Showing posts with label wealth. Show all posts
Showing posts with label wealth. Show all posts

Thursday, February 25, 2016

Buy your own portable island...

And a submersible yacht to go with it:
This man-made private island has a penthouse, helipad, and shark-feeding station
For about $40,000, you can purchase a private island in Maine. Of course, barring any natural phenomenon, you and your piece of land will remain residents of the Pine Tree State, because islands are pretty stationary … unless they’re man-made and mobile.

Submarine company Migaloo will custom-make you a private island with ridiculous amenities. Named the Kokomo Ailand (presumably after the island in Maui), the island is moveable, but forget about getting there fast and then taking it slow; the Kokomo only reaches speeds of eight knots (roughly nine miles per hour).

At 384 feet long and with a penthouse 262 feet above sea level, it’s no wonder you don’t want to zip around like a speedboat. The island is really customizable, and the features owners decide upon will determine its price, Christian Gumpold, Migaloo’s managing director, tells Huffington Post. Some of the add-ons include pools, decks, spas, helipad, waterfalls, outdoor movie theater, and a shark-feeding station. [...]
It's a pretty cool concept. I say concept, because I don't see and pictures of an actual one. The price tag and maintenance costs must be... well, certainly beyond my budget! And I have to say, the idea of "shark feeding stations" sounds a bit disturbing. I mean, WHAT do you feed them? Homeless people? The unemployed? I've heard that the rich are different, but, really... it sounds like a plot for a horror movie.

Follow the link for more pictures and videos, of the "Island" and the submarine/yacht. And embedded links and more info. It is cool. And the shark feeding stations are an optional feature. ;-)

     

Thursday, December 24, 2015

The Best Place to Live

10 best places to live in the world: Where does the U.S. fall on the list?
Norway has done it again.

The Land of the Midnight Sun was named as the best place to live in the world for the 12th year in a row in the United Nations Development Programme's Human Development Report.

Released today, the report includes an index that ranks 188 countries according to livability. Each country was given a score based on data in three areas: life expectancy, education and income-standard of living. [...]
I was a bit surprised by the #2 spot. Weather was not included in the ranking, but #2 has good climate as well, making it even more attractive.

Can you guess which country was picked as the worst?
     

Sunday, July 12, 2015

Are their different "flavors" of capitalism and socialism? What should we choose?

Is the pope stirring the pot for the communists?

In Fiery Speeches, Francis Excoriates Global Capitalism
[...] Having returned to his native Latin America, Francis has renewed his left-leaning critiques on the inequalities of capitalism, describing it as an underlying cause of global injustice, and a prime cause of climate change. Francis escalated that line last week when he made a historic apology for the crimes of the Roman Catholic Church during the period of Spanish colonialism — even as he called for a global movement against a “new colonialism” rooted in an inequitable economic order.

The Argentine pope seemed to be asking for a social revolution.

[...]

Francis has defined the economic challenge of this era as the failure of global capitalism to create fairness, equity and dignified livelihoods for the poor — a social and religious agenda that coincides with a resurgence of the leftist thinking marginalized in the days of John Paul II. Francis’ increasingly sharp critique comes as much of humanity has never been so wealthy or well fed — yet rising inequality and repeated financial crises have unsettled voters, policy makers and economists.

Left-wing populism is surging in countries immersed in economic turmoil, such as Spain, and, most notably, Greece. But even in the United States, where the economy has rebounded, widespread concern about inequality and corporate power are propelling the rise of liberals like Senator Bernie Sanders of Vermont and Senator Elizabeth Warren of Massachusetts, who, in turn, have pushed the Democratic Party presidential front-runner, Hillary Rodham Clinton, to the left.

[...]

Even as he meets regularly with heads of state, Francis has often said that change must come from the grass roots, whether from poor people or the community organizers who work with them. To Francis, the poor have earned knowledge that is useful and redeeming, even as a “throwaway culture” tosses them aside. He sees them as being at the front edge of economic and environmental crises around the world.

In Bolivia, Francis praised cooperatives and other localized organizations that he said provide productive economies for the poor. “How different this is than the situation that results when those left behind by the formal market are exploited like slaves!” he said on Wednesday night.

