Today, we do not have the luxury of just calling something an asset, because we have done so for all your life.
Today, we do not have the wherewithal to classify things as assets for now and forever.
Today we are looking at things switching from assets to liabilities overnight. Or visa versa.
Or, more likely changing from assets to a political hot-potato.
Things are going to get very difficult if you hold onto the old ideas about what an asset should be.
Today, in America, you need a car. It is almost impossible to live without one. There are a few cities where you can live without a car, but in 99% of the country, you need a car to get to work, to get to the store, to get anywhere…
An automobile is a thing that you need to have to live a middle-class life.
But, it is not an asset. It is a liability that you need. It costs you so much per month to keep it running, insured and licensed. Maybe it would be better called a "middle class tax"
Now, lets change things up. If some places banned ICE cars. Everyone must go electric, then your old car becomes a one ton paper weight. Further, if we really cared about the environment, like we say we do, everyone would be riding around on electric bicycles.
Even better than that would be people living in a small communities. Where most people never need more than their legs to get wherever they need to go.
Now, lets make things even worse. The roads aren't maintained, and storms and earthquakes have messed them all up. If you have less than an all terrain vehicle, you aren't going anywhere in it. Now the car you had is almost completely worthless. Even if it is a cherry 1965 Ford Mustang.
Lets say that in twenty years we are all flying around in flying cars. Your ground based vehicle is a piece of junk. Unless it has collection value, and an ancient car enthusiast wants it. Meaning, all the econo-boxes on the road, are nothing more that planters for nature to reconsume.
Most of what we call assets, will have similar stories.
Real Estate has been the ultimate investment ever since the words "King's Estate" was coined.
It is considered a rock solid asset. Except that it goes against nature, and is stupid, divisive, and unnecessary.
If we start to live in tribes again. If we choose to live with our "family" in a close, tight-knit community. And if we have made it easy to live off-grid. Then the term "Real Estate" becomes silly.
Our "family" communities could be dotted all over the map, and not be anywhere close to each other.
There is sooooo much land in America that hasn't been stepped on by human foot in years. There isn't any need to compete for land. Only in our smashed-together city living does that ever become an issue.
Just look at ghost towns. Used to be valuable, now hard to give away.
Real Estate will not be considered an asset for much longer. Probably just after they spend a lot of time and effort tokenizing it.
Robert Kiyosaki defines it as that which puts money in your pocket.
Although this is fairly useful, in another 50, it will be meaningless.
When we switch back to real money, and a tribal style of living, then an "asset" can't be defined by income. You are in a group of people where all your needs are met. Do you need money? Do you need income? And, if we are using bitcoin, the best thing to do with your bitcoin is nothing.
Bitcoin will go up faster than real estate, stocks, bonds, CDs.. all the things we call investments today. Bitcoin will go up as part of the WHOLE pie, not just a part of it. As the economy of the world gets bigger, bitcoin gets bigger.
Being a manufacturer is a way to make goods, that can be shared/bartered with other people. Why would you own a part of some other company, who is doing a bad job at it? Build something to trade. Do not own a stock of a corporation who will take 99% for themselves.
The things we call financial instruments will just fall away. They are useless. And that will be shown to us as we go forward.
Assets today are considered "money in the bank". But how many trillion dollar Zimbabwe Notes does it take to buy anything? All fiat goes to its intrinsic value of zero. So, what was once THE ASSET, is now the trash, or kindling.
The entire banking industry is about to be turned into dust. Even its concepts will no longer be used. Economics, the entire field, will seem shtupid.
Consumerism will be classified under psychopathy and modern advertising will be considered "mental abuse". And, why would you do it? Because you enjoy wasting other people's time? You enjoy preying on the weak? (people will hunt you down for that one)
Gold, so highly prized today, will be considered good for making non-stick, hypoallergenic cookware with.
Diamonds, without DeBears will be sparkly, but mostly worthless bits of rock.
Assets may be considered things like good-will, good-friends, skills, community. But, the word may, just as easily, become unused. Meaningless to the modern vernacular.
