| This is Bloomberg Opinion Today, a support yacht of Bloomberg Opinion's opinions. Sign up here. Today's Agenda Wealth: How Does It Work?What does it take to feel wealthy? Warren Buffett has more money than God, but he also lives in Omaha in a modest house he bought more than 60 years ago. Does he feel wealthy? Would you feel wealthy if you lived like him? Jeff Bezos has more money than God and Warren Buffett combined, more than enough to buy any obscene Grenadines quarantine facilitator he wanted. But that was not wealthy enough for him: He apparently needs a yacht that comes with its own support yacht. Bloomberg reported this a month and a half ago, and I still can't get over it. How high on the pyramid of Maslow's Hierarchy of Needs do you need to climb before you reach "support yacht?" Will having a support yacht finally make Jeff Bezos feel wealthy? The point is that the feeling of wealth is relative, and the best way to feel wealthy, once you have satisfied Maslow's lower-level requirements, is to learn to be happy with what you have, writes Erin Lowry, while also not sweating so much that someone will take it all away. If I can afford a yacht, then maybe I should enjoy that yacht and not just glare at the empty space off the port bow where a support yacht should be. Maybe this attitude is a slippery slope to communism, but more likely it's a way not to give yourself an ulcer because you aren't as wealthy as the Bezoses next door. To be sure, life is unfair. Most Americans don't have enough to retire. And most of those with retirement plans lack access to the kinds of assets available to the truly wealthy, notes Shuli Ren. We'll never be able to watch our portfolios grow the way theirs do. And let's not even get into Peter Thiel's $5 billion Roth IRA. It's hard not to feel envious when the flood is coming — they've got an Ark and all you've got is a rowboat. Don't Fear the Vaccine PassportsThe country that put people on the moon is now afraid of technology, Noah Smith writes. His column is mainly about Americans having a self-defeating fear of the automation we'll need to future-proof the economy. But he also notes much of the country responded to the greatest technological advancement of the decade so far, mRNA vaccines for Covid-19, the way people in "Idiocracy" responded to the idea of water making plants grow: with a primitive, murderous rage. The agita over vaccines has made the idea of passports and mandates taboo in our redder states. But corporate America still appreciates the link between science and profits. Morgan Stanley, for example, is requiring workers in New York offices to be vaccinated. Max Nisen writes it won't be the last company on Wall Street or Main Street to embrace the idea. The delta variant is spreading quickly through the U.S., just as these companies are trying to lure people back to their desks. A new study suggesting even mild Covid cases can change the brain should make us want to avoid infections as much as possible, writes Sam Fazeli. Requiring vaccines may be the only way to keep business going, an idea that should eventually have bipartisan appeal. RIP the Fed Funds Rate"The federal funds rate is an overnight lending rate that affects borrowing costs throughout the economy" is a phrase I learned as an economic reporter 20 years ago and typed countless times thereafter. You try paraphrasing it, buddy. For much of that time, the fed funds rate was the tiny hamster powering the wheel that ran the global economy. But then the financial crisis brought us QE, and since then the Fed has found a menagerie of other little helpers. The fed funds hamster is mostly forgotten. In fact, Bill Dudley writes, it's time to send the fed funds hamster to a nice little hamster refuge upstate where it can run free and retire from worrying about the global economy. The interest rate the Fed pays on bank reserves is far more important now and should be the Fed's focus. This will force economic reporters to learn a whole new boring sentence to type, but it will help the economy much more. Further ReadingThe Archegos debacle is not an argument for new regulation of family offices. — Brian Quintenz and Hester Peirce Credit Suisse's new boss can fix the bank merely by changing the culture. — Marcus Ashworth President Joe Biden must hold India to a higher democratic standard. — Pankaj Mishra One inflation indicator to watch is the classic "shrinkflation" — less product for the same price. — Stephen Mihm Obamacare is more popular partly because its least-popular components have gone away. — Ramesh Ponnuru Goalkeeper fails are an example of the activity bias that hurts investors. — John Authers Paid maternity leave saves mothers' lives, and it's shameful the U.S. doesn't demand it. — Joia Crear-Perry ICYMIMany are still missing after a Miami condo collapse. There's a bipartisan infrastructure deal that may or may not pass. The inside story of the Ever Given's Suez adventure. Kominers's Conundrums HintLike dads and/or jokes? Then you absolutely must try our Father's Day Conundrum! It's one of the fastest-to-solve puzzles we've ever run in this series and features (arguably) hilarious punchlines involving chess, kilts, and grain silos. — Scott Duke Kominers KickersNew Jerseyans can't spell "coronavirus," but then South Carolinians can't spell "which." (h/t Mike Smedley) There's no evidence chance office meetings boost innovation. Last cow recaptured after mass slaughterhouse escape wins a prize. How an airport worker was able to steal a plane off the tarmac.  Notes: Please send dad jokes and complaints to Mark Gongloff at mgongloff1@bloomberg.net. Sign up here and follow us on Twitter and Facebook. | 
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