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Massive Wealth Destruction. An Oxymoron.

wealth-destructionI don’t know about you, but that sounds like an oxymoron to me. What is “wealth”? Health? Happiness? Large portfolios? The 5 Cs in great abundance?

If you have great wealth and you think that your wealth can be destroyed, you are a very poor man. True wealth cannot be destroyed. What is destroyed, what is taken away, what is temporary, are the side benefits of true wealth. Even looking at those side benefits, true wealth lies in what you actually own and the assets you happen to have are producing assets. In that sense, the structure in which you happen to make your habitual abode is not part of your wealth, it is a necessity unless you are able to do without it. If you have fruit trees producing fruit that people will buy, you have a producing asset. If you have land and/ or buildings which have been fully paid for and you are able to rent them out, you have a producing asset. If you own a vehicle that is fully paid for and there are people who pay you in order to use that vehicle, you have a producing asset if your sunken cost has been covered by the amount people have paid you for the usage of that vehicle. Your assets are producing assets if, in the event they are taken away from you or suddenly destroyed in some way, you do not have to fork out money to pay for installments and the like.

I am talking about something more than that. I am talking about whether you are at peace with yourself. I am talking about the quality of your relationships. I am talking about whether there are people who will mourn your demise but remember you with gratitude in their hearts. I am talking about whether your business operations have created wealth wherever you operate instead of exploiting the “cheap labour” and  depleting the “natural resources” where you have been.

Do you fear the coming “Massive Wealth Destruction”? It won’t just happen in America, its effects will be global. If you do, time to take stock. Tell me what you think!

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