Monday, June 20, 2011

Monday Morning Ramblings

The FT had an interesting article in the weekend edition commenting on "Now the Rich are Always with Us ... ".  Your humble blogger has complained about this modern phenomena before:  business news seems to spend an inordinate amount of time on the lives and attitudes of billionaires.  The article expanded that to the multimillionare sports and entertainment figures who get massive coverage in many media outlets. 

I tried to find the article in FT Online to provide a link, but failed.  Here's a quote. "The global elite has grown fantastically rich in recent decades: the average person on the Forbes's list pocketed an estimated $45m last year.  Consequently, we're forever reading about rich people.  Indeed, being rich has become almost the criterion for being newsworthy."

All this will eventually lead to trouble, bigtime social trouble.  In the US situation, the nation simply can't continue the 40 year process of all the benefits of productivity increases going to the upper income stratae.  The commonly spoken economic "cures" have failed the plain people (borrowing Lincoln's term for the "common man".  Yet we still hear that bloviation daily. 

Obama is doing nothing; his economic team has failed.  Only Ben has kept the US out of an endless recession, but Ben is now unable to move the economy forward.  His shells are now simple maintenance mode.  The massive public policy and public sector anchors prevent growth now.

The US needs real reform.  Policy makers:  read my prior blogs.

Word of the Day

"Parrhesia" - noun [$1000] Rhetoric [from Greek], seen in the FT weekend edition.
Parrhesia means 1. free-spokenness, frankness; freedom of speech; 2. [from FT] the ability to speak one's mind when doing so involves social risk.
Sentence:  Your humble blogger, Bunkerman, excells in written parrhesia.  An example:  the US has too few jobs because the US overtaxes jobs.  The Ruling Class uses taxes on jobs to keep the plain people more plain, while clamoring for lower taxes on capital.


Spin-em said... bros birthday Saturday...takin him golfin at a casino...after golf and drinks..I want to give him 1 bet as a present(instead of draggin it roll.1 spin, or 1 hand...whats the best % game would you make the call and it will be

Bunkerman said...

give him a bet on the pass line at craps and full free odds to back it up.

in Vegas, they give you 3-4-5x free odds.


$100 on pass line, then if a point comes up, give him

$300 free odds bet for 4 or 10
$400 for 5 or 9
$500 for 6 or 8

This gets house take to small fraction of 1%. This is a full play at craps.

Bunkerman said...

I don't know free odds standards in eastern casinos - have only played Vegas.

Bunkerman said...

the 4 or 10 point pays 2:1
the 5 or 9 point pays 3:2
the 6 or 8 point pays 6:5

Bunkerman said...

the "no pass" is awee bit better, and would let you bet a fix amount.

lay $100 on no pass line.

The lay free odds on point.

So for $100 no pass, the free odds lay bet is always $600.

(making $700 total risk)

Spin-em said...

lol..OK I have to figure out what you just said...but I want to do it..lmaooo

Bunkerman said...

just ask one of the dealers how to do it ... and give him a tip if it wins.