Lenny Dykstra was lauded for his heroics with the Mets and Philles. After his career, Dykstra became well-known as a post-career athlete success story. Then the truth started coming out... [more inside]
posted by reenum on Oct 27, 2009 - 22 comments

Maybe you shouldn't buy that.
posted by Brandon Blatcher on May 16, 2009 - 63 comments

The Most Expensive Journal blogs about $4,200 computer keyboards, $2.7 million guitars, and $11 million watches.
posted by Joe Beese on May 2, 2009 - 44 comments

Dating A Banker Anonymous Are you or someone you love dating a banker? If so, we are here to support you through these difficult times. Dating A Banker Anonymous (DABA) is a safe place where women can come together – free from the scrutiny of feminists– and share their tearful tales of how the mortgage meltdown has affected their relationships. Via
posted by ColdChef on Jan 28, 2009 - 167 comments

'You loser!" screamed Katie, aiming a vase at her husband. "You've destroyed my life,'' she continued, hurling it. "Just look at my hair, look at my nails! You loser, you jerk, you nobody."

Katie's husband, Jack, whose property portfolio disintegrated in the financial crash, had just told his wife that she would have to cut back on her thrice-weekly visits to Nicky Clarke, the nail salon in Harvey Nichols, and the oxygen facials, chemical peels and seaweed wraps at Space NK.
posted by plexi on Nov 28, 2008 - 91 comments

In 1943, while the Allies were busy battling the Axis Powers and the Nazi Regime, there was another kind of war that was being waged against a helpless populace (living on the Indian Sub-continent). A war that has been largely ignored by the mass media and the history books of our time. It is known as the Great Bengal Famine, and ended up causing the death of an estimated 1.5 million to 4 million people.
posted by hadjiboy on Aug 30, 2008 - 34 comments

Psychotherapy in the Age of Obscene Wealth
posted by Weebot on Jul 9, 2008 - 67 comments

The Sunday Times have published the 2008 edition of their annual Rich List. The full list of the 1000 wealthiest people in Britain is not online yet but they have published a list of the top 150 (pdf). So now you're richer than Croesus what do you spend your wealth on? [more inside]
posted by electricinca on Apr 27, 2008 - 28 comments

Livin' Large - To hear the Lou Dobbses and Bill O'Reillys of the world--not to mention politicians ranging from Ron Paul to Hillary Clinton--the middle class of America (however you define that term) has never had it so tough. Between credit squeezes, out-of-control immigration, rising costs of education and health care and everything else, it's all darkness out there for those of us who are neither millionaires nor welfare cases, right? (A video presented by Drew Carey and reason.tv)
posted by blue_beetle on Feb 5, 2008 - 120 comments

Shifting Sands. A great series from the Globe and Mail on the Alberta Tar Sands: An Empire Made of Goo, Black gold, Texas tea, The hollowing out of small Atlantic towns, Where rich and poor Albertas collide, Norway the gold standard for managing oil wealth, The climatic costs of rapid growth.
posted by chunking express on Feb 1, 2008 - 32 comments

40 acres and a mule has been a slogan of African-American economic aspirations ever since the legislation creating the Freedman's Bureau promised ex-slaves parcels not exceeding forty acres each, to the loyal refugees and freedmen. General William Tecumseh Sherman's Special Field Order No. 15 decreed that the land on slave plantations be seized and distributed to freed slaves, but Andrew Johnson rescinded the order and vetoed expansion of the Freedman's Bureau. Both Henry Louis Gates and Dalton Conley have associated the failure to grant freed slaves their "40 acres and a mule" with the wealth gap between black and white Americans, but now an economics grad student, Melinda Miller, has brought important quantitative data to the debate in a new research paper. [more inside]
posted by jonp72 on Dec 14, 2007 - 43 comments

How rich is rich? [more inside]
posted by anotherpanacea on Nov 27, 2007 - 53 comments

The Economic Consequences of Mr. Bush. "The next president will have to deal with yet another crippling legacy of George W. Bush: the economy. A Nobel laureate, Joseph E. Stiglitz, sees a generation-long struggle to recoup." [Via Firedoglake.]
posted by homunculus on Nov 18, 2007 - 70 comments

A new U.S. Treasury Report (press release) reports that tax returns from 1996 to 2005 show that income mobility in the U.S. is "considerable," with rising earnings, and top earners who often stumble. The WSJ crows. Pew releases its own research (reports, press release) on income inequality today with a multi-decade outlook, but summarizes the findings as that American families' income mobility is still highly dependent on their parents' position. Forbes and a The New Republic blog try to reconcile the reports. Meanwhile, blacks appear to be downwardly mobile.
posted by shivohum on Nov 13, 2007 - 45 comments

