mean? In this context and in general? genuinely curious as a person originally from a third world country
There’s a huge difference between, “I’m able to live a comfortable little life” and “I have enough money to end world hunger out of pocket without impacting my lifestyle and choose not to.” If anything, your improved financial standing over the years just legitimises the financial information you publish. (Saying this from Canada, where we collectively understand basic math and nuance.)
Exactly bc if she was still ‘poor’ then they’d mock that too. You can’t win!
In a world where $1000 would be life changing (from their perspective in the moment) to a lot of people, millionaires vs billionaires is like arguing the jedi vs the sith to someone who works at a random bar in the galaxy. They’re both just space wizards swinging swords around and maybe damaging their stuff in the tussle. “Eat the rich” might as well mean anyone who has more than $500,000 in their account to just spend to someone who’s never even touched $50,000 if the fires really get going and people are desperate.
“Where we collectively understand basic math and nuance” 😂😂😂 oh boy I felt that
@@normandy2501 sure, lets shake down old people for their reasonable retirement funds and ignore Elon Musk being the richest man in the world. I understand the average person can’t tell the difference, because the average person is honestly not that smart.
@@normandy2501what a weird characterization of class struggle
The fact that Chelsea played the capitalism game and came out successful in it and she STILL THINKS that this system is F*CKED UP says a lot. I’m pretty financially comfortable as well. I am no where near to being a millionaire, but I also think that this system is F*UCKED UP!! We genuinely have to work together to improve things.
Some self made people will see how hard it was and not wish that on others. They will see they were an exception and see most people can’t change class. That’s statistics btw.
Self made and some wealthy people can have compassion for less fortunate people too like Luigi Mangione did.
Some people tried to use Luigi’s rich family to discredit him too.
@@user-gu9yq5sj7cfrankly altho this channel is pretty honest about it a lot of the people who just happened to make it luckily think “bootstraps” are all you need
ElonMusk: I’m rich! I can put $6B towards ending world hunger. Psych! Imma buy Twitter instead.
Dolly Parton: I’m kinda rich. How about I create an industry in my hometown that draws in consumer dollars, creates jobs for locals, and I’m also going to put free books into the hands of as many children as necessary for years of their lives.
They are not the same.
Dolly Parton is a Republican. And worth over half a billion dollars. The oligarchs in every stage of history did public works for the sake of their image. This means nothing.
LOVE Dolly!!!
This is also a beautiful example of what it means to belong to a place and a community. I don’t think Musk knows how to care about a place and make it better. If you own too many houses all over the world, I guess that can happen.
@@jessamineprice5803 to be fair, his idea of improving his home country is probably to bring back apartheid
WWDD is a better bracelet anyway. But you know who would say it isn’t? Dolly 😍
Thanks for this one. I get SO tired of this conflation of people who can afford a 3 bedroom house or 2 cars vs people who can just buy a law they want to exist, or pay to have a law removed. MASSIVE difference!!!
Someonr tell her not to use vibes
If you’re a couple months away from serious financial trouble, if you actually live off your income and *work,* you’re just not the “rich” anyone is talking about lmao, we *want* people to be able to have comfortable, happy lives, we *don’t* want a select few to hoard many thousands of those comfortable lives’ worth of resources to no real benefit of their own, and to the massive, inter-generationally-reproducing detriment of basically the entire planet.
@@chloedsmithyeah that’s not accurate though. With a lot of these people, any amount of money that’s able to let someone have a comfortable life is evil simply because they don’t have it.
@@DrDroog29no or wtf are you talking about
@@alisonmercer5946 I’m not replying to you, I’m explaining to the other commenter under you how a certain subsection of people think. I’m not correcting you or even replying to you. Maybe read/obtain context before “wtf are you” comments.
I can’t believe Chelsea who is married to a Frenchman would spend time in…
*checks notes
France.
What a monster.
@@corngreaterthanwheat and she’s mostly staying with family, visiting relatives, not at opulent resorts gallivanting to designer stores for unlimited shopping sprees (but Chles if you are, pls do some DITL and haul vids lol).
