Richistan: A Journey Through the American Wealth Boom and the Lives of the New Rich
By Robert Frank
Just before the U.S. economy took a brutal beating in 2008, Robert Frank wrote this book detailing the lifestyles of the wealthiest Americans. The spending habits of these multi-millionaires and billionaires (because just having a million dollars now-a-days barely raises you above the middle class) demonstrate a shocking level of consumerism and opulence. And if readers aren’t dazed by the spending, they may still experience feelings of astonishment over the amount of debt people are willing to get themselves into in order to “have it all”.
Before reading this book, I thought I had a pretty good idea of the amount of money the “other half” was spending. But when I read about the $350,000 watches being purchased, I had to take a serious moment to swallow the unkind feelings that may have surfaced. It would be interesting to learn what has changed over the past couple of years since the recent economic downturn. But definitely, the strongest conviction I walked away with was the assurance that if I found myself in possession of a large (or small) fortune, I would surely be a better rich person than most of those described in this book. "I would demonstrate the perfect combination of frivolous and sensible. Money is so wasted on the wealthy!"
Anybody recognize the quote at the end?