Comment of The Day, Bloated Plutocracy Edition

Sadly, No reports on a US economist and academic, Bryan Caplan, who’s come out of the closet as a plutocrat and advocate of aristocracy. His suggestion that the grant of voting rights should require an economc literacy test prompted this comment:

D. Aristophanes said,

June 15, 2007 at 22:33

TEST OF ECONOMIC LITERACY

Question 1:
When writing a letter to the CEO of a major American corporation asking for advice on the best countries to use for stashing your vast fortune in an offshore holding account, what is the appropriate form of address?

A) Dear Mr. Knight
B) To the concerns of the CEO
C) Yo Phil!
D) I don’t know, as I’ve never been faced with a situation like this before, and thus allowing me to vote would cause Thomas Jefferson to spin in his grave.

He he.

MATH SECTION

Question 1:

If Stuart has three semesters left at the Philips Exeter Academy in which to raise his GPA to a 2.3 in order to meet the legacy standards at Yale, and Jill must stable her roan and miss three riding sessions during her tour of Tuscany and portions of Switzerland … how much should one tip the valet at Per Se in midtown, provided he isn’t too impudent or unpresentable?

Exaggeration? I think not.

You only have to read the New York Social Diary at the Venice Biennale:where the denizens of the new Gilded Age meet to make deals and broker mergers behind the conspicuous show and one-upmanship

Photographing completed, the entire Bullock party which included her public relations consultant Couri Hay, photographer Patrick McMullan, Liliana Cavendish, nine or ten in all, boarded her hired boat (which she kept around the clock) and began an odyssey of party-going which included a visit to an island for a “Prada” party which was over by the time we arrived, then on to another party in a restaurant located in a restored warehouse in a boatyard where there were quite a few Americans dining including collector Peter Brant and his wife Stephanie Seymour, Adam Lindemann and his fiancee Amalia Dayan.

[…] I am also struck by the awesome presence of modern material wealth alongside the treasures of architectural antiquities — the huge private yachts moored along the docks in certain parts — here to partake of the excitement of the contemporary art world.

The international art scene as demonstrated by this week in Venice is now a living, breathing mass commentary on the state of western civilization or what is now known as “the developed countries” with its grand excess of new super-wealth and a kind of baroque consumerism (acquisition of art). Considering all of the elements of nature and international politics that are currently confronting us, Venice and its history serves as a perfect venue of no small irony for this modern enterprise known as the art business and the foibles of the human condition which continue to challenge us.

And oh, the foibles of the human condition which continue to challenge the rich, poor things. We should all have such foibles.

There’s so much new unregulated money sloshing about at the moment that as in the nineteenth century, the arrivistes are desperately seeking social acceptance by voraciously gobbling up guides on how to spend their money, like this from the Robb Report Luxury Portal, Wealth Management Section:

Family: Hiring The Help
Liz Roberts
04/27/2003

Vincent Minuto is on the phone with a New York art dealer, and he is fuming. The owner of Hampton Domestics, an employment agency with offices in Sag Harbor, New York City, and Palm Beach, checks off the caller’s requirements: She wants a private chef on call four days a week—but to work and receive payment for only two—to prepare separate meals for her and her husband, who naturally have different tastes in food. The going rate for a chef’s service is $300 to $350 daily, says Minuto, who has worked as a chef, but the woman is willing to pay only $200. “Honey, wake up and smell the coffee; the slaves were freed over 100 years ago,” he says after he has hung up the phone, blaming the woman’s unreasonable expectations on what he calls SWS, or Sudden Wealth Syndrome. “Old money—they understand,” Minuto adds with a sigh. “They’re cheap to begin with, but they respect you as a human.” He should know. His first catering client was Gloria Vanderbilt. Since then, Minuto has managed estates for some of America’s prominent families.

Handily this 7-page guide for nouveau riches – though Roberts won’t use such a declasse expression, she calls it Sudden Wealth Acquisition Syndrome – includes a helpful list of all the many and various classes of servants:

Who’s Who in the House

Before contacting a domestic placement agency, you will want to possess some knowledge of the various staff positions and their corresponding job descriptions. The Lindquist Group uses these common titles.

