Charlie Munger on Why Are People So Unhappy? | Daily Journal 2022 【YAPSS Highlight】

[@YAPSS]

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[@peterlai6503]

When you are healthy and have freedom.....you are the king of the world!

[@IusedtohaveausernameIliked]

The problem is that people trade in their freedom for comfort at the first opportunity. Comfort is overrated, it's struggle that makes us strong. And happy. Comfort makes us weak and want to seek ever more comfort.

[@alaskalograft]

​I've recently experienced a seemingly reverse envy. I'm 76 and spent 3 months on a couple of remote Alaskan rivers. 2 of those months 100% alone from humans. I did have 5 wonderful huskies though. I was in a wall tent trapline camp. Wood stove, dogsled transport, ice fishing and trapping, mostly for beaver. I'm now in Cebu visiting friends and family. The reverse envy seems to be from relativly wealthy people who can't understand how I could enjoy being out there with no TV, no internet, no news or politics or fb etc. Just me and nature. I suppose envy might be the wrong expression of the reaction. They just find it difficult to believe that I could enjoy such a life without all of the exorbitant (to me) accessories. It's actually wonderful. I felt so much closer to nature and God, (higher power, if you like) and I'm filled with gratitude. At the moment, I'm laying in bed thinking about and yearning for my return to the camp and the dogs and wild animals. I need to remind myself to stay in the moment and enjoy my life here in the Philippines, or wherever, one day at a time. One simple day.

[@peterlai6503]

@alaskalograft It's like back to basic .....where we come from then where we back to. Life is a journey

[@marleonetti7]

but even those who are healthy and free need to have a place to live and enough money for basic expenses and nowadays why is it a mystery to this old rich guy that people who are on the verge of being homeless or homeless are envious of those who have a place to live and enough food to eat ? there are people in the USA who literally cannot afford enough food for each month and have no place to live , thats the real tragedy and a homeless hungry person has every right to be unhappy . these rich men are out of touch with reality .

[@TomWilkes-z5n]

Probably one of the most precious lessons from my parents: to be comfortable in your own skin. The need for comparison never entered my head.

[@dibdap2373]

That's like saying you've never looked at another woman.

[@roronoazero814]

Bro your right , This is something which can only be resolved if it comes parents themselves , they are the only right person who can end this and start this as well , unfortunately for me its not something my parents knew

[@Travlinmo]

I love humble wisdom and humor of Charlie Munger. Rest in piece

[@willnitschke]

99 years is a good run, though.

[@JasonISF]

Peace.

[@JasonISF]

Peace.

[@robedmund9948]

I miss listening to Charlie. Dude was spot on the vast majority of the time.

[@Uaintfirsturlast]

Yea he was except about Bitcoin

[@-optimist-2697]

I tell you something about envy. I work for a company that my clients would buy me gifts here and there because I really take care of them well. I never expect them to buy me anything. My colleagues hardly ever been gifted by the clients, and they get jealous, and you know what happened. I dont know how but at the end my company has issued a policy prohibited all workers not to receive any gift from any cilents. Thats how nasty envy is.

[@JohnBeeblebrox]

Maybe you want to have a look at your local Bribery and Corruption legislation especially in the UK (and USA).

[@merlands1]

Exact same experience !

[@mozar5175]

It’s not envy, it’s about being fair to everyone in the company. The gifts you received should have been redistributed to other employees through a draw.

[@amitabhbanerji7256]

In business, the concept of no consideration, no contract works. Commercially gifts are a form of quid pro quo. Your clients give you gifts only when you are providing them with some extra benefits. Acepting personal gifts in commercial transactions amounts to bribery.

[@jeffbrassard1268]

That’s absurd, if you’ve earned it you should keep. I would leave the company and start my own business if I optimistic-2697 as they clearly have a better understanding of how to take care of customers than their colleagues and the owners of the business.

[@alm9368]

What a great truth. My mother said the same about her own childhood ("we were starving but were always happy and joking").

[@ak3ldama]

Growing up I hated patch pants. My mom won’t be patching any more of my clothes which saddens me greatly. I have learned to wear them with happiness for everything that they represent.

[@theasianjaywalker4455]

but that isn't really the thing being discussed here. What's being discussed is when you didn't have to wear patch-pants anymore (a good thing) but you were no longer in love with your new patchless pants anymore but not because they weren't great and better - but instead, because you saw most everyone else had patchless pants too and many with silkier pockets and better buttons than your patchless pants.

[@craigwillms61]

It wasn't the patches, at least not the sewn on patches, it was those damn iron-on patches that were too embarrassing to wear!!!

[@ak3ldama]

@@theasianjaywalker4455I’m referring to the to hell with the pretentious purchase. Wear the patch pants, who cares? If you don’t feel the need to impress others you can finally be comfortable with yourself. I don’t think I’m making a big stretch here.

[@theasianjaywalker4455]

@@ak3ldama but the topic isn't about trying to impress others with your money.

[@bjkarana]

Such a privilege to hear Charlie's thoughts. A brilliant mind.

[@willnitschke]

It used to be called grounded common sense.

[@MisterMonsieur]

A billionaire telling people to be happy with less while he grows richer. Yeah, "brilliant." That used to be called hypocrisy.

[@bjkarana]

@@MisterMonsieur "Waah!"

[@willnitschke]

@@MisterMonsieur He's still correct though, even if you're envious.

[@MisterMonsieur]

​@@willnitschke How does one become a billionaire WITHOUT wanting more? Why not stop at a million, a hundred million? The devil tells two truths before telling a lie. Yes, envy is not good, but Billionaires tell people to be content with less because they want defeated workers. They want people who are content with being poor. They don't fear "envy," they fear people with ambition. They fear young people harnessing technology to make more competitive companies. Boomers are the greediest generation ever. They tell us to be content with less so we let them take the rest and grow richer. Know the difference.

