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Wednesday, August 23, 2023

Old Rich and New Rich Under The Microscope



Comparing two sets or groups of people ... involves identifying similarities, resemblance, sameness, kinship, and homogeneity. It also integrates the obvious differences, distinctions, contrast, and disparity. 

Just like showing the similarities between Pure to Halfie (e.g they are both Filipinos) and contrasting them (the pure has both Filipinos as parents ... while the Halfie has one parent Filipino and the other parent is from another country.)

The same thing can be done to the Old Rich and new Rich. It is quite interesting to know the similarities and differences. And to understand them better we can compare them by asking these questions:

1.  Where did they get their wealth? For the old rich their wealth is handed down and shared from one generation to another. In short, they are wealthy from the get-go. 

Whereas the new rich have their wealth only recently by a stroke of fate or stroke of luck - for example becoming a famous actor, singer, or athlete who commands millions, winning a sweepstakes, building a tech empire, discovering Yamashita's treasure on your porch, or having a marital relationship with the old rich or just being successful in your profession abroad.

2. What is their attitude towards their money? For the old rich they have the tendency to shield and shelter what they have. They are not into extravagant spending and by nature they are frugal, cautious, and prudent.  They are always on guard to protect their wealth and their legacy for future generations.

The new rich enjoy what they have as they strike the iron while it is hot and enjoy while it lasts. They don't have a saving temperament like the old rich and they can be subject to poor and malicious tips and advice from kibitzers whose only goal is to bring them down.

3.  What are their spending habits? Are they more in tune with making investments? Both enjoy a lavish lifestyle although the old rich are more stingy and more calculated when it comes to spending. Spending to them is more akin to investment or making subsidies - that are used to offset market failures to achieve greater economic efficiency. 

The new rich motto is" They work hard for the money ... so they might as well enjoy it. They consider making investments too and because they were not schooled, they often incorporate luck and gambling into their system ... they often go with risky investment schemes like those enticing ads that give cash incentives.  easy money ... double the profit double the fun attraction.

4. What are their hobbies and pastimes? The old rich go with the orthodox and the conventional ways of leisure. While most of us enjoy time hugging our askals, the old rich enjoy polo, yachting, collecting antiques, and golfing.

The new rich may enjoy more showy endeavors like collecting exotic animals (nay wild animals for an added impact) and making a portion of their house a zoo. The ringside may not be the best location when they watch Gilas Filipinas ... it has to be the courtside and if the sports commentator acknowledges their presence in TV ... that is an added bonus. The feeling will be at an all-time high.

5.  What is the public perception of them? The old rich are often perceived by onlookers as having class, well-bred, and cultured Ivy Leaguers.

The new rich perceptions are hardworking, diligent, and conscientious and people admire them for being innovative. While they don't have the handcuff to cut on their spending melee and are more free to enjoy what they earn... their rags-to-riches story may just end sooner than they think if they don't watch out.

We heard horror stories of "many are called but only a few are chosen" people who win the lotto ... and their being rich becomes just a footnote in their town's history... as they zoomed back to anonymity after squandering the good fortune given to them.  Let their sob stories be a lesson to us all.


Noveau-Riche Detector

 



There are several ways of becoming nouveau riche. One way of becoming one is by winning the lotto ... or marrying a rich DOM or MMMM (Matandang Mayaman Madaling Mamatay) ... striking oil in your orchard ... marrying a billionaire ... or just being successful in your chosen field as you seek greener pastures abroad.

In sociology, nouveau riche refers to somebody who has risen economically and socially but lacks the social skills for his new position.  He previously belonged to a lower economic bracket ... and the money he enjoyed at the moment - made him like a social butterfly as he wanted to enter the sanctum of the elites and the vieux riche. His propensity for consumption of luxuries on a lavish scale makes one jaw drop... and his showy expenditures are signals he likes to believe he is now the new member of the rich and the famous.

It is easy to spot a nouveau riche in our midst. The old riche is refined and dignified ... but the new riche - they're transitioning from the have-nots to most definitely have ... is less polished ... as if almost on the brink of vulgarity. Watch and learn.

1. They are always on the prowl to find designer brands - from clothes, shoes, and bags. Generic brands are a big no-no.

2. They namedropped a lot - they usually use names of who's who in the eliteville - politicians, celebrities, and the like.

3.  They want to look flashy and flamboyant.  Fashionable and noticeable ... but tacky and somewhat vulgar sort of way.

4. They want to be called a jet-setter and known for their traveling. They frequent Hongkong or Thailand ...

5. They always bragged about their connections - be it military or business, media or showbiz.

6. They want everything expensive and anything showy - Rolls Royce, Mercedes, and Lamborghini as status symbols.

7. Their idea of jewelry is that it has to be large, dangling with the ability to impress.

8.  They have a bevy of maids and bodyguards.

9. Branded items lord the day - Dolce and Gabbana, Louis Vitton, Gucci, Versace, Michael Kors, 

10. Their houses are a frenzied hodgepodge of expensive landscaping, some resemble a palace with Ionic columns. The house is gated and a dancing fountain is prominently placed near the giant gazebo enough to house 2 families.