· Butler—supervises household staff
· Caretaker—responsible for indoor and outdoor maintenance
· Chef/Cook—prepares meals for family and social events
· Couple—typically a husband and wife who are responsible for duties outside and inside the home, respectively
· Day Worker—performs daily tasks such as cleaning and laundry
· Estate Manager (also house manager or majordomo)—manages staff in one or more homes
· Governess—cares for children and manages homework, play dates, clothes shopping
· Household Supervisor—full-time position responsible for cooking, cleaning, running errands, and overseeing additional staff
· Lady’s Maid/Valet—keeps the homeowners’ clothing in order, helps them dress and undress, draws the evening baths
· Mother’s Helper—assists with child care and performs light housework
· Nanny—coordinates children’s activities, prepares their meals, keeps play areas tidy
· Personal Assistant (also social secretary)—manages social and professional demands on employer

It might almost’ve been lifted straight from Mrs. Beeton.

Under the proposed Caplan regime no-one on that list would have any say in the political system that maintained them in servitude. But then, that is actually the plan. At least he’s honest about it, unlike some, many of whom would self-describe as liberal, and who’d like the same political arrangement but with a few more crumbs of charitable largesse dispensed to the have-nots to assuage their consciences…. but only if they get to dress up for the fundraising gala.

I tell you, it’s enough to turn you socialist.

Iran, War, Gold and Parasites


“Big fleas have little fleas upon their backs to bite ’em, and little fleas have littler fleas – and so ad infinitum…”

I was tootling around Amazon yesterday, as you do, when I came across this book: Crash Proof: How to Profit From the Coming Economic Collapse.

Customers who bought this book also bought, apparently:

Financial Armageddon: Protecting Your Future from Four Impending Catastrophes
by Michael J. Panzner

America’s Bubble Economy: Profit When It Pops
by David Wiedemer

The Great Bust Ahead: The Greatest Depression in American and UK History is Just Several Short Years Away. This is your Concise Reference Guide to Understanding Why and How Best to Survive It
by Daniel A. Arnold

The Coming Collapse of the Dollar and How to Profit from It: Make a Fortune by Investing in Gold and Other Hard Assets
by James Turk

The Second Great Depression by Warren Brussee

I’m sensing a trend.

My first thought was that if Wall St and the economic media have such weak confidence in the US economy, it must be in just as bad a shape as has been predicted. But how typically Republican, how very now, I thought, to attempt to profit from your own mistakes.

Read More

Comment Of The Day

A little perspective on the World Bank/Wolfowitz affair, from Digby commenter Joejoejoe:

The White House says giving your girlfriend a $60,000 raise to $193,000 for a no-show job is “not a firing offence”.

I was talking to the cashier at my local Sav-a-Lot after he gave me too much change one day (two bills stuck together) and he told me if he’s off by more than $5 in his drawer at the end of the day he gets a warning. If it happens a second time he gets fired.

My local cashier lives his life two sticky bills away from being unemployed and yet it’s somehow excused that Paul Wolfowitz basically cheated the World Bank out of sixty large US. I wish the press would put some kind of “real world” context in every story about the elites. The dollar figure from Wolfowitz’s screw job is enough to get 6,000 cashiers fired but it’s not enough to fire the World Bank president. What a cruel farce.

joejoejoe | 05.15.07 – 3:58 pm | #

Watch Out, Joe Klein…

The reporters are being outsourced to India…. are the pundits next?

On the news beat in Mumbai, California

· US website recruits reporters living in India
· Journalists cover council meetings via internet

Dan Glaister in Los Angeles
Saturday May 12, 2007
The Guardian

It is a story destined to chill the soul of even the most diligent and productive of journalists. A news website in Pasadena, California, has recruited a pair of reporters who will be expected to write one or two 500 word stories each day detailing the business of the local council, as well as two in-depth pieces each week.

They do not need to come into the office. In fact, it is unlikely they will visit the office, meet their editor or even see Pasadena. The two new recruits to PasadenaNow.com are based 7,979 miles away in India, one in Bangalore, one in Mumbai.

“This is a revolutionary idea,” said James Macpherson, the website’s editor. “A few of the people who applied for these posts got the idea and see themselves as revolutionaries at the frontier.”

Unsurprisingly, Macpherson recruited his cub reporters through the internet. “We seek a newspaper journalist based in India to report on the city government and political scene of Pasadena, California, USA,” said the posting placed on an equivalent of Craigslist earlier this week.

“We do not believe that geographic distance between India and California will present unsurmountable problems, and that working together with you will result in you developing a keen working knowledge of this city’s affairs. This will result in accurate and authoritative reports.”

The two reporters, who will watch council proceedings live on the internet, come cheap by Californian standards: the Mumbai post will attract $12,000 (£6,000), the one in Bangalore, $7,200.

For Macpherson recruiting in India was an obvious solution to his staffing problems. “I’ve had unfortunate experiences with low-cost articles,” he said. Interns and students, “are extremely demanding and produce inferior work.”

