Janice is 38, lives alone in Crumbsville, suburban London, and has paid £4,000 to a variety of dead eyed monsters with nice teeth to coach her on how to become a millionaire. Every morning, she dumps a couple of coppers in a few jars liberally strewn around her bare abode, rubs her earlobes whilst insisting to her reflection that she is both a "millionare" and "an excellent money manager", and then heads out the nursery at which she works. I mean, she's probably got a good defined benefit pension, but I don't think it's going to make her a millionaire. She watched videos of "couples in love", sees Eighties stock camera work of people lounging in hammocks sipping cocktails with little umbrellas, and fancies a slice of it. And why not?
Janice is one of the stars of this week's Most Depressing Yet Watchable Documentary, "Who Wants to be a Millionaire?", the first part of a tryptych on money from the BBC. Make sure you catch it on the iPlayer before it vanishes. The cast of grotesques, cranks and desperate money-worshippers made for particularly edifying viewing; tales of depthless human misery are always enjoyable. A brief dramatis personae.
Maria floats around her large and indecently horrid large property in a hideous faux fur coat. She loves having croissants and cocktails on her balcony, and funding her husband's musical career with the proceeds of her property portfolio. And you don't need O-Levels for that. Given that the husband's career appears to be that of a professional Brian May impersonator gigging in pubs, it's lucky that Maria owns so many rental properties. He doesn't bring much to the party; I bet Maria doesn't even invite him to the endless lunches she says she attends.
Rhys and Sarah are 18, have just celebrated their two year anniversary, and are already thousands in debt to charlatans. They go on bollocks courses on how to invest in rental property, mentored by a couple of grinning sharks. She got into the work of Robert Kiyosaki age 12 (he wrote something called "Rich Dad, Poor Dad", a treatise on the whole pointlessness of education and work, and an homage to buying four hideous cars and living in a bungalow in Phoenix, Arizona)., Rhys can't bring himself to tell his parents about his get rich scheming - presumably because, secretly, he knows that if it waddles like a duck, it's probably good dried, roasted and served in small pancakes with cucumber, spring onion and plum sauce. These silent scream nightmares must come to him as he works at his minimum wage job watering plants at Homebase.
Biblebashing millionaires Shirley and David used to be a nurse and engineer respectively. They've packed in those rubbish jobs now, of course, because they own 29 properties, a portfolio worth about £4 million. That sounds a lot, I was impressed. They've invested well, clearly. But then Vanessa Engle, who's a sort of highbrow female Louis Theroux, asked them how much they make from it. About £36,000 to £40,000, says Dave. £40,000, from a £4 million portfolio. That's a 1% return. By any measure, that is miserable. Still, it's worked for them because some people just lack ambition, and want. And they top up the pathetic return on their assets by telling other people how to be just like them. So if ever you want a course on how to be bald, chubby cheeked and painfully mousey, just call on Shirley and David.
You see becoming super rich and never having to get out of bed again (which, admittedly, sounds terrific) means that you need to create "passive income". You just need to buy enough assets which you can leverage to buy more assets in the hope that you eventually make enough to allow you to stop buying assets. And by assets, these people mean rental properties. There's nothing else to do, simple as. Just buy a property, leverage yourself up to the eyeballs, and keep buying more and more. And pray and pray and pray that mortgage rates don't go up even the teensiest bit, because then the whole edifice will come crashing down around you, and you'll lose the whole thing. But you cannot afford to be negative. Not. At. All. Don't question this stuff, because then you won't make millions. It's like not believing in fairies - every time someone says it, one dies.
And to prove that they still believe in fairies, all the willing all go to Excel to watch the shitehawks flogging their bullshit in
person. They're queuing for the gas chambers.
I think it would be fine if this was just an American
thing. It's got all the hallmarks of evangelical religion. Repetitve phrasing, call and
return, charismatic leaders, phony success stories, a lumpen and unattractive crowd bulked out with stooges and - lest we forget - an impressively bulky bottom line. But it
seems we have our very own British versions too. Marcus is lank and
horrid looking, desporting the guru's uniform of pug-ugly shirt and
testicle-nippingly tight stonewashed jeans. He's a millionaire, natch,
and he teaches people how to become millionaries. By "teaching", he means publicly humiliating, making them run up and down a crappy hotel conference room, or jump up and down and clap. He is David Brent, right down to his gimpy little beard. His clearly embarrassed wife looks very sad indeed, although it may be the crotch-displaying pose he strikes whilst sitting on the sofa in their spartan flat (none of these millionaires seems to spend any money on furnishings) whilst being interviewed that causes her to hate him.
It's obvious - obvious to anyone with a brain - that the whole thing is a pyramid. Ask any of these people how they became rich, and the answer is that they got rich charging other people vasts amounts of money to tell them how to get rich. It's an endless circle jerk of hellish proportions. When I (briefly, it was far too tiring) worked as a postman, I was regularly asked by one of the people to which I delivered (they're probably called "clients" or "customers" in Post Office speak) to join his pyramid scheme. You just need to sell household cleaning products to other people farther down the pyramid, in the hope eventually that all the suspiciously branded (never Cif, always Rif or Tif) and clearly dangerous (i.e. "this will destroy your skin")will eventually be sold to a consumer and someone will get some money. The people at the top get rich from the endeavours of the Solylent Green types below.
You're stuck though, aren't you? Once you've paid Robert Kiyosaki your £1,500 - which will just about cover the cup holders on his latest appalling car - and realise that you've been sold a crock, perhaps you have to keep going on the courses in the hope that you do finally crack the old financial success game, so that you can afford to pay off your credit card bill.
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