Guys, seriously. France is not some shockingly luxurious place. Anyone can go there and hang out. If anything life is cheaper (and more modest) than in the USA in most cases because there’s public transit and more housing options (like… apartments)
@@freshfreshfreshfresh next you’ll be insisting that champagne is cheaper there too;)
@freshfreshfreshfresh I think it’s pretty clear that you’re blind to the fact that many, many people cannot even afford to travel one way to France.
Huh. Did not know her husband is French.
I just can’t with YouTube comments anymore. I’m getting so sick of our best and brightest content creators constantly having to dumb down and offer all these asterisks and justifications for the great, intelligent info they’re providing. If you’re missing the point that much, I don’t even know what to say. Bless you Chelsea for caring enough to post this. It must be exhausting.
Not surprised when half of Americans can barely read tbh
That’s the consequence of a broken education system and the influence of social media. People are bad at listening and understanding, and I can’t help but wonder if it’s because Internet culture has put too much emphasis on individualism, talking and being in love with your own ideas. Aside from the bean soup fiasco, I see other things like that on Pinterest: people mad that someone CASUALLY suggested grass fed beef to make a dish better because “we can’t all afford that” as if they need everything tailored to them within their unstated budget. It’s pretty bad.
I think many people picture a “billion” as though it’s the next place value up from “million” instead of being 1000x a million.
Many people are very uneducated, yes.
They need to acquire financial literacy.
So true. People really do not realize how much money that actually means.
Which is insane because someone can be a millionaire and maybe they are comfortable for retirement. Now.. 10 million? 20 million? That’s different. That CEO’s net worth was apparently 43m.
If you’re one missed paycheck from homelessness, your enemy is not the person who is six missed paychecks from homelessness.
I’m going to try to remember this one – I like the framing. But really, I’ll probably just hope you stay out here commenting
Brilliantly put.
Yes and now that the bill to shred Medicaid by 880 billion dollars passed through the house and is on to the senate, many will be closer to homelessness.
Nicely put ❤
Sometimes it is. Such as when the person six missed checks from homelessness openly promotes participation in wallstreet speculation, tries to erase the history of democratic thinking for the sake of faking “class consciousness”, and otherwise thinks very highly of themselves as a voice on the left (except the left don’t real!) And so on.
This channel has always been a source of disappointment for me. She’s always talking about how we should just… participate in the system right now regardless of how bad and risky it is. Because she cannot fathom people wanting to live without capitalism. And she cannot hold herself accountable for where her money came from, for the people who lost their investments, for the larges swats of the population whose wealth gets drained by the thousandth of a penny every single time you make a single dollar in speculation.
Getting rich inherently means exploiting others and hoarding wealth others need more than I do. Even moderately rich. There’s no point in trying that without first fixing the system and guaranteeing abject poverty can no longer happen.
I don’t see how anyone can sit in front of a camera and talk about all this without also thinking “we should be rioting and forcing the universal basic income”. Anything less is just fake class consciousness.
I am 1000% here for spicy Chelsea. The reason why I love this channel is the transparent acknowledgement of class consciousness, and how that brings context to personal finance.
Same! That’s what led me to this channel!
We “normal” people don’t interact with or even see billionaires, so they and their absurdly lavish lifestyles are effectively invisible to us. We do see the richer neighbor, which is why I think people tend to compare themselves with and get upset with the moderately wealthy.
Great point
Doing well is not class treason. Thanks for your work and keep it up.
Best comment in this whole video!!!!
Hell yeah.
We can’t eat the rich if we’re too full from eating each other.
this
Exactly what the billionaires want!
this quote goes hard. throw it on a shirt
well said
💯💯💯
“When I was poor and complained about inequality they said I was bitter; now that I’m rich and I complain about inequality they say I’m a hypocrite. I’m beginning to think they just don’t want to talk about inequality.”
― Russell Brand