[@alaskalograft]

I've recently experienced a seemingly reverse envy. I'm 76 and spent 3 months on a couple of remote Alaskan rivers. 2 of those months 100% alone from humans. I did have 5 wonderful huskies though. I was in a wall tent trapline camp. Wood stove, dogsled transport, ice fishing and trapping, mostly for beaver. I'm now in Cebu visiting friends and family. The reverse envy seems to be from relativly wealthy people who can't understand how I could enjoy being out there with no TV, no internet, no news or politics or fb etc. Just me and nature. I suppose envy might be the wrong expression of the reaction. They just find it difficult to believe that I could enjoy such a life without all of the exorbitant (to me) accessories. It's actually wonderful. I felt so much closer to nature and God, (higher power, if you like) and I'm filled with gratitude. At the moment, I'm laying in bed thinking about and yearning for my return to the camp and the dogs and wild animals. I need to remind myself to stay in the moment and enjoy my life here in the Philippines, or wherever, one day at a time. One simple day.

[@JWARD3045]

Where are your dogs now?

[@tedantares2751]

People are unhappy because they constantly compare the image of their ideal self with their real self.

[@oe542]

This is me. I’ve slipped in to an unrecoverable tailspin of unhappiness.

[@howard5992]

That is an interesting thought. I think many people feel something is missing from life. Not material things as Munger says but more a sense of meaning or a sense of connection to other people. It can circle back to being content with ourselves though. It seems to me that seeking comforts and "material well being" can be driven by these intangible needs as well.

[@howard5992]

@@oe542 - the 12 step programs try to address that, where people seek to learn self-acceptance. One branch not related to addiction is *Emotions Anonymous* . I am actually an atheist but the framework is still useful. There is good material on-line, you don't need to a attend meetings. Another part of the program is learning to put more focus on other people. We can escape some of our negative thoughts by looking beyond ourselves a bit more. Breaking out of isolation is a big part of recovering from deep unhappiness. A way to do that is to offer help to others. Asking for help when we need it is important but helping others can make you have a new perspective that can be freeing or uplifting.

[@mocheen4837]

Social media makes everybody feel inferior. My coworker is always posting pictures of his lavish lifestyle online. He is heavily in debt and has zero savings. His net worth is negative $650,000. He lives like a millionaire, while others at work are frugal and have net worths of $3-5 million. We all make the same amount of money, but have different priorities.

[@greata991]

And then comparing their real self to others “reel” self 😊

[@badrinathtalwar2281]

The Greed of the "Haves," and the Envy of the "Have-nots." Very symmetrical ⚔️ 😂

[@habbadabbado5765]

Charlie Munger is a wise man with keen insight.

[@stumac869]

Was and a great loss.

[@darthstrukt]

But was completely wrong about Bitcoin.

[@habbadabbado5765]

@ Ok. How exactly do you value bitcoin or any crypto to determine when to buy or sell?

[@MisterMonsieur]

Dude was a billionaire telling people to be happy with less while he grew richer. That's hypocrisy, not wisdom.

[@stevep4131]

Nice thoughts from Mr Munger and few can disagree with them but in the bigger picture.... 1. Claims of "envy" shouldn't be used as an excuse for gross unfairness and inequality. 2. Economies don't run well if only a handful of people have spare income. 3. When one individual can have enough money to buy a government then democracy is in serious trouble.

[@kutbilukhadia2715]

Spot on . All countries with democracies are turning that way. India, USA you name it

[@bradsillasen1972]

Amen to that!

[@GrnXnham]

Like he said, there is now more "fairness" and "equality" than ever before and yet people are still unhappy. So it comes back to envy!

[@ehlava7331]

only if you are a recipient of that "more fairness and equality". From 1 out of 100 to say, 40 out of 100.... that still leaves a lot of have nots. wanting fairness and basic needs is not envy.... or if it is, then in these cases, envy is just and reasonable.

[@herbayum76]

What you describe is the logical outcome of capitalism...remember playing Monopoly as a child...everybody started with the same amount of money..the longer the play lasted the quicker people got richer and richer.. Solution is the realisation that to have a society in balance we all have to behave as adults...meaning knowing when enough is enough..and pay your taxes..only sad childish men like Trump want to be the greatest of the universe and cant stand paying taxes..go Amerixa go!!

[@miketracy9256]

THAT WAS A BRILLIANT ANALYSIS. "FREEDOM IS ANOTHER WORD FOR NOTHING ELSE TO LOSE." JANIS JOPLIN

[@LeGrandeOrange]

Kris Kristofferson

[@infxmhc]

RIP Charlie Munger. So much wisdom. ❤

[@dramitdeshmukh2661]

Great people always remain great due to their mindset and wisdom

[@thomcarr7021]

In Buddhist teachings, desire is the reason for all unhappiness. If you accept the idea that no material possessions will make you happy, you will appreciate a lot more little things that will make you happy..

[@Movieman1965]

Not everyone is interested in being like a Buddhist, but I agree with the fact that those who don't want to have material possessions are happiest.

[@craigleitizia8883]

So true

[@SuhradJ]

This is not just in Buddhism, but in most religions. In Islam, they say to control your 'nuffs' (desires). In Hinduism (origin of Buddhism) they go into a lot of detail and it's called a number of things, such as 'vasna'. The Bible mentions it too.

[@theasianjaywalker4455]

but this still isn't the topic here, the talk was about envy. For example, you are perfectly happy as a buddhist monk until your some of your fellow monks are being raised to more advanced positions and deemed in higher enlightenment. Although nothing changed for you, you become envious of what more they have.

[@thomcarr7021]

@@theasianjaywalker4455 You're wrong.

