The Houston Chronicle repeats the headline

Houston They didn't put the age

Why would the hometown paper know you needed an age?

Houston ranks among top world cities for millionaires. Just ahead of Zurich, there are 90,900 millionaire residents in Houston, according to an annual report from a London consultancy.

That's good, don't get me wrong, I'm happy when people are making money. I don't mean to suggest that I'm not.

But when you talk about real wealth, it's not income.

The people who we think of as having real wealth,

Warren Buffett, for instance,

Toman Fratida, they don't get a W-2.

You know every two weeks you get a paycheck?

They don't get a paycheck.

The real money is made off of capital gains, off of investments, off of the sale of a

business, or the sale of a large number of stock in a business you own or take a position in.

So we're only talking income. The problem with that is when people think of these sorts of things,

they don't take into account the folks that have the real money because most people don't

understand how real money, how people with real money because most people don't understand how real money

how people with real money work. They're very different than the rest of us.

But the term millionaire as they use it here means people who make a W2 of a million dollars a year.

And again, I'm happy that people are making good money.

But the real story here is this is inflation.

This is people having to make more money because things cost so much more.

And some people are able to do that.

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