$83 million could put 2,075 people to work for a year at $40,000 each.
...or buy 415 nice houses at $200,000 each.
...or buy 2,766 new cars at $30,000 each.
...or feed 45,479 children in impoverished nations for five years, if you believe the charity that says you can feed a child for just $1 a day.
But some guy named Isaac Wolf blew $83 million for a rock.
And on the same day, at the same insane auction, another person dropped $100 million for a painting.
Maybe Mr. Wolf will be able to sell the pink rock for even more money some day. But the sale did break an all-time record for diamond auctions, which means by definition, he bought high. I thought investors were supposed to buy low and sell high.
But hey, who are we to complain? We obviously live in an economy that's so successful it can take care of basic human needs for the masses while spinning off millions to the "winners" so they can buy trinkets. That means things are going great, right? Everybody who wants a job has one. Everybody has the housing they need. Everybody can afford to see a doctor. The schools are successful and the bridges are in a state of good repair.
The rich have done it. They got their tax breaks and they created jobs; good jobs that reward workers with raises and better benefits when the company turns a profit. So who cares what a rich guy does with his spare change? The wealth is really trickling down now, lifting all boats. Everybody's happy. Can you feel it?