[@mike7696]

Totally agree with Charlie. If we were not so envious of what others have, and we were more thankful for basic things, the simple things like food, shelter, clothing, water, friendship, nature, and comfort in knowing God is in charge then we’d be much happier. I came into some money about 16-17 yrs ago and started spending/buying things. Wasted a lot of it, became too involved with what others thought, too concerned about image. I was happier b4 I had the money. Bought big house, expensive watches, fancy clothes, more expensive car that wasn’t needed, etc. I’ve since gotten rid of just about all of it, purged all the “junk,” the things that won’t be used anymore, are obsolete, kids won’t want/use, and it feels good. I still drive nice truck but as it’s very functional, but I drive right by bigger houses, people trying to look cool in their newer more expensive cars, etc, and don’t even look at them in the eyes. I can feel they’re puzzled as to why am not looking at them. I treat people with fairness/kindness, but don’t waste my time on those or those things that are just a show/image. Iv been there, done that, know what is just show/image, doesn’t work, zero sum game. Live minimalist life, quietly, stay off of social media and all the other garbage on screens, get outside, obey the 10 commandments. Doesn’t mean life with be easy, but will most likely be more peaceful. Wether a person knows it or not peace is what we all strive for/need deep down inside. All of us. Purge worldly things and seek God. Know God, know Peace. No God, no peace. It’s simple.

[@zodglubby]

I agree, but would you and Charlie know that if you hadn't been wealthy?

[@Elizabeth-yg2mg]

We all put our pants on the same way...

[@Uaintfirsturlast]

Bro wrote a novel but I agree with the message

[@jenny01317]

RIP Charlie. He was among of the wisest men in our lifetime

[@941books2]

It is emotional connection that people want. Money, housing, car, etc is just to have connection with people you want to be connected with.

[@droopy_911]

so true

[@sasz2107]

He is correct in his observation - people SHOULD be happy because things are better than they've ever been - we're materially much better off, we're more comfortable, people have so much freedom, and there is so much more equality than there was historically. But I think the reason is because people today don't remember those times when things weren't like that. We only remember things being the way they are now. Who alive today remembers what it was like before about 1950? Very few people. Very few people alive remember the Great Depression and World War II and what that was like. So we can't compare our current lives with that. I think the problem is people have poor relationships. People don't live near their families, or they don't get along with their family members. Or they have very few real friends. The old institutions people participated in, like marriage for one thing, but also church, or civic organizations, or clubs - people don't do these things now. The internet and cell phones made our lives easier to communicate but at the same time we're more disconnected from people now than we once were.

[@willnitschke]

Excellent points. Also I would add, the material contrast in status is more obvious today thanks to the internet, than it was in the past.

[@winnielai7455]

Such a wise man! Love Munger!

[@jwalkinit]

I wonder if some of it isn't envy, but a sense that we're getting screwed. That's hard for anyone to take.

[@willnitschke]

Then stop voting in the same politicians doing the screwing.

[@GigaChad_169]

That is envy, you're describing what he spent 5 minutes articulating. Happiness is a transitory state of being. Unhappiness (another transitory state of being) comes from not measuring up to PERCEIVED expectations of where you feel you should be in life. Envy causes unhappiness. We live in a much safer and just society than what people used to endure in the past to survive (despite the election people are upset about, no one DIED en mass and will not). Yet the standard isn't, a warlord didn't kill me and I have food to eat, yay I'm content with life. The standard is, Elon Musk has more money than me and the Instagram girl went to Bali and I didn't, I'm unhappy with MY life in comparison to theirs.

[@RookieEconomics]

@@GigaChad_169 He is not describing envy. Getting screwed is the outcome of injustice.

[@BangsarFengtao]

It is envy, accept it

[@truthsocialmedia]

The problem is a lot of people don’t have a basic level of intelligence to understand what envy even is.

[@CSUnger]

“Then I saw that all toil and all skill in work come from a man's envy of his neighbor. This also is vanity and a striving after wind.” Ecclesiastes 4:4

[@crazycool1128]

As wise as Charlie was, he neglected (or purposely left out) a dark truth about why people can't be content being less than others. It's because when others become stronger or more powerful than you, you risk being bullied and crushed. Hence, the drive to keep up with others is a necessary survival instinct baked into our genes.

[@ehlava7331]

not to mention him being in the .01% there was really no one left to envy.

[@luisberrios2454]

you are over thinking it no need to eny anyone focus on you and only you in which you can control and make your own storie. Charlie was the 1% becuz he earned it! and never ever bought stupid rolex’s like us poor people like to buy new cars c’mon on

[@DanielLy1200]

He’s very wise and speaks truth. I wonder if being so wealthy helped him to realize this. I am dealing with my own envy and it’s gotten a lot better with age.

[@Mnil52]

Same, in my 40s I've learned to let all that go, it doesn't occupy my mind anymore at all. I'm objectively doing well

[@oe542]

@@Mnil52I’m in my 40’s and it’s getting worse. Actually bordering on unhealthy. Objectively I’m doing really well. Doesn’t mean I’m happy.

[@richardhudson1243]

Coming out of facing a lot, I knew two things about the stock market: It caused the Great Depression, and the fastest way to make a million was to start with two million. Then the Great Recession happened only a few years later. Looking back, I really wish someone had explained it to me better earlier in life. Having a good entry and exit strategy is key to succeeding in the stock market.

[@winifred-k9e]

There are actually a lot of ways to make high yields in a crisis, but such trades are best done under the supervision of Financial advisor.

[@mydressmemos]

Exactly, most of the investors pays more attention to the profit aspect forgetting that the market involves ups and down. securing your financial position requires lots of patience and proper education on the market so as to know the right profitable stock to buy and invest in. I made over $260k in profits, from just the Q4 of 2021. Investing in the stock market is most profitable when you understand how the market actually works.

[@JacobsErick-u8r]

I really acknowledge your comment, i have been trading stocks for a while now but i have not been able to make much. how do you achieve this feat?

[@mydressmemos]

Her name is “ Melissa Terri Swayne” can't divulge much. Most likely, the internet should have her basic info, you can research if you like

[@LUCIASMITH-d1z]

Thank you for sharing, I must say, Melissa appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled a call.

[@Duster5000]

This is the type of wisdom we yearn to hear from our elders. Thank you Charlie Munger.

