Money Ain’t Half What It Used To Be

Money Money Money…

According to the Levine Report: 

45 PERCENT OF WORLD’S WEALTH DESTROYED: Blackstone CEO: Private equity company Blackstone Group LP (BX.N: Quote, Profile, Research, Stock Buzz) CEO Stephen Schwarzman said on Tuesday that up to 45 percent of the world’s wealth has been destroyed by the global credit crisis. “Between 40 and 45 percent of the world’s wealth has been destroyed in little less than a year and a half,” Schwarzman told an audience at the Japan Society. “This is absolutely unprecedented in our lifetime.”

NOW I don’t feel so bad about giving away so much to charity. I have helped a dozen kids get cleft palate surgery, seeded micro funding on three continents, contributed to rain forest purchase through preservation, given to Servicemen’s Legal Defense Network, Union of Concerned Scientists and many other causes.  Now, money well spent and not lost in a 401K or stocks.

I also spent my money on travel, to visit friends and family, to see a familiar face and hear a known and loved voice speak out in person, not over skype. Great joy has come of this. My carbon footprint has been offset many times over. I fly coach and drive a hybrid, have for years. (Finally, paid for!).

Am I lauding myself here? Perhaps. All I know is my rich rich friends have lost much of their fortune. Nancy Silverton lost five million, almost all her wealth. Others are being mum, but it’s lots: even mega mansions are a third of their value. Wish they’d handed me a fat check for a million for being fabulous a year ago. I’d split it with them now. 70-30 my favor.  Still a deal!

My Roth IRA is down twelve bucks. I’ll live.

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