Heyo! 👋 Did you know that when the rate of return on capital grows faster than that of wages, inherited wealth grows more than the total wealth people make from their incomes? And that today, more people are “gifting” capital to their kids in their 30’s and 40’s, which they would normally inherit in their 50’s and 60’s when their parents passed? And that the vast majority of these “gifts” are often real estate investments? Did you also know, that between 1870 and 1970, the value of these “gifts” was about 20-30% of the value of the total projected inheritance these kids would receive when their parents kicked the can, but today, the value of these “gifts” given while their parents are still alive is roughly 80% of their total projected inheritance? Thanks, Boomers! And finally, did you know that the total value of wealth and inheritance right now is the same as it was in the 1800’s - during the Belle Époque and the Gilded Age - but now it’s concentrated into the hands of even less people?? And that this congregation of capital will ultimately attain extremely high levels in our lifetime? Levels of which are potentially incompatible with meritocratic values fundamental to modern democratic societies??*

Anyway, this is a found objects poem of a conversation I overhead between a yacht-y American couple, who was about my age, in Croatia this week.

*All economic facts come from Thomas Piketty’s 2013 book, “Capital in the Twenty First Century”.

I’m bigger than numbers 🔢

our parents 
are leaving us 
half a house 
my brother will 
buy us out 
technically, yes 
they’re handing over 
the Scottish terrier
I’m offski I need 
to pare down my
skincare routine
from five Aesop
products to three
due to inflation 
you know me 
I’m not scared
my dad knows 
how to work 
that stuff out 
I’m working 
for the children
you know what 
I mean? even if 
you’re not 
physically there, 
you can still 
make money as
an aviatrix, babe 
I’m sure there’s 
a way you could 
occupy the same 
space indifferent 
worlds you know 
it’s no big deal 
our parents will
always be there 
finish your wine!
I want to go 
explore the island 
hey,
are you drunk?
 
 

Okay poetry babies! Your homework for the week is to get nosy. Listen in on someone’s conversation and use it as source material for a piece. 1,2,3, go! 🏁

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