Mind the Gap: an essay by Paul Graham on wealth, riches, poverty, and why income inequality might not be so bad. [more inside]
posted by hoverboards don't work on water on Oct 11, 2007 - 139 comments

California Where the Rich do Fine While the Poor are Doing Time "Hell, you got to live with it, there's nothing else to live with except mendacity, is there?" Big Daddy, Cat On A Hot Tin Roof
posted by Rancid Badger on Sep 26, 2007 - 37 comments

Ocean Residences by Four Seasons is your own private apartment aboard a giant cruise ship (one of 112 similar apartments aboardship). For those afflicted with both wanderlust and an unimaginable amount of money, the online brochure makes a somewhat compelling case for having no fixed abode.
posted by jonson on Aug 27, 2007 - 40 comments

Bill Gates no longer the Richest private citizen in the world. In other news, Larry Ellison still doesn't have any eyebrows.
posted by delmoi on Jul 4, 2007 - 38 comments

Why we should not make mean log of wealth big though years to act are long (.pdf) by Paul Samuelson. (via)
posted by Kwantsar on Mar 13, 2007 - 22 comments

The Motley Fool's new CAPS stock-picking system keeps track of your stock picks and whether they outperformed or underperformed the market. Then everyone's picks are aggregated, weighted by the quality of their past records, to rank individual stocks. Here's how it works. (more inside)
posted by ikkyu2 on Oct 4, 2006 - 13 comments

As Labor Day 2006 winds to a close, America's long & twisted history with Organized Labor seems to never come to rest on any one side of the fence, opinion wise. While we hate the idea of the evil CEO crushing the employees underfoot, there's something profoundly un-American about bolshevikism. This excellent collection of political cartoons from Life Magazine from the early decades of the 20th Century explores both sides of the debate, reminding us at the end of the day that nobody loves a fat man.
posted by jonson on Sep 4, 2006 - 21 comments

Little Citadels. "Dine, shop, live, work, and be entertained in a unique and alluring environment," says the Time Warner Center website - all without ever stepping outside your gleaming Manhattan skyscraper. San Jose's Santana Row, which at first glance seemed no more than a Beverly Center you can live in, is now being compared favorably to urban European living. And MGM-Mirage's new, mysterious and costly ($7 billion!) Project CityCenter brings the trend to Las Vegas - with gambling, of course. They're not Arcosantis - and they don't, as yet, require an Oath of Fealty - but by all accounts they're thriving. What do they have in common? Wealthy tenants, megacorporate sponsors, and a shared desire to integrate efficient, conspicuous consumption into every aspect of civic life. Paolo Soleri may have been right after all - maybe he just forgot to account for the effects of capitalism.
posted by ikkyu2 on Aug 28, 2006 - 24 comments

What’s the best way to dispose of an accumulated fortune? Conventional wisdom tells us that you can’t take it with you. The inevitability of death has inspired otherwise ruthless men to contribute to the larger community with the goal of establishing a posthumous legacy. Carnegie built libraries. Bill Gates is working on global health initiatives. But the conventional wisdom on this matter could be wrong. And with that in mind, some wealthy men are choosing to turn themselves into cryonic popsicles and put their wealth in trust funds in the hope that at some point in the future, Science will be able to revive them.
posted by jason's_planet on Aug 21, 2006 - 52 comments

What it costs to live well in the United States. According to Forbes, living well for a family of four in New York City requires an annual income of $483,800, compared to $189,923 in Wichita, Kansas. Of course, living well, according to the methodology, involves a vacation home, a BMW 325i and a Lexus RX 330, weekends at the Ritz, and almost no savings, so you might want to skip one of these things if you are a few bucks shy. Also worth noting, the most expensive ZIP codes and houses in the United States (and the world). Are you living well?
posted by blahblahblah on Apr 25, 2006 - 83 comments

The Measurement of Poverty
posted by Gyan on Mar 29, 2006 - 6 comments

Bill Gates or Steve Jobs? Who is changing the world more for the better? Some people believe Bill Gates and Microsoft are the Spawn of Satan, while others praise him for his philanthropy. [subs. req'd] Steve Jobs has more buzz on the internets than Bill Gates and a near religious following for his products with Apple. One might not give like the other, but one definitely is much more Zen-like.
posted by Mijo Bijo on Jan 25, 2006 - 92 comments