It is this Old Testament-like rhetoric that some finding jarring, perhaps especially so in the United States, where Francis will visit in September. His environmental encyclical, “Laudato Si’,” released last month, drew loud criticism from some American conservatives and from others who found his language deeply pessimistic. His right-leaning critics also argued that he was overreaching and straying dangerously beyond religion — while condemning capitalism with too broad a brush.

“I wish Francis would focus on positives, on how a free-market economy guided by an ethical framework, and the rule of law, can be a part of the solution for the poor — rather than just jumping from the reality of people’s misery to the analysis that a market economy is the problem,” said the Rev. Robert A. Sirico, president of the Acton Institute for the Study of Religion and Liberty, which advocates free-market economics.

Francis’ sharpest critics have accused him of being a Marxist or a Latin American communist, even as he opposed communism during his time in Argentina. His tour last week of Latin America began in Ecuador and Bolivia, two countries with far-left governments. President Evo Morales of Bolivia, who wore a Che Guevara patch on his jacket during Francis’ speech, claimed the pope as a kindred spirit — even as Francis seemed startled when Mr. Morales gave him a wooden crucifix shaped like a hammer and sickle as a gift.

[...]

The French economist Thomas Piketty argued last year in a surprising best-seller, “Capital in the Twenty-First Century,” that rising wealth inequality is a natural result of free-market policies, a direct challenge to the conventional view that economic inequalities shrink over time. The controversial implication drawn by Mr. Piketty is that governments should raise taxes on the wealthy.

Mr. Piketty roiled the debate among mainstream economists, yet Francis’ critique is more unnerving to some because he is not reframing inequality and poverty around a new economic theory but instead defining it in moral terms. “Working for a just distribution of the fruits of the earth and human labor is not mere philanthropy,” he said on Wednesday. “It is a moral obligation. For Christians, the responsibility is even greater: It is a commandment.”

Nick Hanauer, a Seattle venture capitalist, said he believed Francis was making a nuanced point about capitalism, embodied by his coinage of a “social mortgage” on accumulated wealth — a debt to the society that made its accumulation possible. Mr. Hanauer said that economic elites should embrace the need for change both for moral and pragmatic reasons.

“I’m a believer in capitalism but it comes in as many flavors as pie, and we have a choice about the kind of capitalist system that we have,” said Mr. Hanauer, now an outspoken proponent of redistributive government policies like a higher minimum wage.

Yet what remains unclear is whether Francis has a clear vision for a systemic alternative to the status quo that he and others criticize. “All these critiques point toward the incoherence of the simple idea of free market economics, but they don’t prescribe a remedy,” said Mr. Johnson, of the Institute for New Economic Thinking.

Francis acknowledged as much, conceding on Wednesday that he had no new “recipe” to quickly change the world. Instead, he spoke about a “process of change” undertaken at the grass-roots level. [...]
This pope has a strong history of being an advocate for the poor. I get it, and don't think anything is wrong with that. It's just that he seems out of touch with the modern world and how it works. He has spend so much time working with the poor, that it's all he sees; with out a more balanced understanding of the larger whole, and no clear plan for change... what is he doing?

Stirring up revolution against people who create wealth, calling for the redistribution of wealth, without any sort of plan as to how that should be done... how is that any different from the Communism of the past, that has wrought so much death and destruction? And when will the Vatican put it's money where it's mouth is, and return all the gold and priceless treasures they've ripped off from around the world?

Instead of cursing the darkness, why not light a candle? Why not focus on the more positive aspects of capitalism and how it can be used to lift people out of poverty, be used wisely and compassionately, steer the conversation in more constructive ways, rather than just painting all capitalists with a tar-brush and stirring the pot for communist revolutionaries? I think perhaps this pope, however well-meaning, doesn't have the broader perspective or the brain-power to be able to do that.

Here at home, we have Bernie Sanders and followers, wanting us to drink his flavor of Kool-Aid:

How Bernie Sanders plans to win, and change Washington
[...] In an interview on CBS' "Face the Nation" Sunday, Sanders said that the president ran "one of the great campaigns in the history of the United States of America" in 2008, but he also made a mistake by trying to negotiate fair compromises with Republicans and their leadership in Congress.

"The truth is Republicans never wanted to negotiate, all they wanted to do is obstruct," Sanders said. "What I have said throughout this campaign is electing Bernie Sanders as president is not enough. Not going to do it. We need a mass grassroots movement that looks the Republicans in the eye and says, 'If you don't vote to demand that your wealthy people start paying their fair share of taxes, if you don't vote for jobs, raising the minimum wage and expanding Social Security, we know what's going on, we're involved, we're organized, you are outta here if you don't do the right thing.'"

