No Accounting For Tastelessness
One of the recurring themes here has been how a select few profit enormously when fiscal and monetary policy go awry. If you're wondering how those perched at the best spot on liquidity's river are doing, look no further.
posted by The Cunning Realist at Saturday, June 10, 2006
12 Comments:
I remember the Greenwich "of old". Talk about a clash of cultures.
judyo
Maybe he understands that you don't go to your banker, you know the one who holds the huge mortgage on your house, boat, Hummer and that "little island in Paradise" and say "Sc*** you".
judyo
How this ended up here and not "A Great Big Global Guffaw" is beyond me!!!!
judyo
At least in the old days they actually produced something. Now everyone there makes money by moving money... No service, no products, just money and it isn't even real its based on derivatives. It could all be virtual for that matter.
Good thing the US retirement system isn't building its foundation on something like this. OOppps, they are!
I saw a film last night that perfectly described the house of cards upon which these palaces are built: Highly recommend it.
It's not how much money you have, but what you do with the money you have that defines one's character. It's sort of that "Ask not what your country can do for you; ask what you can do for your country" philosophy.
I was under the impression that historically the extreme wealthy built hospitals, schools, librarys, and parks. They funded research to cure diseases that didn't make money, but improved life and socially had a giant impact for a group. They felt an obligation to their community and their country in one way or another. Just think if each of these families adopted a school in a poor area, or if they cleaned up the Gulf coast, etc. They seem to be short of creative idea and but awash of monies. How do you raise an ethically and morally compassionate child in that environment.
The article didn't mention any philanthropic endeavors. One can only hope that they give as much as they take. But percentage wise, the poor usually give more.
An update that unmasks the missing morality
"From where I stand, the issue of same-sex marriage is not at the base of U.S. decline today. At the base of U.S. moral deterioration today is political oligarchy, corporate greed and the complete breakdown of the kind of morality that is not only social but civil and Christian. That kind of morality, unfortunately, we haven’t seen for years, even from some of our moralists."
I was watching one of those house shows on HGTV the other day -- it was about mega-vacation log homes in the west. The narrator was breathlessly gushing about the $15,000 handmade chandeliers -- and there are 20 of them in the house! -- the expansive square footage, the faux-cowboy luxury interior design, the saunas and tennis courts, and movie theatres and billiard rooms. And they showed house after house after house. Appparently they're springing up all over the place.
All I could think was the Gilded Age is back, and now it's on TV.
Our major obsession with the market and short-term profits on miniscule up and down movements, while ignoring everything else as far as manufacturing and services goes will certainly hurt us in the long-term. Perhaps they could take some of those megabucks and put them back into society to help schools and educate fellow citizens.
How Long Will America Lead the World?
"The United States is still the dominant force in technology, innovation, productivity and profits. But Americans don't quite realize how fast the rest of the world is catching up."
You are looking at the fruits of our taxation policies, among other things. I wonder how many of those palaces will be demolished inside of 20 years.
Too bad more of the wealthy could not follow Warren Buffets example of philanthropy.
Excellent, love it!
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It is amazing how many people is becoming rich by corruption or by some other means, and that they dont help people how are actually struggling to survive, or struggling for not die of starvation.
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