[@Kevin-sr8yx]

Happiness is in striving.

[@Bobafe77a]

Yes, striving and purpose.

[@SuhradJ]

Amen brother

[@herbayum76]

Striving to realistic goals..

[@midge1447]

Interesting perspective from someone who had more wealth and power than the entirety of humanity previous. I don’t disagree envy is bad & ultimately makes people unhappy, just find it pretentious that a multi-billionaire is talking about basic-needs with a tone of “don’t you know how good you have it!?”. Good public policy can go a long way in ensuring the envy-gap doesn’t get too big, but instead let’s make sure we all fall all over ourselves protecting the .00001%’s

[@willnitschke]

It's irrelevant who the messenger is, so long as wisdom is imparted. The unwise never figure this out. BTW, it's been public policy that has created the wealth divide to begin with. Good luck with that idea. 😅

[@KP99]

Did you miss the part where he said he grew up during the Depression? He certainly would know how good people have it today, compared to then.

[@theasianjaywalker4455]

You have this sinful spirit of envy with this very post. It shouldn't make a difference if he's a trillionaire or impoverished and instead you just let the wisdom stand (or fall) on it's own merits. You are the spirit of covetousness he describes and God told those old Jews to stay away from. Envy will consume you.

[@ПОЧИНЮКУКУХУ]

Envy keeps one poor. Not billionaire.

[@jdstarek]

Oh the Irony. I clearly hear the envious tone of one who has drank the “eat the rich” Kool-aid. I suggest you learn about the man you are criticizing. Munger was a prince of men.

[@travisbplank]

It's not envy. We lack stability, autonomy, time with our families, etc. We work brutal hours just to have a place to sleep and some food. I'm not unhappy because I don't have a Rolex. Typical rich person thinking

[@willnitschke]

If it's not envy why did you sound so envious?

[@travisbplank]

@willnitschke Sounds like you're projecting since there was nothing in the content of my comment to indicate envy.

[@willnitschke]

@@travisbplank There is nothing in your comment that didn't indicate envy. 😅🤣😂

[@MJH65378]

Travis, pretty sure every one of our ancestors from 100+ years ago would laugh at your comment. They worked harder for less and weren’t spoiled with our modern conveniences. You’re angry at the guy that owns the yacht. You’re angry at the guy that owns several vacation homes. Charlie is just saying that you should focus less on what the other guy has and instead be grateful for the cushy life you live. God forbid you have to work long hours and contribute to society.

[@travisbplank]

@MJH65378 All I want is shelter and food. I don't care for baubles and other status displays. I don't even really care for travel, and I cook my own food. If people want these things, I don't have any ill will for them, other than I wish that they'd use their privilege and power to help humanity and society, but there's no great crime in pursuing one's own pleasure that doesn't harm anyone. I DO take umbrage with a system that allocates wealth to people who do harm to other people, the environment, and society as large. I dislike that there are people who profit from merely owning things and exploiting people who don't. I dislike oligarchy and artificial capitalist aristocracy that dissociates wealth accumulation from labor and value creation. I definitely dislike a system that incentivizes restricting the production of goods to protect profits, a system that would rather throw away food than feed the hungry so that profit margins may continue to rise. I am not envious of the people who do these things, I think that these conditions and these actions should not be allowed to exist. Most of all, though, I hate the culture that brainwashes people so heavily with individualism and greed that their only response to any criticism of those in power is "durr, you must be jealous of their stuff". Not everyone thinks like a petty dictator, enraged by their own inability to conquer the world. Nice projection, though.

[@j2times2006]

With all due respect to the guy I think a lot of people are unhappy because they can barely survive in today's modern economy much less improve. They work multiple jobs just to make ends meet. Time they should be spending for themselves or with their family is now spent working an extra job because they have to. In the meantime they see those with wealth take more and more for themselves with no thought of the others who make society run. That's why many people are unhappy.

[@willnitschke]

Wealthy people are not making you poor. Your government is doing that to you.

[@MisterMonsieur]

@@willnitschke As if "the government" isn't a plutocracy ran by billionaires. As if "the government" doesn't offer every benefit to the wealthy while keeping everyone else poor. Warren Buffet said it himself, he pays less in taxes than his secretary. Buffet said it himself!

[@Autojones]

" The secret of success is not the absence of failure, but the absence of envy." ~ Herodotus. " Comparison is the thief of joy." ~ Theodore Roosevelt.

[@alvinkusnanto6816]

Comparison is the thief of joy!🙃🙂

[@robedmund9948]

YES it is!!

[@jaysonp9426]

Dumb. Some people are unhappy because of envy. Most people are unhappy because they are slaves to a job that barely pays a living wage.

[@frankyu6984]

Hundreds of millions of people from developing countries would be grateful for the lifestyle that supposed non-living wage provides.

[@Elizabeth-yg2mg]

Charlie is right.

[@Sussex_Seagull]

is it too much to expect to earn enough to rent a home, heat in winter and have enough to eat? It's no longer envy, it's survival.

[@willnitschke]

The problem is who you vote for has consequences. Yet people, maybe you're one of them, keep voting in the politicians who have done this to you.

[@j2times2006]

It doesn't matter who you vote for when the system is rigged against you. Both parties are beholden to orginization with loads of money who all want their favors no matter who is elected. The average working man has no such clout. George Carlin said it's the illusion of choice. Two political parties but 23 bagel flavors in this country. ​@@willnitschke

[@willnitschke]

@@j2times2006 The reason why you're confused into thinking you only have two options when voting, is why there is a problem to begin with. You, and too many like you, let yourself be played. Then complain about getting played. 🤣

[@josephroth8761]

Charlie Munger. Many Thanks for speaking up about envy and you are right. No matter how much people have they always want more. This reminds me of the Hans Christian Andersen story of the forester his wife and a tree. This story is exactly what you are talking about.

[@yuurishibuya4797]

Best advice for 21st century folks.

