Wyatt earp
Diamond Member
- Apr 21, 2012
- 69,975
- 16,412
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LMFAO...God Damn I knew liberals were green with envy and soooooo materialistic but this takes the cake on how FUCKING ridiculous and stupid they have become...
Living Near A Lottery Winner Has A Surprising Downside
This guy's happy, but what about his neighbors?
When people win the lottery, their less-lucky neighbors often drive themselves into financial ruin trying to keep up, according to a provocative new study from the Federal Reserve Bank of Philadelphia. The more money the lottery winner gets, the worse off their neighbors become, the research suggests.
The paper's authors -- Sumit Agarwal of the National University of Singapore, Vyacheslav Mikhed of the Philadelphia Fed, and Barry Scholnick of the University of Alberta -- looked at lottery winners and their neighbors in Canada. They found that for every $1,000 Canadian dollars ($720) a person won, the likelihood of a neighbor declaring bankruptcy increased by 2.4 percent.
The researchers also found that big purchases meant to signal wealth, which economists call "conspicuous consumption," are behind the money troubles of people whose neighbors win the lottery.
.
Living Near A Lottery Winner Has A Surprising Downside
This guy's happy, but what about his neighbors?
When people win the lottery, their less-lucky neighbors often drive themselves into financial ruin trying to keep up, according to a provocative new study from the Federal Reserve Bank of Philadelphia. The more money the lottery winner gets, the worse off their neighbors become, the research suggests.
The paper's authors -- Sumit Agarwal of the National University of Singapore, Vyacheslav Mikhed of the Philadelphia Fed, and Barry Scholnick of the University of Alberta -- looked at lottery winners and their neighbors in Canada. They found that for every $1,000 Canadian dollars ($720) a person won, the likelihood of a neighbor declaring bankruptcy increased by 2.4 percent.
The researchers also found that big purchases meant to signal wealth, which economists call "conspicuous consumption," are behind the money troubles of people whose neighbors win the lottery.
.