I'm the 24,519,565 richest person on earth! According to the Global Rich List, which says I make more than 99.506% of the people alive today. Only 24.5 million people between Bill Gates & myself...
posted by jonson on Oct 21, 2005 - 90 comments

Being Poor ... what it actually entails. More from Body and Soul, and from Making Light, and from here's a whosit. And this article, in which ...they were trying to rescue people with a helicopter and the people were so poor they were afraid it would cost too much to get a ride and they had no money for a "ticket." Dupree was shaken telling us the story. He just couldn't believe these people were afraid they'd be charged for a rescue. ...
posted by amberglow on Sep 11, 2005 - 35 comments

$11.5 Trillion Lost In Bermuda Triangle In case you've ever wondered just how much money the mega rich keep nice and tax free in off shore shelters, it's $11.5 trillion.
posted by expriest on May 6, 2005 - 46 comments

How Rich is Too Rich For Democracy? At what point does great wealth held in a few hands actually harm democracy, threatening to turn a democratic republic into an oligarchy? It's a debate we haven't had freely and openly in this nation for nearly a century, and last week, by voting to end the Estate Tax, House Republicans tried to ensure that it wouldn't be had again in this generation. But it's a debate that's vital to the survival of democracy in America. In a letter to Joseph Milligan on April 6, 1816, Thomas Jefferson explicitly suggested that if individuals became so rich that their wealth could influence or challenge government, then their wealth should be decreased upon their death. He wrote, "If the overgrown wealth of an individual be deemed dangerous to the State, the best corrective is the law of equal inheritance to all in equal degree..."
posted by mk1gti on Apr 20, 2005 - 65 comments

1. Glom onto wannabe Hollywood scene
2. ???
3. Profit!

posted by NortonDC on Jan 28, 2005 - 18 comments

The Great American 'Garage Mahal' - cars, houses and garages of the American super-sized new affluent class grow ever larger : "three separate two-car garages attached to his $750,000 brick abode: one for his son Brandon, one for his wife, Janice, and one for him. His garages' many amenities include carpeting, cable TV, speakers wired to the home stereo system and a bathroom. "I've always liked garages and I don't think you can have enough of them," " Mr. Bernard said."
posted by troutfishing on Jul 21, 2004 - 25 comments

Where Wealth Lives
"The top 1% of families, as measured by net worth, receive about 15% of income but own 30% of the nation's assets -- including stocks and bonds, homes, and closely held businesses. That's according to the Federal Reserve's Survey of Consumer Finances. The top 10% of families, as measured by net wealth, own 65% of assets, and the top 50% own a stunning 95% of assets..."
posted by kliuless on Apr 10, 2004 - 23 comments

This Amazing Software changed my life... Then they asked me how they could get it for themselves. Imagine if you had a way to achieve the wealth you've always wanted. What if you could drift off to sleep knowing that happiness and good fortune was yours and it was as simple as clicking a button ? SpellKaster is the exciting new software that uses the advanced power of Radionic Energy to make all of your dreams and desires come true. [WARNING : RADIONIC ENERGY IS A POWERFUL FORCE. THIS SOFTWARE IS NOT TO BE USED FOR ANY MALICIOUS OR ILLEGAL PURPOSES.]
posted by azul on Feb 4, 2004 - 17 comments

Heinz Meanz Beanz: Is America ready for a sassy, intelligent, outspoken, wilful, foul-mouthed, irreverent, garrulous, domineering, flamboyant, freethinking and utterly charming First Lady?* Portugal certainly is - as Teresa Heinz Kerry, born Teresa Simoes Ferreira, is Portuguese and it would be nice to have a secret agent such a close ally in the White House. But there's also a lot of hate about. Do most American voters really take candidates' wives, husbands or partners into account? *Heh. The "utterly charming" was added at the last minute when I realized that all these adjectives could apply to Hilary Clinton.
posted by MiguelCardoso on Jan 26, 2004 - 57 comments

Just how rich are you? The worlds 225 richest people have a combined wealth greater than the poorest 2.5 billion people. Where do you fit into the picture? via b3ta
posted by carfilhiot on Sep 5, 2003 - 63 comments

Cal Professor John Ogbu thinks he knows why rich black kids are failing in school. Nobody wants to hear it.
posted by studentbaker on May 23, 2003 - 50 comments

The more you earn, the lower your IQ. That's the clear but unexpected result from the second National IQ test broadcast by the BBC. The test is still online if you are curious. The first test was discussed here. For a higher IQ, be an unemployed Irish man and drink too much.
posted by grahamwell on May 5, 2003 - 44 comments