[@paulc858]

RIP Mr. Munger. Listening to a wise man is always a gift of life lesson learned.

[@Snaproll47518]

Spot on, Mr. Munger!

[@koen1966]

Charles Munger was one of the most smart and humble people that ever lived. I love hearing his thoughts about the world.

[@johnfloryan8535]

I’ll tell you Charlie, happiness is not things!

[@daveycrocker4466]

Easy to say when you’re in your 90’s and have had everything there is and then some. Now ask a poor person in there 40’s working in a sweat shop.

[@ericdoheny9108]

Time and access and good food and shelter are THINGS lmao

[@husamabed6527]

Charlie is an icon, rest in peace!

[@Longlostpuss]

What people is he referring to? Need to be specific, as there are socio-economic rungs. Most people are broke, it's not about envying the next person, it's about why they're working over 40 hours a week to make corporations loads of profits and barely see enough after taxes and expenses to make ends meet. That's before talking about time lost. Those are considered the lucky ones now too. The problem has always been greed, not envy. The middle classes are probably looking above them with a bit of envy as they strive to improve, but even the middle class are worst off than they were a decade ago. The middle classes are being phased out, so basically most people are pretty much poor or close to now. Greed always the problem.

[@willnitschke]

No the problem is envy. When some nitwit babbles about "greed" he typically means he wants other people's money, and he is angry they won't just hand it over to him. How dare I have to work for a living! Mummy told me I was special!

[@Longlostpuss]

@@willnitschke Not really, these guys sat in their champagne philosophers chairs are just executing the most beautiful case of economic gaslighting you'll ever see. Just the top 1% making the 99% believe they're actually envious instead of effed over like they have been since, well, forever. The whole system is dodgy by design and now it's got to a point where they're basically telling everyone that it's their problem because........famines and no technology all those years ago, they've never had it so good. Don't even get me started with the hypocrisy of the supposed Climate Crisis and over-consumption being the cause of it - yet the poorest consume the least by virtue of having less, but they're told they're the ones who need to tone everything they're doing down. But nah, it's not greed, 1% of all the world's wealth in the hands of just a few is definitely altruistic, it's for everybody's good......apparently. Please 🙄

[@Longlostpuss]

@@willnitschke KZbin deleted my original response for some unknown reason, but you are wrong, purely by virtue of how disproportionate the distribution of wealth is, it's like 10:90. There's about 8 billion people on the planet, so that ratio is not a coincidence! Nor is it anything but disingenuous to suggest that 90% of the entire population of 8 billion people ALL have an envy problem! The wealth distribution has always been stupendously disproportionate going back to medieval times (probably even earlier) but the middle classes at least were able to make ends meet. The fact they are slowly being squeezed out when things are supposed to be easier now, is showing you that there is something very wrong with the system. It's ALWAYS greed.

[@robertross8565]

Very profound observations about humans in today's world. He hit the nail on the head about ENVY rather than GREED.

[@fraudsarentfriends4717]

I don't envy junk, quality control has gone way down. I envy the times in the past

[@micker9830]

There aren't any real POOR people anymore. No one is starving or left out in the cold. The homeless people who you see on the streets, are there because of drug and alcohol abuse and some from mental illness. Not because they can't work or have no money. Everyone is jealous of everyone else. If you want people to like you, be humble. Do you like people more. who are humble and can laugh at themselves or people who drive a Ferrari and $1M gold chains? Life's currency is friends and family, the more you have of those, the richer you really are. We are usually happiest when you are young and broke, not old and rich.

[@willnitschke]

Well, that's all correct. But maybe a better way to put it is that poor people exist not for economic reasons, but primarily because of mental health issues.

[@peterbedford2610]

Healthcare is very expensive in the US and insurers like UHC deny 32% of claims. Yes, people do envy those with the ability to get medical treatment to keep living....

[@AE-pv9vc]

When the government decided to use subsidies and force these regulations that became unaffordable to the few, competition packed up and left while existing insurers jacked up their prices no longer having that competition. My Healthcare pre-obama was $312 for son's birth. Last year we paid 10x that for our most recent. Yep, this was the govt's doing. Comparatively, all the references to other socialized medicine countries are going through the ringer in inflation and economy, as well.

[@willnitschke]

One way you can help to fix that is to stop voting in the same sort of politicians who created that mess for you.

[@TheBryanmauro]

@@willnitschke Agree, thank god the establishment corporate democrats that did nothing are out. At least the working class has a start with Trump even if he has money his narcissist pride will force him to deliver.

[@willnitschke]

@@TheBryanmauro I suspect he is genuine and will do his best. This doesn't mean he will succeed.

[@NelsonFerguson-v7f]

See their CEO story for more details . Deny, delay and defend got him smoked.. 🔥

[@Slothsnail]

Why most people are unhappy, is because housing was turned into an asset class. Gone are the days of a home at an earlier age, community, setting roots, career, family, life. Most are in a rent trap. Then those who can barely afford a home, get pushed out again because property tax goes through the roof. Corporate monopolies and wealthy families. It is greed. Not envy. This answer is so far removed the reality of the real situation. Not even going to touch how working has become suffocating, poor healthcare, wages stay stagnant, etc. etc. list goes on and on. Fundamental issues.

[@fabio.1]

I agree with you

[@Terrranfear]

My state has near low housing inventories. Accelerated by Covid of course. But a downward trend since 2016. I've heard this narrative of big money corporate interests squeezing the housing supply. In some areas certainly but for the rest of the country it's the fact that we're not building enough. When you look at housing starts / population we've had negative trend since the 1970s ... then we absolutely fell off a cliff after the 08 crash. It's been very challenging to build new housing in large part due to zoning and permitting. It's a bi-partisan issue which is that old incumbents do not want to zone new housing. They sit on their nest egg and let it increase in value at the cost of everyone else. Nobody wants to fix it. So the only thing you can do it try to get ahead of it by moving out even further into and hope your house is on the path of development.

