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      Right, with the ban on Huawei using chips made with American manufacturing equipment (one of America’s last few places of absolute advantage); the bans of TikTok, Tencent and WeChat; the attempt to convince other countries to not use Huawei 5G; the arrest of the Huawei founder’s daughter for doing business with Iran along with the […]
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When Rich People Whine

Chrystia Freeland writes about the bellyaching of the SuperRich in the latest edition of the New Yorker.  In it, some rich people think they can’t get no respect and Al Gore gives some really, REALLY bad advice:

In the letter, Cooperman argued that Obama has needlessly antagonized the rich by making comments that are hostile to economic success. The prose, rife with compound metaphors and righteous indignation, is a good reflection of Cooperman’s table talk. “The divisive, polarizing tone of your rhetoric is cleaving a widening gulf, at this point as much visceral as philosophical, between the downtrodden and those best positioned to help them,” Cooperman wrote. “It is a gulf that is at once counterproductive and freighted with dangerous historical precedents.”

At the dinner, Al Gore was diplomatic when presented with the letter, and asked Cooperman if he would accept higher taxes. Cooperman said that he would—if he was treated with respect, and the government didn’t squander his money. Cooperman asked Gore what he thought the top marginal tax rate should be. Gore’s reply was noncommittal, but he pleased the group by suggesting that no matter who wins in November the victor should surround himself with advisers with experience in the private sector.

No, no more private sector advisors from the MBA management class.  They’re absolutely the last people who need to give more input.  Instead, the winner should solicit advice from people whose careers and industries have been wrecked by those private sector parasites.  At least get both sides of the story.

But it’s this bit that’s bound to get the most attention in the blogosphere:

During another conversation, Cooperman mentioned that over the weekend an acquaintance had come by to get some friendly advice on managing his personal finances. He was a seventy-two-year-old world-renowned cardiologist; his wife was one of the country’s experts in women’s medicine. Together, they had a net worth of around ten million dollars. “It was shocking how tight he was going to be in retirement,” Cooperman said. “He needed four hundred thousand dollars a year to live on. He had a home in Florida, a home in New Jersey. He had certain habits he wanted to continue to pursue.

“I’m just saying that it’s not an impressive amount of capital for two people that were leading physicians for their entire work life,” Cooperman went on. “You know, I lost more today than they spent a lifetime accumulating.”

Most of the people I worked with had more education under their belts than physicians, worked just as hard to make life saving discoveries and never dreamed of being able to sock away $10 million bucks.  The didn’t go into it to get rich but they still have to live in their retirement after working a lifetime in America where their vacation and leisure time is minute compared to the rest of the developed world.  I swear, these people won’t be satisfied until we agree to work for nothing and are grateful for it.

And what’s with this crap about how we need to treat Mr. Cooperman and his buddies with more respect?  WE’RE the ones who deserve more respect. Paying your taxes is not a favor.  It’s a responsibility. And if Cooperman gets to call the shots to make sure his money isn’t squandered, we should all have that same right.  No more expensive wars, no more faith based initiatives, no more oil subsidies and no more bank bailouts. Has Mr. Cooperman seen how the French show respect to selfish piggy rich people who sit on piles of cash?

That last gesture simulated a knife cutting open the throat.  The French have a history, you know.  They don’t fuck around.  We could learn a lot from the disrespectful French.

 

Versailles

Brooke is studying the French Revolution this month.  I told her that Charlotte Corday and the death of Marat would make a pretty good essay topic.  Then I realized that the guy was essentially a blogger who was murdered in his bathtub.  Ok, he was a nasty blogger who let things get out of control. He was more like Glenn Beck. Then I get all philosophical about the ethics of committing crimes to prevent even bigger ones, like Dietrich Bonhofer did during WWII, and she gets that “Ok, I’m bored now” look on her face.   Uh, nevermind.  Start at the beginning, go all the way to the end and, then, stop.

The French were pissed off over bread.  The Romans at least got that right.  Never keep the rabble hungry for bread.  But I digress.  Anyway, the roots of the French Revolution had something to do with a really bad financial collapse.  The tax system was a mess with the lower classes bearing the burden and the aristocracy getting away with murder.  There were some bad harvests.  The king was inept.  Not necessarily a bad man.  He just felt entitled.  Oh, sure, there had to be reform but it couldn’t go too far.  He was the king after all and he had the last word.

The Bastille fell in July 1789.  There was rioting on and off throughout the summer.  But the rabble definitely wasn’t going away.  It wasn’t until one night in October 1789 that a mob of women got to Versailles and the royals scrambled from bedroom to bedroom in a panic.  The monarchs left the palace and after a couple of years of factional fighting, The Terror began in earnest.

The Terror.  What a waste.  Thousands of lives lost, rivers red with blood.  Fear, chaos, instability.  It makes you wonder why any king would let that kind of pressure build up over 4 months to result in the country essentially eating its own for several years afterwards.

I saw Mubarek’s face on the frontpage of the NYTimes site, a face only a mother could love and a poster child for Grecian Formula and wondered, what the hell is he thinking?  He’s 82 years old for god’s sakes.  As one commenter said, it’s the ego of a man pampered by 30 years of power who thinks that only he can stabilize Egypt and the middle east.  In fact, he’s doing quite the opposite.  The people of Egypt want him gone.  A week ago, Mubarek stepping down might have been enough to turn the boiling pot down to a simmer, buying the region enough time to put together an interim government.  Now, it looks like all Hell is about to break loose.

But Mubarek must have the last word and he’s not going.

I’ve read that the protestors are starting to move on the presidential palace.

Those kinds of things never end well.