Gifted Students Despite her boarding-school education and a personal tutor, Maude Bunn's SAT scores weren't high enough for a typical student to earn admission to Duke University. But Ms. Bunn had something else going for her -- coffeemakers. Her Bunn forebears built a fortune on them and, with Duke hoping to woo her wealthy parents as donors, she was admitted. Afterward, her parents promptly became co-chairmen of a Duke fund-raising effort aimed at other Duke parents. "My child was given a gift, she got in, and now I'm giving back," says Maude's mother, Cissy Bunn, who declines to say how much the family has contributed to the university.
posted by orange swan on Apr 11, 2003 - 59 comments

Soaking the Rich This post probably won't be very well received in this forum which is mostly consisted of lefties, but can you really justify stealing such a disproportionate amount from the rich?

Conventional wisdom holds, correctly, that income inequality has been increasing in recent years, though it still isn't as great now as in some past periods. But while incomes are distributed unequally, the federal tax burden is distributed far more unequally.
posted by VeGiTo on Apr 11, 2003 - 108 comments

Millionaires' Havens, Heavens And Hell Holes: Ghastly, depressing Monaco comes in for a deserved drubbing from Philip Delves Broughton in this week's Spectator. The idea of billionaires surfing the Web looking for a hide-out makes me giggle and gag, but it appears poor people can play too. Have a look at (free!) e-zine Escape From America; run your index finger down a list of tax havens and choose the paradise place you'd scarper off to, if your money problems, whether from excess or lack of money, ever become too [sorry...] taxing.
posted by MiguelCardoso on Nov 29, 2002 - 9 comments

Jiang outlines plans to make China wealthier Ah, Adam Smith in and K. Marx out. Brting on the Krispy Kreeme franchises. Bet there won't be labor unions in the near future but an economically powerful China plus the EU will give America some strong competition.
posted by Postroad on Nov 8, 2002 - 14 comments

Beverly Hillbillies, Redux! No... not a new movie, but a reality series under development by the shiny and shimmering Tiffany Network. CBS scouts are scouring for a "rural, rustically telegenic" family to be whisked to a brand new home in Beverly Hills, and have a life of luxury bestowed upon them for a period of a year... cameras following them all the way. Crass exploitation of the poor when the gap between rich and poor gets larger and larger? Fun idea to see what happens when someone's dreams come true? Somewhere in the middle? What do people think?
posted by tittergrrl on Aug 28, 2002 - 33 comments

The 50 richest members of US Congress, each with a net worth ranging from $3.3 mil to $675 mil. Looks like a mostly even mix among the parties, with a heavy California contingent.
posted by mathowie on Aug 13, 2002 - 29 comments

Plutocracy and Politics. Paul Krugman's musings upon reading Kevin Phillip's Wealth and Democracy: How Great Fortunes and Government Created America's Aristocracy, reviewed here by Bruce Reed of the Washington Monthly. Also, Three Questions For Kevin Phillips.
posted by y2karl on Jun 14, 2002 - 9 comments

I'm curious, isn't this exactly opposite of what we're being told? I'm always hearing the wealthy are benefitting somehow from GWB's new tax plan. I'm certainly no-where near the top 5%, and now I don't want to be.
posted by the_0ne on Apr 9, 2002 - 54 comments

Wealth Spawns Corruption. Socialist economies could be more at risk from corruption than Liberal ones. Ironically, wealth condensation poses the greatest danger to economies that impose constraints on the accumulation of great wealth - broadly speaking, Socialist economies. Liberal economies that maintain free and unrestricted trade are less susceptible.
posted by stbalbach on Jan 28, 2002 - 8 comments

Happiness has zip to do with money. Anyone heard of Geoffrey Miller? He has v. interesting things to say about the relationship between human nature, money and power. Here, he has another take on global anti-Americanism.
posted by theplayethic on Jan 17, 2002 - 21 comments

America the Polarized NYT's Paul Krugman says that Congress is polarized because Republicans have moved to the right, while Democrats have remained fairly constant. He (and a political scientist) attribute the change to economic polarization, the sharply widening inequality of income and wealth.
posted by pmurray63 on Jan 6, 2002 - 24 comments

House hunting for the rest of us. A 280 sq. m. Parisian apartment: FF20.5m. ‘Lazybones’ on St. Peter: $6m. ‘La Barakat’ on the coast of Portgual: $11.5m. James Island, Vancouver, Canada: $49.9m.
posted by raaka on Dec 9, 2001 - 18 comments