All in all the nouveau riched doesn't have any appreciation and understanding of the word aesthetic. They are clueless about what is good or poor taste.  All they care about is bragging about their wealth.  

I could almost hear them saying: "To hell with those that critique our choices.  They are just envious. Whether what you see in our house is in good taste or not ... nobody can fault us if we want a swimming pool, a fountain, statues, columns or lion sculptures."


Tuesday, August 22, 2023

Money Talk With A Friend


My friend asked me about "nouveau riche". Is it something negative or positive?

Nouveau riche is a French word for people from lower strata of society who have recently become very rich and like to show this publicly by spending a lot of money. It is a term usually used in a derogatory way to people who acquired that wealth by a strike of luck they won in a lotto ... or strike a pot of gold in their backyard. They recently become wealthy ... and they spend their money in a flashy and ostentatious manner like there is no tomorrow.

My friend's follow-up question was: What brands do the new rich look for?

All branded products and designer's clothes... You name it: Rolex, Louis Vuitton, Mercedes Benz, Dolce and Gabanna, Prada, and Gucci to name a few.

What other terms can be used for nouveau riche? 

Some people call them social butterflies... others call them social climbers. As one writer put it: "They are someone who is not originally rich but brags their wealth and achievements through material possessions. Thinking that they can show people how rich they are because they can afford things that only rich people can afford. But honestly, people from the upper class particularly the old rich, find these social climbers ridiculous, lack of pedigree by being ill-mannered and displaying poor taste. These social climbers usually display loud behavior. They are also, more often than not, flaunting their wealth and are dressed in designer from head to toe. They love to publicize their every single move and conquest, and boorishly brag about their possessions."

And he continued: How does it differ from "vieux riche"?

Vieux riche or old rich as those people who have been wealthy for a long time ... they have been rich since the day they were born ... like the Sy, the Villars, the Razon and the Gokongwei's ... wealthy persons who have been there for a long time and whose fortunes are inherited. While nouveau riche becomes wealthy only recently. 

And the main difference is the way they spent their money. Nouveau riche provokes envy and admiration ... they don't have the good taste to spend their money in a classy way ... like the one person I know who has his house copied from a Castle in Disneyland. And there is another person who embossed Ionic and Corinthian columns in their facade and the paintings inside made their house look like a museum. What an ostentatious display of wealth - does it mean they are kings and queens ... my friend was almost smiling when she said that.

The old rich people are very frugal. They think hard enough before spending their money.


Multiple Choice


Sana ol! Ang sarap mag-iwan ng resibo sa ATM flaunting that you still P6 million in your balance ... tapos pinagusapan ka pa pagkatapos.  Masarap sa pakiramdam ... may malaking pera ka na ... tapos it brought about a rainbow colored emotions sa mga nakakita ng resibo - pati na ang mga nakabasa sa lahat ng multi-media platforms - jealousy, resentment, suspicion, distrust, envy and self pity (a self-absorbed unhappiness thinking na mamatay ka na lang ... there is no chance na makahawak ka perang ganoon.)

Pero hindi mo ba tinanong ang psyche ng nag-iwan ng resibo ... where he is coming from? For sure may motibo ito ... Alamin ang mga posibleng mga rason. O kitam ... sa gusto niyang mapag-usapan siya ... let us suck it to them hard.

a. The guy na nag-iwan ng resibo is "nouveau riche". It can be inferred na pinangangalandakan niya ang resibo para matuwa, magselos, mainggit ang makakita nito.

b. Nagmamayabang siya.  If you have it ... flaunt it ika nga.  Katulad ng kaibigan ko who has the temerity to count his money for everybody to see (to their delight or disgust).

c. When people flaunt their wealth they want to show everybody their status and their position in society.

d.  They want to feel better about themselves as he tries to appear very successful on social media.

e. they may enjoy the rush of positive feelings that can come from likes or comments.

f. talagang makalimutin siya.

g. it was an honest mistake.  Nagmamadali lang siguro.

h. gusto na niyang magbathroom ... sira ang kinaing pinakbet (pang mayaman ba iyon).

i. nakahalata siyang pinagmasdan siya ng kasunod niya ... kaya iniwan niya ng resibo.

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Wretired writer, Malayang Free Thinker, Probing Blogger, Disenteng Dissenter, Tempered temperamental, Liberal-Conservative, Grammar and Syntax Police, Pageant Connoisseur, Hibiscus Collector

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