Blacks and Hispanic spend more on "show-off" items than whites

[Spino]

So, logically all of the nobillity and rich bourgeois a few houndred years ago were stupid and the richer they were, the more prone they were to be stupid?

Or it might be that some sub-cultures are more prone to give status by appearing rich than actually being rich.

Well considering there was very little in the way of meritocracy or IQ testing back then it's hard to know what the exact level of intelligence was for the aristocratic blue bloods & bourgeois was. Given that the bourgeois actually had to carve out a living from modest beginnings chances are they were higher than your average blueblood on the IQ scale. Based on the behavior of many European monarchs it's clear that brains and royal bloodlines were not mutually inclusive. Furthermore the lower & middle classes had very little disposable income back then, not to mention that there were ZERO social safety nets such as unemployment or welfare. Even the not-so-bright were smart enough to realize that dropping some coin on some sparkling, shiny frivolities meant you might not be able to feed yourself or your family for a few days. Let me also remind you that loans were much, much harder to secure back then (and more hazardous to your health when you missed payments) and the idea of 'credit' or credit cards had not been invented yet. Basically living irresponsibly is far less risky for people on the lower end of the IQ curve now than it was prior to the 20th century.

Yeah.... No smart and successful guy ever buys a big house, a flashy car or a bunch of jewelry for his trophy wife....

That never happens.

Gosh, you're right, that never happens! This study doesn't deal with individual examples , were that the case everyone could cite an example disproving the findings. We're dealing with means and averages here. Take a good hard look at those dimwits who win the lottery or professional athletes & musicians whose only genetic talents begin and end with their vocation. Piles and piles of money wasted on shiny baubles, frivolities, houses, cars, whores, drugs, etc. The smart ones know the gravy train won't last forever and temper their spending habits with moderation. Funny how it's always the smart ones that find themselves living comfortable years after their time in the limelight is over. Compare and contrast George Foreman (fairly intelligent) to Evander Holyfield (outright dumbass). The former has a large family, large estate, etc. and thanks to being smart about how he lends his name out is set for several lifetimes. Foreman always dresses casually or respectably and his home, while spacious & distinctly mansion-like, does not look like Caligula's playhouse. Holyfield however had a reputation for dressing like a pimped clown, was always bedecked in gaudy jewelry, bought an oversized house that was garishly decorated... everything to the extreme and, surprise surprise... he is about to file for bankruptcy.