[@twistedspine7300]

while you make some good points, you completely missed his and are proving him right. you sound very ungrateful for what you do have. the world is driven by both greed and envy.

[@willnitschke]

It's curious that people always assume they're living thorough the toughest time in history. When I left school last century, the average mortgage was 13%. Yes, housing was cheaper but income was a lot less and everything else was more expensive relative to income.

[@bigbountybar1]

And it's getting worse , normal , work harder and beat it

[@oneeleven9832]

I did well retired at 46 got the McLaren, house etc etc…you know the one thing that gives me most joy..riding my bicycle & it’s the one thing I’d keep if i could only have one thing..

[@Discovery2024-rn8kn]

Ride nekked on your bike if you want to experience true freedom, the cold breeze against the pickled and berries to be experienced at least once

[@Movieman1965]

I love my bicycles.

[@stevew7308]

That's a pretty fancy watch there fella.

[@willnitschke]

Yeah I got one on Temu that was even bigger!!! 😅

[@protectanimals9792]

Politicians thrive and divide and conquer by using envy, blame, fear.

[@andrewDavid-rn6he]

If this were true Charlie would be farmer not an investment banker.

[@willnitschke]

He was not an "investment banker" either. 😅

[@regmtait100]

We can make ourselves wealthier by valuing better the things we already have. (Rory Sutherland quote)

[@jimparsons6803]

A funny fellow with sage advice. I heard that he past recently, his voice will be missed.

[@samzach2057]

Very true!!

[@MisterMonsieur]

4:10 -- *"Who needs a Rolex so you can get mugged for it," says the billionaire with a HUGE WATCH on his wrist.* 🙄

[@georgegherghinescu]

Was about to comment on the same thing, looks like he has a gold Rolex Daytona on his wrist, what is that like 40-60k on grey market cause you can't buy that from Rolex unless you have a history with them and bought many watches from them. But what he sais seems to stand.

[@MisterMonsieur]

@@georgegherghinescu No, they say "don't envy others," but what they mean is "don't try to get wealthy like me; be happy being poor and go back to work." Young people are more ambitious than ever; they don't want to work in factories, they want to be like the rich and live off dividends. Young people are exposing the ways of the rich and it scares them, so they call our ambition "envy" to discourage us.

[@willnitschke]

@@MisterMonsieur Yeah, that must be the reason! It will be exposed that this guy pays billions in taxes each year to support his community! Oh the humanity! 😂

[@zsoltpapp3363]

Maybe it was a gift from a loved one, or a client and has emotional value for him. He speaks the truth, and he is not alone. You can test it on yourself. When you buy your next shiny phone or your next car, it surely makes you happy for a couple of days or weeks, and than it becomes normal. You will start to chase the next thing, but its empty and this urge never ends. On the other hand, this is what fuels capitalism, and capitalism brought wealth into the world even for the poor yet they dont notice it and feel no gratitude. Its in the Bible so there is nothing new about this.

[@willnitschke]

@@zsoltpapp3363 Sorry, you're very confused. What you're doing here is blaming Capitalism for some people who have a lack of gratitude in life. I personally am very appreciative of all the material things I have in life, but that is only part of what I am appreciative of.

[@emikke]

Envy is the driving force in Europe. That's why we have Socialism here

[@odyth]

Socialism is why you have no innovation.

[@root123]

Tell that to a Cuban

[@stevep4131]

And an affordable health system in Europe. Compare that with the good'ol USA.

[@robertBrinker-h7m]

comparing is the thief of happiness

[@samryan7954]

Yup. Charlie's right.

[@vooteimer1234]

Envy is always way worse than greed.

[@mjmoran1103]

I don't think it's envy when you struggle to pay bills with an average salary in the first world, for example. That's just bad economics. A living wage isn't a living wage for many anymore. There's your unhappiness.

[@MisterMonsieur]

Amen. The message from the wealthy is clear: "be happy being poor." Elon, Munger, Buffet, so many are telling us the same. Why?

[@mjmoran1103]

@@MisterMonsieur To keep a lid on things? Kind of a gaslighting really.

[@MisterMonsieur]

@@mjmoran1103 Exactly. They all want to pull the ladder up behind them. Young people aren't content working for pennies. They know young people today are more ambitious, so they try to shame them into conformity by calling their ambition "envy." They don't want ambitious people, they want defeated wage workers. Don't let them win!

[@MisterMonsieur]

@@mjmoran1103 Exactly. They don't want ambitious people, they want defeated wage workers. They call anyone with ambition "envious" to shame them in compliance and defeat. The wealthy don't want anyone competing with them for resources.

[@willnitschke]

@@MisterMonsieur Ambitious people are "envious". 😅🤣😂 Does your mummy know you've got access to her computer?

[@jacosta576]

greed is the problem, because greedy people make most of the money exploiting the back of those in need, i being there and that's a fact, of course they don't say otherwise..

[@willnitschke]

Nope, it's envy, not greed. People working hard to create useful goods and services for your community, is not 'greed'. It's being responsible. And when someone becomes successful, well, that didn't make you poorer. You being a loser, made you poorer.

[@jacosta576]

i been there my friend, so there no excuse just open your heart and your soul will have peace , go outside this country and your heart will change for ever.

[@VinayakaHalemane]

Things have gotten better no doubt, but as things got better some of the people took too much of the better for themselves and made themselves much more better off than they need to be and left the rest with less better to share amongst themselves.

[@willnitschke]

Wealth is not a zero sum game. Somebody didn't get poorer because someone else did better than you.

[@stanleymcvay9283]

It's not envy. It's lack of empathy. People just want to press each other down. Too many focus on the job instead of opportunity.

[@willnitschke]

Nope, it's clearly envy. Read all the angry comments here. 🤣

[@bbk452]

What model is his watch?

[@nynphose]

seiko why?

[@bbk452]

@@nynphose Thank you. I wanted to check if what he was saying about the expensive watch in the video allign with his actual lifestyle.