He plans to build that grassroots coalition by bringing more people into the political process and focusing heavily on poverty and income inequality.

"I'm going to be going around the country not only to blue states...but to red states, conservative states. We're going to go to Alabama, we're going to go to Mississippi," Sanders said. "I think the message that we have is resonating. People are going to get involved in the political process, we're going to drive turnout up and when we do that we win." [...]
He sounds like he's the one that doesn't want to negotiate anything. I'm always amazed when Democrats become outraged that the Republicans don't just roll over and play dead. As if it's a crime to disagree with them.

I agree with one of the comments below the article; we don't need any ONE group of people telling us all what to do and how to live.

Also in the comments, someone holds up Denmark and Germany as examples of socialism that "works"; should we, could we not follow them as examples of the way civilized people should live?

That's the progressive dream. It's tempting to say yes. If it works, why not?

Those particular countries have been very careful to maintain a balance between wealth re-distribution and fostering the conditions for the creation of wealth. And perhaps that IS the civilized thing to do. I just have doubts that the pope or Bernie really understand that balance. It's easy to advocate the redistribution of wealth. But if the people who create wealth no longer have the motivation to do so, the redistributed funds dry up, and when there are no more, then everyone ends up poorer.

Most of the nations around the world have overspent more than they have created. Until they demonstrate that they understand the balance between spending and wealth creation, I would not encourage their redistribution efforts. It will only end badly. Such stupidity CAN only end badly.

I've posted previously about the likely future of world economics and the needed flexibility of the new economic reality of the global economy in the Brave New World we are becoming. A good deal of "workable" socialism or socialist ideas may be built into it. If it works, then so be it. Perhaps it will be true progress. It's just that, where will it lead us, unless we are VERY careful?

Every communist I've ever known (and I've known quite a few) has told me that socialism is not an end goal in itself; it's merely a stepping-stone to communism. Socialism gets people used to the idea that the government has the right to redistribute wealth and control people's lives for "the greater good". Once the people become dependent on the government for their needs, then democracy and capitalism and be abolished as "unnecessary", and the government can own and run everything. Which is essentially, one group of people telling everyone else what to do and how to live.

But, people could get "stuck" on socialism that "works"; they get too comfortable, and stop "progressing". The communist's answer to that is to overload the system till it no longer works; destroy the balance, keep spending until the system collapses. Capitalism can then be declared "dead", and replaced with communism. By then the people will be so dependent on the government and so fearful that they will gladly trade freedom for security. And if history is any indication, they will end up with neither.

Communists are fond of saying that "real" communism has never been tried. But that's not true, it has been tried, many times, and every time it's killed a lot of people. That kind of control goes against human nature, and the only way to enforce it is to kill lots of people. If we don't learn that lesson from history, we may be destined to continue repeating it. There may be different "flavors" of capitalism and socialism. But there is only one flavor of communism, and it's always deadly.

Perhaps we are destined for some flavor of socialism to dominate the Brave New Word our future is becoming. I can only say, it's a slippery slope. Perhaps it can be managed, but it would mean being forever vigilant of the dangers. Are we, the human race, up for it? Time will tell.



     

Sunday, August 10, 2014

Not another NYT opinion piece on "inequality"?

Yes. And no. It starts by talking about Thomas Pikety's book "Capital in the Twenty-First Century", which everyone is talking about and buying, but also not actually reading, apparently:

An Idiot’s Guide to Inequality
We may now have a new “most unread best seller of all time.”

Data from Amazon Kindles suggests that that honor may go to Thomas Piketty’s “Capital in the Twenty-First Century,” which reached No. 1 on the best-seller list this year. Jordan Ellenberg, a professor of mathematics at the University of Wisconsin, Madison, wrote in The Wall Street Journal that Piketty’s book seems to eclipse its rivals in losing readers: All five of the passages that readers on Kindle have highlighted most are in the first 26 pages of a tome that runs 685 pages.

The rush to purchase Piketty’s book suggested that Americans must have wanted to understand inequality. The apparent rush to put it down suggests that, well, we’re human.

So let me satisfy this demand with my own “Idiot’s Guide to Inequality.” Here are five points: [...]
I can't repeat the five points, without reproducing the whole article here, so you'll have to follow the link.

