sudden loss of wealth syndrome
- sudden loss of wealth syndrome
n.
Stress and anxiety caused by an abrupt loss of wealth.
Example Citation:
Joan Indursky-DiFuria, co-founder of the Money, Meaning and Choices Institute in San Francisco — the folks who put the phrase 'Sudden Wealth Syndrome' into the lexicon — said many of her clients are now dealing with "Sudden Loss of Wealth Syndrome."
— Abby Ellin, "Therapy for Dot-Com Survivors," The New York Times, March 18, 2001
Earliest Citation:
Dr. Stephen Goldbart, a Bay Area clinical psychologist, ... [is] also seeing clients afflicted with sudden loss of wealth syndrome, people whose six- or seven-figure bank accounts are in decline.
— Elaine Korry, "Stockholders in Internet companies losing their money since a downturn in the market in March," National Public Radio, July 18, 2000
Notes:
During the late 1990s when the dot-com fad had become a full-fledged frenzy, it seemed as though the entire population of the Western world was rich. If your net worth didn't have two commas in it, then, well, there must have been something wrong with you, no? What was wrong, actually, was that the majority of these nouveaux riche were riche only on paper. They may have been worth millions, but those millions existed as stocks or stock options. When the bubble went kablooey, that wealth disappeared like so much sunscreen at a nudist colony. Hence today's rapid reformulation of sudden wealth syndrome. Predictably, the earliest citation is post-crash.
Related Words:
Categories:
New words.
2013.
Look at other dictionaries:
sudden wealth syndrome — n. Stress and anxiety caused by the sudden accumulation of unaccustomed wealth. Example Citation: Even the winners on the [Antiques Roadshow] those who make it on air, tell and receive stories, discover sudden wealth are not delivered. On… … New words
wealth effect — (WELTH uh.fekt; TH as in thin) n. An increase in consumer spending based on the perceived wealth created by the escalating value of stock market portfolios. Example Citation: Big portfolio gains by investors in recent years have created what… … New words
plutonomy — n. An economy that is driven by or that disproportionately benefits wealthy people, or one where the creation of wealth is the principal goal. [Blend of pluto (wealth) and economy.] Example Citations: Wealthy business people and families from the … New words
starter castle — (STAR.tur kas.ul) n. A large home built on a relatively small property. Example Citation: But as the dimensions of private homes in some parts of the city have grown from 8,000 to 20,000 to 30,000 and even 40,000 square feet the lots on which… … New words
Money — 419 scam affluenza alpha boomer alpha earner appraisal mill bad debt art bid shielding BIY … New words
lucrepath — (LOO.cur.path) n. A person who is pathologically driven to make money. [Blend of lucre and psychopath.] Example Citations: Universities are a fruitful source of neologisms I once had a couple of philosopher colleagues who coined the word… … New words
affluenza — (AF.loo.en.zuh) n. An extreme form of materialism in which consumers overwork and accumulate high levels of debt to purchase more goods (affluence + influenza). Example Citation: Our society is more troubled by problems of overabundance. We are… … New words
debt porn — n. Stories related to people who run up massive amounts of debt. Also: debt pornography. Example Citation: If Double Down and 24/7 are more exciting reads, it s mostly because the stakes are higher. Both books have the thrilling appeal of debt… … New words
investorism — n. The movement of money away from purchasing goods and services ( consumerism ) towards investing in mutual funds, stocks, and other financial assets. Example Citation: In The Overspent American, Juliet B. Schor...has identified a more recent… … New words
maffluent — n. The mass affluent; the relatively large group of people who can now make some claim to affluence because of the increased value of their stock portfolios. Example Citation: The ownership of shares seems to be taking off again, building on… … New words