[@willnitschke]

@@bbk452 You can be envious of many more things besides money. People who only think of money and take everything else for granted, have a hard time wrapping their minds around that.

[@richardadams6988]

Now, companies, corporations, and government want what I have. My accumulated wealth . What's left of it ,and I still have to pay taxes when I die !!!!!

[@willnitschke]

Everyone may want what you got, but only the government has the power to force it from you.

[@richardadams6988]

@willnitschke They sure do !! At will !!

[@richardadams6988]

@willnitschke and corporations and companies can take what they want also !! Trust me.....

[@willnitschke]

@@richardadams6988 Why would I trust you given you're obviously wrong? I think iPhones are over priced, so I don't buy them. Apple has yet to take my money by force. 😂

[@richardadams6988]

@willnitschke And what am I wrong about, I like to know?

[@michaelcalles1124]

TRUTH!!!

[@bdcochran01]

1. Yes. 2. I have a watch collection. Have purchased 4 in the last year. Total expenditure - $340. One of them cost $15. I wanted a Bulova corporate watch for 40 years and bought it $80. I used to collect old field watches that cost about $25 and would fix them. I could buy several Rolex watches if I wanted. Not necessary to do so for my enjoyment.

[@georgelane9738]

Rolexes do generally hold their value. That is the only reason to buy one.

[@Prodrive1]

A watches purpose is to show the wearer the time. Simple as that really. I buy watches worth circa 30 euro.

[@ericdoheny9108]

Inflation is crushing people and they rent their time for money only to return that money to asset owners via rent, insurance and food. We’re talking Starbucks vs Folgers, Charlie. Not whether or not to buy a Rolex 🤦‍♂️

[@willnitschke]

So you're not enjoying your free trial of Socialism...? I'd hazard a guess you weren't protesting in the streets over the lock-downs and the government switching the economy off. You were probably all for it right? Now people will be paying the piper for many years over that.

[@Masamune-fs4qt]

People are unhappy because they constantly compare themselves and look far too much into other peoples lives than their own. Mind your own business and stop caring about other peoples accolades and accomplishments. They are meaningless when it comes to your own happiness. Grow yourself first then you can benefit others.

[@nickweiler3693]

I think he's not wrong but I also think it's easy to conquer envy when you're rich as fuck. He seems to think people are suffering because of the desire for more nice things. Again, true, but there's a lot of suffering for real reasons like lack of healthcare.

[@bdcochran01]

In my state, a person can go to a designated "emergency hospital" and receive treatment whether or not they have insurance or money. Federal law requires you to have medical coverage. If you live in my state, you can sign up for medi-cal insurance and pay no premium. Yes, it used to be that no having healthcare insurance meant real problems. I have an HMO and made a routine appointment . . . 3 months from now at 7:15 am . . . and everyone has a problem getting getting an appointment. If you don't ask and research, any one will miss out on things in life.

[@spacelinx]

I’m sure a lot of people really do live by envy, but plenty of people are unhappy because even what they make is often not enough to afford basic living. When you see these corporations doing whatever it takes to boost their stock prices, make millions at the top, while you, the worker, barely get anything, and could be laid off tomorrow so the people at the top can make even more money, it’s hard not to feel upset and nihilistic about life. This goes beyond just plain envy or greed.

[@PeterJurasek]

true, so true

[@Dioc61]

110%

[@assallove1010]

What about poison on our soil and pollutions, corruption, Famine, war, poverty. We lost each other with social media and people want greed , and don’t care about anyone except themselves. I liked the old times without internet.

[@willnitschke]

What about it?

[@oligarchy-usa]

When you need $120K/year to afford the median price house in the USA today, yet the median individual income is half that amount - well you have a problem. It's easy to see why people are unhappy. They can't afford housing, transportation, healthcare, retirement etc. even while earning the median income. Greed, corruption & predatory behavior has been allowed to run amok for the last 40-50 years, because corporations & big-money interests own & control our government. Not sure what that has to do with envy. It's just the simple reality of unchecked abuse of power.

[@djrg7921]

He is coming from a place of owning BILLIONS of $$ ... its like a person that's just had a FEAST, telling those with basic hunger to shut the f up

[@GregoryVincent-d9u]

Yes, envy is a problem. But greed is a problem too. The three richest people in America own as much as the entire lower half of US society, which is over 150 million people. And the richest people want even more. The rest of us are astounded by that kind of greed. I am not envious of those with phenomenal wealth. I wouldn't want it - and if I had it I would have to give it away.

[@willnitschke]

That's not greed. Elon Musk's businesses employ 110,000 people alone. If those people didn't exist, where would there be jobs for people? How many more are dependent on the income those businesses generate for their pension funds, retirements, etc? I suppose you could take their money and give it to the government to piss away, or they could have pissed it away themselves, but how is that a better outcome?

[@MisterMonsieur]

@@willnitschke So what? FedEx employs over 500k, and the USPS employs over 600k. What's the point? Local small businesses, collectively, employ more people than all of the Fortune 500. Why was a billionaire not happy with a $100 million? What drove them to want $1 billion? Is that not greed? Envy? Lust for power? It's kinda rich hearing a billionare telling the world to be happy being poor.

[@bluenetmarketing]

Amen.

[@robertnavas4826]

I'm retired at 47, This video here reminds me of my transformation from a nobody to having over 65,000 biweekly profit, a honest partner and a good daughter full of love ❤

[@AnthonyGregory-u1q]

I can still remember the exact feeling on my biggest payday in the market. Imagine taking home $407k just from 12k initial deposit. For the newbies I'll encourage anyone to embrace copytrade as the best approach especially when you're a newbie

[@spacelinx]

Cool story bro

[@julianl7937]

Stop it, you're making me envious

[@SKF358]

Fake

[@American_Energy]

@@julianl7937😂

[@EarlLedden]

It is a little easier to conquer envy when you're sitting on $2+ Billion (!). Conquering envy is a little tougher when you can't get over the hurdle of need. I agree with Charlie though, the definition of "need" is far different now than it was in the past, and we should appreciate how far we've come.