[…]

Macpherson is not the first to outsource writing. Reuters news agency has a staff of 1,000 in Bangalore, including 100 journalists writing financial news stories. The Boston Globe also recently announced some jobs would be outsourced to India. But this is the first time that a reporting brief has been handed to journalists on the other side of the world.

[…]

“I have been unable to find anyone to work for me who will sit through them to the very end,” he admitted. “No matter how much I offer them. A lot of work in the US is done by aliens because Americans won’t do it. This is just the same as that.”
More..

Americans won’t do the shitwork of reporting because on the one hand students and interns have been suckered into seeing journalism as showbiz and themselves as potential stars, above the tedium and mediocrity of actual boring reporting. They see the pampered DC pundits like Joe Klein and David Broder and they think that’s what journalism is, getting paid for ponitificating and socialising with bigwigs.

On the other hand, many media enterprises treat students like unpaid labour, expecting them to support themselves during internships and then complaining when the students actually expect something in return for their toil.

There’s also a huge mismatch between expectations: media outlets need reporters, whereas students want to be Journalists. Where you could’ve become a reporter straight from school, Journalism is a profession, not an icky, common trade.. Journalism is for the privileged: reporting’s for the oiks,

It’s because of this and the necessity for a private income to support you that journalism is closed to many potential talented reporters who just can’t afford to fund themselves through graduate school and internships – but try getting a job without a journalism qualification – and so it’s the well-off, well-heeled and connected, entitled types who can afford to enter journalism. Which leads us right back to Klein and Broder and their cocktail party punditry again.

It’s a self-perpuating, closed system and even if on the whole I consider outsourcing to be a Bad Thing, in this instance it may actually prove useful in helping, with the explosion of blogging, to break the monopoly of privilege that has a grip on the US western media.

This Weekend We Shall be Mostly… Discussing Marxism

As regular readers may know I’m a SWPer and Martin’s a Dutch SP member so of course there’s no way we’d miss Marxisme 2007, the Netherlands’ biggest annual event for the discussion of socialist ideas, theory and practice, which is being held this weekend the 20, 21 and 22 April, at the University of Amsterdam.

Speakers include

• Lindsey German (UK Stop the War Coalition)
• David Hilliard (Black Panther Party)
• Miriyam Aouragh (Together Against Racism)
• Hajo Meyer (Another Jewish Voice)
• Peyman Jafari (Internationale Socialisten)
• Ronald van Raak (Socialistische Partij MP)
• Bart Griffioen (Dutch Stop the War Coalition)
• Khaled Hroub (Author of “Hamas: A Beginners Guide”)
• Tofik Dibi (GroenLinks MP)
• Martijn de Rooi (researcher, Openness About Iraq)
• Susan George (Author of “Another World is Possible”)
• Geert Reuten (Head of Economics department, Universiteit van Amsterdam)
• John Rose (Autthor, “The Myths of Zionism”)
• Tariq Shadid (Dutch Organisation Of Palestinians)
• Donald Pols (Environmentalist)
• Pepijn Brandon (Editor of “De Socialist”)
• Dick Pels (Sociologist & Stichting Waterland)
• Mohamed Rabbae (One Land, One Unity)
• Jonathan Neale (Campaign Against Climate Change)
• Mohamed Waked (socialist from Egypt)

A lot of discussion will be in Dutch – but because we are internationalist, much will also be in English. Here’s registration details and directions in English:

MARXISME FESTIVAL 2007 registration

Register for the Marxism festival and buy tickets:

Entry prices:

– Friday: € 5
– Saturday: € 12,50 / € 10 *
– Sunday: € 10 / € 7,50 *
– Whole Weekend: € 20 / € 15,- *

* Savings for schoolchildren, students and those in reciept of state benefits.

Accommodation and childcare:

Free overnight sleeping places and childcare (daytime only) is available. To arrange contact the organisers direct.

Directions via public transport:

From Centraal Station by tram 4, 9, 16, 24 of 25: get out at the second stop at Spui. Bear left through Langebrugsteeg. Follow the Marxism placards.

It’s going to be good. We hope to see you there.

Martin you can’t miss, I’ll be in a vintage UK Marxism t-shirt of some description. Socialism is a little like SF fandom that way, when it comes to t-shirts, you gotta establish your seniority right from the start or you’ll get some spotty adolescent trying to teach his grandma to suck eggs about Gramsci, and that would never do.

Just look for red hair at a level about a foot and a half below a crowd of dairy-fed Dutch giants’ heads and that’ll be me. Say hello.

UPDATE: Via Dave Osler comes new that Lindsey German is also running against Ken Livingstone as Respect candidate for Mayor of London. Goodie.