BREAKING: Kanye West RAGE QUITS Tim Pool's show after Tim Pool pushed back on Ye's antisemitism pic.twitter.com/ZcFqtFIQkZ— Right Wing Cope (@RightWingCope) November 29, 2022
You love to see the circular firing squad of :fash-infighting:
There's an old Trumpism about how he is sitting in a limo with Ivanka back in the 90s, during one of his bigger slumps. He points to a homeless man on a street corner and tells his daughter, "I have a billion dollars less than that man". Decades later, Hillary Clinton bragged that she was one of the poorest people who ever ran for President by citing some quarter billion in campaign debts. Both incidents really changed how I saw the idea of wealth in the Western sense.
Rather than being a measure of one's personal capital/currency accumulation, I've begun to see it as one's institutionally perceived credit-worthiness. The amount of material wealth you possess promises a certain future level of passive income relative to the performance of the overall economy. But your real ability to exert that wealth as spending power stems from your ability to borrow against it. Everyone from Mark Zuckerberg to Warren Buffet is ultimately a slave to the lending markets. If they are ostracized from the system, they can't readily access currency without liquidating assets. They're exposed to all sorts of short-term price shocks and personal liabilities.
When you're in a business as mercurial and illiquid as the music industry, I imagine this problem is even more pronounced. So much of your ability to call on personal spending power is bound up in your perceived revenue-generating capacity. And that is, in turn, predicated on your connections within the industry.
TL;DR; A guy like Kanye really is only a billionaire on paper. His ability to command his wealth is entirely predicated on access to credit cards and other forms of debt/financing. And these debtors are undoubtedly rapacious, particularly when confronted with a guy who commands such enormous cash flows in such an unstable state of mind.
All this shit could vanish under his feet in an instant. That kind of precarity must be absolutely hellish for a normal person, much less one who wasn't all the way there to begin with.
He has hundreds of millions to billions of dollars and is still upset its not enough and blames Jews for this :brainworms:
Think he legitimately believes he'd be president if "they" weren't holding him back.
There's an old Trumpism about how he is sitting in a limo with Ivanka back in the 90s, during one of his bigger slumps. He points to a homeless man on a street corner and tells his daughter, "I have a billion dollars less than that man". Decades later, Hillary Clinton bragged that she was one of the poorest people who ever ran for President by citing some quarter billion in campaign debts. Both incidents really changed how I saw the idea of wealth in the Western sense.
Rather than being a measure of one's personal capital/currency accumulation, I've begun to see it as one's institutionally perceived credit-worthiness. The amount of material wealth you possess promises a certain future level of passive income relative to the performance of the overall economy. But your real ability to exert that wealth as spending power stems from your ability to borrow against it. Everyone from Mark Zuckerberg to Warren Buffet is ultimately a slave to the lending markets. If they are ostracized from the system, they can't readily access currency without liquidating assets. They're exposed to all sorts of short-term price shocks and personal liabilities.
When you're in a business as mercurial and illiquid as the music industry, I imagine this problem is even more pronounced. So much of your ability to call on personal spending power is bound up in your perceived revenue-generating capacity. And that is, in turn, predicated on your connections within the industry.
TL;DR; A guy like Kanye really is only a billionaire on paper. His ability to command his wealth is entirely predicated on access to credit cards and other forms of debt/financing. And these debtors are undoubtedly rapacious, particularly when confronted with a guy who commands such enormous cash flows in such an unstable state of mind.
All this shit could vanish under his feet in an instant. That kind of precarity must be absolutely hellish for a normal person, much less one who wasn't all the way there to begin with.