I don't normally post about these kinds of articles, because they are often filled with "class warfare" rhetoric and drivel. And this NYT opinion piece has it's share of that as well. It's ironic that the author chooses to call it the "idiots guide", when I think some of the things he says are pretty idiotic (especially the option about rich people and expensive cars. Isn't it possible that rich people by expensive cars, because they like them and can afford them? Duh!).

But the article does have some moderate views, and does have a lot of embedded links to back up it's arguments. So while I may not agree with the article as a whole, it doesn't mean that it doesn't touch on some interesting facts or ideas. I'm not against rich people. But if indeed only the rich are getting richer, it's worth looking at why, and understanding why and how. I don't believe in communist revolutions redistributing the wealth. But a rising tide that lifts all boats IS preferable to one that only lifts yachts. Most reasonable people would have no argument with that.

     

Sunday, June 29, 2014

People who say they "Don't care about money"

A recent example is the Clinton's daughter:

Chelsea Clinton: I tried to care about money but couldn't
The daughter of former President Bill Clinton and ex-secretary of state Hillary Clinton explained in a recent interview why she left lucrative professions and opted for working with her family’s philanthropic foundation. ‘I was curious if I could care about (money) on some fundamental level, and I couldn’t,’ she said.

[...]

Comparing her experience to the average millennial, the 34-year-old former first daughter defended jumping around to different careers — from consulting to a hedge fund to academia to journalism — before finding her true calling working with her parents.

“It is frustrating, because who wants to grow up and follow their parents? I’ve tried really hard to care about things that were very different from my parents … it’s a funny thing to realize I feel called to this work, both as a daughter and also as someone who believes I have contributions to make,” she continued about her reluctant status as a boomerang kid.

The Clinton name likely opened doors for the political heiress, including an eye-popping $600,000 annual salary for an irregular stint as an NBC special correspondent, but Chelsea insists her work speaks for itself.

“I will just always work harder (than anybody else) and hopefully perform better,” said Clinton, who along with former banker husband Marc Mezvinsky, purchased a $10.5-million Gramercy Park apartment in 2013. [...]
Didn't her parents spend $3,000,000 on her wedding? I wouldn't be surprised if she has a trust fund, too. I doubt she ever has to worry about becoming homeless.

Given that she has more than enough to live comfortably, perhaps what she means is, she doesn't wish to work hard trying to earn more, because she already has enough? That she doesn't care about striving for more cash?

That would be understandable. But it's not quite the same as not caring about money. It's not like she's giving it all away, and becoming a renunciant with a begging bowl or anything. In fact, I find that people in her income class usually do care, and take steps to hang on to their money. Her parents have:

Wealthy Clintons use trusts to avoid full estate tax they back
Bill and Hillary Rodham Clinton have long supported an estate tax to prevent the United States from being dominated by inherited wealth. That doesn't mean they want to pay it.

To reduce the tax pinch, the Clintons are using financial planning strategies befitting the top 1 percent of U.S. households in wealth. These moves, common among multimillionaires, will help shield some of their estate from the tax that now tops out at 40 percent of assets upon death.

The Clintons created residence trusts in 2010 and shifted ownership of their New York house into them in 2011, according to federal financial disclosures and property records.

Among the tax advantages of such trusts is that any appreciation in the house's value can happen outside their taxable estate. The move could save the Clintons hundreds of thousands of dollars in estate taxes, said David Scott Sloan, a partner at Holland & Knight L.L.P. in Boston.

"The goal is really be thoughtful and try to build up the nontaxable estate, and that's really what this is," Sloan said. "You're creating things that are going to be on the nontaxable side of the balance sheet when they die." [...]
All this posturing about not caring about money is easy when you have more than you could ever need, but IMO it rings hollow to someone whose annual income is only $11,000 a year. At that level, you HAVE TO CARE, and you know it, if you are reasonably smart and don't wish to be living in the streets.

I'm not envious of people for having wealth; who doesn't want to be better off than they are? That is perfectly natural, and I'm glad for people who manage to do it, because I want to be better off too. But it does grate when those who have so much more talk about being "broke" when they never were, like Hillary does, or not caring about money, like her daughter. Couldn't they be more honest? And shouldn't we insist that they are? Especially if they involve themselves in making laws about what is to be done with OUR money?