A new study suggests that money actually does buy happiness

Call in the quacks! The shrink. The counselor. Get the voodoo man on the line. The Rogue Economist is going soft and mushy… analyzing his own feelings and motivations… his own relationship with money.

It begins with a note from a dear reader:

 

“What a pile of garbage. There is no correlation between happiness and money. None.”

 

Oh yeah?

Half the world works just to survive. But the other half works to get ahead. It aims to get richer. Why so much effort if there is no connection – none at all – to happiness?

And why are so many people investing their money, if not in the hope that it will be fructified… making them wealthier?

On Thursday, neither the Dow nor the price of gold budged. You can interpret that any way you want. There was no follow through on Wednesday’s big drop in stock prices. But there was no rebound either. Mr. Market, are you listening? We await further instructions [Mr. Market delivered instruction on Friday, ed.].

 

prozac instead of a raiseA new study suggests that money actually does buy happiness (there’s a study for everything …)

More Money, More Honey?

Meanwhile, we have been making the case that the link between money and happiness isn’t as straight and sure as: More Money = More Happiness. And it can be the other way around: More Money = Less Happiness.

There are three key decisions you make in life; having money doesn’t keep you from botching them up. In fact, money can make the wrong choice more readily available to you. Neither high-toned hookers nor highly paid stock brokers make their calls in poor neighborhoods.

We grew up poor … but not unhappy. We took from our childhood that happiness was independent of wealth. We drew our happiness from the home and the family. vAnd with this base of our contentment secure, we could go out into the world and face whatever challenges and hardships might come our way… confident that no matter what happened, our happiness was safe at home.

We began this series with an insight: If you want to get rich, you had better learn to like poverty first. A man who measures his worth in material success may not be able to bear the risk of failure. In our case, we were largely indifferent to it. Money didn’t really matter much. So we could afford to take chances.

After law school, instead of taking the safe route – billing clients for nasty divorces or slick tax schemes – we started a business.

 

happiness

 

The Only Sure Route to Success

No matter what you do, it is hard to put your hands on serious money. When you come of age, someone else already owns all of the money in the world. Its custodians and guardians will not turn it over to you readily.

Starting out, you won’t know what you have to do to make your business succeed. Most likely your business will fail; you don’t want to take it too hard. Instead, you want to take advantage of it. Since you can’t know in advance what will succeed, eliminating failures is the only sure route to success.

The challenge is to fail early and often enough so you still have your nerve and your wits when you finally stumble onto something that works. Even if you are able to separate yourself (again in a deep, emotional way) from material success, it still plays a role in your life. As we explained in this series, we want more wealth for a reason, even if we don’t know what the reason is.

When we undertake to get it we get a sense of satisfaction and delight when we succeed. It is not necessarily the money that satisfies us though; it may just be like the satisfaction you get from choosing the fastest line at the checkout counter… or cutting someone off in traffic.

Life is competitive. We want to win. And money is one way of keeping score. The typical man has a job where he is told, more or less, what to do. He may earn a high salary or a low one. He may like what he does. Or he may suffer it, as he suffers a tax audit or a colonoscopy. But it will probably not get him any serious wealth or satisfaction.

You do not get either by going along with the flow. You get it by disrupting it. Like disruptive technology, you must change the way money is earned… and spent… altering the capital landscape of the planet. If you are to get more, relatively, others must have less.

This gives the competitive moneymaker a deep sense of reward even before he is successful. He is not necessarily the richest of men, but he is probably among the happiest. Beethoven referred to him as the “free artist.” He does what he likes with no overseer laying the lash on his back and no Wall Street banker holding a million-dollar bonus in his face.

He would do his work even if it didn’t pay. For he is a builder remaking the world… not in his own image exactly, but at least with his fingerprints on it.

 

fingerprint

This fingerprint was left by an architect in Thailand …

(Photo via graaam.com, author unknown)

 

The above article is from Diary of a Rogue Economist originally written for Bonner & Partners. Bill Bonner founded Agora, Inc in 1978. It has since grown into one of the largest independent newsletter publishing companies in the world. He has also written three New York Times bestselling books, Financial Reckoning Day, Empire of Debt and Mobs, Messiahs and Markets.

 
 

 
 

Dear Readers!

You may have noticed that our so-called “semiannual” funding drive, which started sometime in the summer if memory serves, has seamlessly segued into the winter. In fact, the year is almost over! We assure you this is not merely evidence of our chutzpa; rather, it is indicative of the fact that ad income still needs to be supplemented in order to support upkeep of the site. Naturally, the traditional benefits that can be spontaneously triggered by donations to this site remain operative regardless of the season - ranging from a boost to general well-being/happiness (inter alia featuring improved sleep & appetite), children including you in their songs, up to the likely allotment of privileges in the afterlife, etc., etc., but the Christmas season is probably an especially propitious time to cross our palms with silver. A special thank you to all readers who have already chipped in, your generosity is greatly appreciated. Regardless of that, we are honored by everybody's readership and hope we have managed to add a little value to your life.

   

Bitcoin address: 1DRkVzUmkGaz9xAP81us86zzxh5VMEhNke

   
 

Your comment:

You must be logged in to post a comment.

