Comments by "Samson Soturian" (@samsonsoturian6013) on "Is The Luxury Goods Bubble About to Burst?" video.

Stupidity and greed are also factors.
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@TheHumbleGeek I'm sure there is something you are tempted to overspend on. I keep having to tell myself No, I do NOT need another gun.
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To add about conspicuous consumption: Its what drives certain digital economies. Certain online games give out unique items as rewards, and these are often sold for real world money. Most of the time they sell only for a few dollars, but there are recorded cases of people paying a couple grand for something like a unique paint job on a digital gun. There are cases of people who were offerred even more but simply refused because they thought it unethical
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Those are mostly shoes/clothes where the goods are cheap but the branding isn't. Most of the buyers are actually small time dealers auctioning them off. One 22 year old said after expenses flipping luxury shoes paid about as well as a factory job but he didn't have a boss
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@bruceleeharrison9284 trap? People WANT to spend it all as soon as they get it
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By whining about their wages and having no retirement plan
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@esterdrass4964 it's most common with clothes and shoes where most of the cost is in the branding
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@bruceleeharrison9284 because they WANT to spend money. Advertising gets so strange and expensive these days because most of it is cheap and ignored. In any case, you are not selling actual junk through adds, you are selling what people want but don't need
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@bruceleeharrison9284 salesmen got mind control?
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Not same quality. A lot of them fall apart within a day. And they're mostly for the domestic market
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Commodities aren't investments
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Greed is evil. Materialism is too vague a term
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There was also rent relief and other loans, but a big factor was macroeconomic. The easy money of loan interest rates meant a lot of people spent rather than saved
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There's a bunch of idiots selling you pseudoscience stuff.
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And because everyone who wsnts one has one
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Yeah, poor people do buy small luxury items. They're usually irresponsible people or people if with skewed priorities. Many will complain about either their wage or social services. I.E. Lady refuses to buy her son school materials but still has the latest iPhone. Greed has no regard for class.
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@RedGunBullets Other way around. A lot of poor people are poor because they handle money... Poorly. As Buffet said, markets transfer wealth from the impatient to the patient.
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@malimrkisa7718 no one is recession proof, least of all rich chumps running narrow margin businesses
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Take your medicine, Karen
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Good, not perfect. Some items behave like luxuries even if they aren't that fat of margin, like new cars (especially Teslas). Others have fat margins because for some reason there's high risk or other costs. Like how it can cost as much to ship in heavy equipment to remote placed as the equipment costs itself. Or in new medicine where the R&D and insurance costs are something ridiculous.
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Why should we care if it does?
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@idleishde6124 just because I don't care doesn't mean i ain't interested. Don't be a bully
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Shut up
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@stephenlight647 the shit you bought isn't
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Depends how you define luxury. Rolex originally was not a luxury brand, it was the most durable and accurate pre-digital watch on the market that could be seen on the wrists of professional adventures (Astronauts, army officers, explorers, etc). Likewise fast fashion functions as a luxury that commoners can afford. You're thinking of wine snobs and similar idiots
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@aim-for-greatn3z947 or worse. A conspiracy to lower waged
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@Nsibidiimohtep-pf9gh ads work best when it's a product people want but don't need
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@Themlpg73 no
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Depends on the luxury. Designer clothes are just women that want to look pretty
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@intuitivediane with some of these things the perceived quality is higher than reality though
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No, but someone who recently got a job making 60 grand a year may do just that. @alito238
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A small part of it, but some people assume the quality matches the price tag @thespacesbetweenstudio3346
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You just don't know how to spend your money correctly @XavierJAlexander
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@jjpaq luxury items aren't murder
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@jjpaq I say that because selling things at an arbitrary agreed upon price isn't inherently sinful
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inutamer365 I forget the stat, but most luxury goods are sold to normal people who are bad with money. Of course, greedy bastards think everything is a conspiracy to keep people poor
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@bperez8656 that is several levels of oxymoron
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@chengong388 Also, good, but not perfect. Rare items tend to advertise themselves, like 100 year old wine. High advertisement budgets imply it's a vice item that people want but don't need.
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@flowstateentertainment8395 you're mighty condescending for someone who isn't contrsdicting anyone here
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There are people that do just that for a living. They are the ones flying in and waiting in line for hours, and the money they get in auctioning them on eBay pays decently
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That is a part of it. Cheap loans and lack of real things to invest in were also factors
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Greedy bastards. I knew a guy once who was always angry about his wages and turned to drug dealing and scamming his landlord. He blamed poverty, but his girlfriend kept stopping him from spending over 100 bucks a night.
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@tomlxyz Trophy items and competitive advantages
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China was the biggest driver of the luxury goods market, with people taking out loans just do they could show off European and American branded goods. They were the biggest consumer of real luxury items despite the fake luxury market being at least ten times the size. Now those days are done with mass unemployed in China and loan defaults exceeding 50% in many cities
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Except the sales of Louis Vuitton is an equally good substitute for that as they own most of the major brands
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