[@willnitschke]

Weird though, I'm not worth $2 billion, and I'm not envious of other people's success.

[@oe542]

There’s a lot to be said for that but in the end I think we’d be surprised to find out that it isn’t the physical money that makes us content. Happiness makes us content and happiness is found in self-worth. Self-worth can come in any shape and size. It comes from going through your daily life in a manner that you like. Loving your life basically…. I think a lot of the famous rich people don’t find their love of life from getting money. They find their love of life in the pursuit and execution of things that happen to make them money. They are driven to achieve. If physical money was what they were trying to get then why not retirement for them? The pursuit of achievement doesn’t have to have money as its outcome. My grandfather was a small dairy farmer until the day he died. He wasn’t in to sports, he wasn’t in to fishing, he wasn’t in to drinking or chasing pretty women. He was in to dairy farming and he loved it, which ultimately he loved his life. He woke up at 4:30 am, 7 days a week for 88 years and he loved every minute of it. He was content with his life the way it was. I wish I felt like that……

[@MisterMonsieur]

@@willnitschke Here you are again, glazing on Munger. 🙄

[@willnitschke]

@@MisterMonsieur What because I'm not into your pathetic envy thing you got happening in your head? 😅

[@MisterMonsieur]

@@willnitschke What do I envy again? A billionaire telling folks to be happy being broke shows how out of touch Munger was with the real world. Literally "let them eat cake" levels of ignorance.

[@withloveitzell5092]

Amazing speech. Hero

[@richardadams6988]

I don't care what other people have !! I just want to keep what.... l have..After paying taxes ,insurance and high prices consumers goods ,not to much left !!! It seems I'm paying to make other people more wealthy!!!! Hahaha

[@paulskopic5844]

Charlie is spot on.

[@TheKikkomaster]

I have a good job. I have 2 cars (not new), and i live in a nice rental house. No complaints. But what made me the most happy is when had a wonderful girlfriend who i loved with all my heart. I loved that i had someone who i could share and face the good and the bad things life brought upon us...nothing felt impossible or overly hard. Being with someone gives you so much courage, purpose and energy that nothing compares to it...not even close. Now that im single again, life feels more empty, i envy the couples (also my parents) that stick together and love and respect eachother till the very end. That is something no amount of money can get. I also know some people can be really happy just living by themselves, and great, good for them.

[@Movieman1965]

You'll find a great girlfriend again. Keep going. ✌️

[@NelsonFerguson-v7f]

Try dating sites. Plenty of fish in the sea..

[@davidkirksey8521]

The working class lifestyle and ability to get ahead is not as good as it was in the past few decades.

[@MisterMonsieur]

No, it is not. We live in a constant Boom/Bust economy now. Long-term growth isn't possible.

[@willv88]

There's no fix of society, but one thing that's not talked about is how to fix it for yourself. We're all impacted by our surroundings, so move somewhere where your surroundings are tougher - that way appreciation comes from within instead of just trying to memorize "do not envy".

[@Shogun-qs6sv]

People might be so unhappy as now with the instagram, internet and video from cell phones they can see how others live and they want it.

[@CaryWhite-z7o]

Hilarious, richest man in the world has overcome envy

[@willnitschke]

It's sad that people are so small minded they can only think about money. You can be envious of someone's health, physical beauty, youth, relationships, or even that someone else's parents are alive. So sad so many have such empty lives.

[@TheTW11]

He is absolutely correct. But don't confuse aspiration for envy. if you envy what others have then of course you will never be happy - there are 8 billion people on this planet and sure as hell, lots of them will have more than you ever will. But don't give up on aspiration. Never give up on studying and working hard and trying to improve your life and that of your family. There is nothing wrong in this. And when you achieve your goals, celebrate it. it's fine. You plow your own field. But don't be envying others.

[@willnitschke]

Congrats. The only non-stupid comment I read on utube today. 👏

[@trumpetpunk42]

I realize he's providing context and setting the stage, but 2:37 is where he gets to the point.

[@DominiqueCurtis-p8i]

To be healthy in your later years takes a LOT of money. Geriatric doctors are great. They can keep one going and having a life without pain, without loss energy, and keeping a sharp mind. A great dentist is necessary from childhood on to your later years. I am 82 yrs, and speak from experience.

[@willnitschke]

No, it doesn't. 😅🤣😂 Doctors don't do shit, really. You stay healthy in your later years by being born from the right parents, and doing a lot of healthy sensible things your entire life.

[@DominiqueCurtis-p8i]

@willnitschke I am sorry you have had a bad experience with doctors. Perhaps you have an inherited trait that is causing you so much distress. If you possibly can find a geriatric doctor in your area at least get a consultation. I am so very sorry you are in pain. Please try. Wishing you better days and easier nights. Happy New Year. Love from me!!

[@atari7001]

When you work less you have more time to think about yourself. Self concern is directly correlated to misery.

[@zsoltpapp3363]

underrated comment and an excellent point

[@clark7894]

Charlie Munger is very wise

[@knine1652]

I really anticipated the answer, then it just kind of fizzled out.

[@MisterMonsieur]

The answer is "be happy with less" and "eat the bug sandwiches." What else from a billionaire? "Be happy being poor. Don't compete with us."

[@musyclover]

Charlie Munger calling Crypto Sheet is what made me buy

[@leosmith105]

Very wise.

[@Notrocketscience101]

I remember 1980 very well. I'm definitely more content now than then. I hated my job with a passion but felt locked into it since I was making $35 an hour (adjusted) in my 20's. I could have made more and enjoyed the work if I started my own business. I did quite in 1991 and started working for myself. Funny, I'd still do that original job if I could work when I felt like it. It was knowing I had to be there 40 hours a week whether I wanted to be or not.