Most read in the last 20 days:

  • Can Germany Be Made Great Again?
      When Germany Was Great! Ever since the start of the deliberately conceived “migrant crisis,” orchestrated by NWO elites, the news out of Germany has been, to say the least, horrific. Right before the eyes of the world, a country is being demographically destroyed through a coercive plan of mass migration.  The intended consequences of this – financial strain, widespread crime and property destruction, the breakdown of German culture – will continue to worsen if things are not...
  • Yanking the Bank of Japan’s Chain
      Mathematical Certainties Based on the simple reflection that arithmetic is more than just an abstraction, we offer a modest observation.  The social safety nets of industrialized economies, including the United States, have frayed at the edges.  Soon the safety net’s fabric will snap. This recognition is not an opinion.  Rather, it’s a matter of basic arithmetic.  The economy cannot sustain the government obligations that have been piled up upon it over the last 70...
  • Views From the Top of the Skyscraper Index
      Views From the Top of the Skyscraper Index On a warm Friday Los Angeles morning in spring of 2016, we found ourselves standing at the busy corner of Wilshire Boulevard and South Figueroa Street.  We were walking back to our office following a client wire brushing for events beyond our control.  But we had other thoughts on our mind.   Iron workers (the non-distraught variety) atop the 10 ton spire of the Wilshire Grand Center in Lost Angeles. This image is vaguely...
  • Prepare for Another Market Face Pounding
      “Better than Goldilocks” “Markets make opinions,” goes the old Wall Street adage.  Indeed, this sounds like a nifty thing to say.  But what does it really mean?   The bears discover Mrs. Locks in their bed and it seems they are less than happy. [PT]   Perhaps this means that after a long period of rising stocks prices otherwise intelligent people conceive of clever explanations for why the good times will carry on.  Moreover, if the market goes up for...
  • Bitcoin, Gold and Silver
      Precious Metals Supply and Demand Report That’s it. It’s the final straw. One of the alternative investing newsletters had a headline that screamed, “Bitcoin Is About to Soar, But You Must Act by August 1 to Get In". It was missing only the call to action “call 1-800-BIT-COIN now! That number again is 800 B.I.T..C.O.I.N.”   Bitcoin, daily. In terms of the gains recorded between the lows of 2009 and the recent highs (from less eight hundredths of a US cent per...
  • Seasonality: Will Patterns that Worked in the Past Also Work in the Future?
      Historians of the Future Every investor makes trading decisions based on what happened in the past – there is no other way. What really interests us is the future though. After all, what happens in the future ultimately determines investment success.   When in doubt, you can always try to reach the pasture...  In Human Action, Ludwig von Mises described stock market speculators as akin to “historians of the future”. This is without a doubt the most trenchant definition of...
  • Bitcoin Forked – Precious Metals Supply and Demand Report
      A Fork in the Cryptographic Road So bitcoin forked. You did not know this. Well, if you’re saving in gold perhaps not. If you’re betting in the crypto-coin casino, you knew it, bet on it, and now we assume are happily diving into your greater quantity of dollars after the fork.   Bitcoin, daily – adding the current price of BCH (the new type of Bitcoin all holders of BTC can claim at a 1:1 ratio), the gain since the “fork” amounts to roughly $1,000 at the time we...
  • What Went Wrong With the 21st Century?
      Fools and Rascals   And it’s time, time, time And it’s time, time, time It’s time, time, time that you love And it’s time, time, time… - Tom  Waits   Tom Waits rasps about time   POITOU, FRANCE – “So how much did you make last night?” “We made about $15,000,” came the reply from our eldest son, a keen cryptocurrency investor. “Bitcoin briefly pierced the $3,500 mark – an all-time high. The market cap of the...
  • Czar vs. Pope
      Vladimir the Great Sums Up Pope Francis the Fake Vladimir Putin has once again demonstrated why he is the most perceptive, farsighted, and for a politician, the most honest world leader to come around in quite a while.  If it had not been for his patient and wise statesmanship, the world may have already been embroiled in an all-encompassing global conflagration with the possibility of thermonuclear destruction.   Vladimir Putin is sizing up Pope Francis with his “good...
  • Bitcoin Has No Yield, but Gold Does – Precious Metals Supply and Demand Report
      Bitcoin and Credit Transactions Last week, we said:   It is commonly accepted to say the dollar is “printed”, but we can see from this line of thinking it is really borrowed. There is a real borrower on the other side of the transaction, and that borrower has powerful motivations to keep paying to service the debt. Bitcoin has no backing. Bitcoin is created out of thin air, the way people say of the dollar. The quantity of bitcoins created may be strictly limited by...
  • Is Historically Low Volatility About to Expand?
      Suspicion Asleep You have probably noticed it already: stock market volatility has recently all but disappeared. This raises an important question for every investor: Has the market established a permanent plateau of low volatility, or is the current period of low volatility just the calm before the storm?   All quiet on the VIX front... what can possibly happen? [PT] - click to enlarge.   When such questions regarding future market trends arise, it is often...
  • Will They Haul Off Trump’s Statue, Too?
      Confused by Shadows POITOU, FRANCE – This week, we are talking about theperishable nature of gods. Yesterday, the city fathers of our hometown of Baltimore let it be known that it was time to toss out the old deities.   The Robert E. Lee and Thomas. J. “Stonewall” Jackson Monument in Baltimore, which the mayor inter alia wants to remove. Suddenly it has become fashionable to erase the memory of an important part of US history all over the country. By experience, this...

Support Acting Man

j9TJzzN

Austrian Theory and Investment

Own physical gold and silver outside a bank

Archive

350x200

THE GOLD CARTEL: Government Intervention on Gold, the Mega Bubble in Paper and What This Means for Your Future

Realtime Charts

 

Gold in USD:

[Most Recent Quotes from www.kitco.com]

 


 

Gold in EUR:

[Most Recent Quotes from www.kitco.com]

 


 

Silver in USD:

[Most Recent Quotes from www.kitco.com]

 


 

Platinum in USD:

[Most Recent Quotes from www.kitco.com]

 


 

USD - Index:

[Most Recent USD from www.kitco.com]

 

 
Buy Silver Now!
 
Buy Gold Now!
 

Oilprice.com