Airport lounges, private rays and rich millennials – a wealth of common sense

Some people say that this country has never been polarized again.

We can’t agree anymore. Everything is a part -time issue.

Perhaps that is true, but the only thing that can bring us all together is our new national pastime – complaining. We Love To complain about almost everything.

Traveling is something that everyone complains.

I love Italy, but it is just soooo overflow now in the summer!

I have heard this complaint in various forms for the past 3-4 years. Tough life.

Here is a story by The New York Times about something that many travelers have complained about in recent years:

Here is the explanation:

There have never been airport lounges again. Yet there also never seemed to be lounges that are not worth the hassle. Many are abandoned. Many others are crowded; Sometimes the lines for the lounges are the longest at the airport. Yet we all still fight to come in. Many of us will choose to go too much in credit card costs or to focus on one airline to get access to these spaces, because we still believe that they offer a tasting of luxury in the midst of the stress of travel.

Credit card companies must offer benefits to tempt people to pay the ridiculous annual costs they charge. An advantage that much now offers is access to airport lounges.

So these lounges are now always packaged. I flew last month and there was a line around the terminal to get to the Delta Lounge.¹ It seems that there is a Yogi Berra quotation that here is useful somewhere.

If airport lounges are no longer only available for the elite class, private -Jets are certainly. It is estimated that normal private ray use is reserved for the top 0.1% of the population in America.

The Wall Street Journal Has a new piece about how flying private the new marker of extreme wealth is in this country:

Just consider how luxurious this should feel:

It does not only avoid the line of security or the Hi Polloi. Flying private means exchange cookies from Biscoff for freshly baked and picking lunch from shrimp cocktail or filet mignon from menus that include a dozen pages. Chef Nobu Matsuhisa has made a menu for Vistajet with Miso -Oil. Some hutgastheren are trained to give travelers facial treatments 40,000 feet above the ground – with the line of luxury skin care of Dr. Barbara Sturm.

Private jet travelers have nothing to complain about.

They don’t have to worry about busy Amex lounges. No long lines to wait in. There are no Starbucks -Kwiken to worry. No people who sleep on the floor or get drunk at 7 in the morning. Nobody talks excessively loudly on their loudspeakerphones next to you at the gate.

Must be nice.

Well, even the private jets experience more volume:

Kevin Hooks, 63, a Flexjet customer and veteran foiler, said that he spends around $ 800,000 every year crossing the southwest in a Praetor 600 medium -sized business jet with place of 9. He has noticed aircraft hangs around the country more pressure since the pandemic.

It helps that the ranks of the ultrawalthy continue to grow:

Talk about Stiermarkt topics.

There is another story of this The Wall Street Journal That would seem impossible in the aftermath of the big recession:

Millennials were far behind the 2008 crash, but now look at us:

Paul Rudd has this:

And that data is from 2022, so Millennials are in an even better place now that shares, house prices and incomes have all been used up since then.

For some scars, the scars are still deeply of the financial crisis. This comes from the WSJ story:

Millennials come in midlife richer than she or someone else expected. Many of them fear that it will not take.

Mike Tonkinson ended the law study towards the end of the 2007-09 recession and spent several fearful months without a salary after the start date of his new job was pushed back. The unemployment and preventments he saw in those years have since chased him.

“You only have to view and go ‘The Big Short’ once,” Oh, my God, “said Tonkinson, referring to the film about the financial crisis of the era. “It just makes you jumpy.”

The 45-year-old lawyer in Boulder, Colo., Today is a homeowner with sufficient pension savings, but is concerned that his wealth could suddenly disappear. He keeps an emergency fund that could cover his expenses for years.

Thank you very much Michael Lewis.

I actually see all these complaints as a sign of progress in this country. We are the richest nation that this world has ever seen and we still find things to complain about.

Don’t get me wrong. There are still many problems in the world and that will always be. Things will never be perfect. This mentality is not for everyone.

But rich people who complain about the problems that come there are too many rich people are something that will never grow old for me.

That is how you know that you are on a bull market. You have to enjoy these things as long as they take it, because the music will stop at some point.

Just not yet …

Michael and I spoke about complaints, millennial wealth, travel and more about this week’s video of Animal Spirits:



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¹I have all the required credit cards, but I still have never put a foot in an airport lounge in my life. Maybe it’s because where I live, we have a regional airport that has none. I am such a flyover statesman that I will never know what it is like to be an elitist.