I was practically brought up in “21,” and ate there regularly until I moved some years ago to the charming village of Reduced Circumstances. Those were the great days of Pete Kriendler, Sheldon Tannen, Walter, Mario and the rest. Among regulars Trump was considered B-list, no matter what he claims. http://pagesix.com/2017/08/06/donald-trumps-tall-tales-about-the-21-club/ Gosh! Guess who doesn’t rate a mention in the following report? http://www.nytimes.com/1987/02/15/magazine/making-old-21-young.html?pagewanted=all
These numbers add up to a pretty convincing brief for “activist” investing. https://www.bloomberg.com/graphics/2017-elliott-management/?cmpid=BBD080717_BIZ&utm_medium=email&utm_source=newsletter&utm_term=170807&utm_campaign=bloombergdaily
Been preoccupied with moving.
This is good. My favorite restaurant doesn’t allow Instagramming. http://www.bostonglobe.com/lifestyle/food-dining/2017/08/07/instagram-ruining-food-and-might-only-one-who-cares/GlZVsoSzmMKRpzrtenjfQN/story.html I give up! “Chef Chris Coombs will soon open a second branch of his South End steakhouse, Boston Chops, in Downtown Crossing, in the former Mantra space. It will have an Instagrammers’ table with its own special lighting system, for food photography.”
Anything and everything that Bacevich writes is worth reading and thinking about: http://www.unz.com/article/slouching-toward-mar-a-lago/ Such as: “The three presidents of the post-Cold-War era — Bill Clinton, George W. Bush, and Barack Obama — put these several propositions to the test. Politics-as-theater requires us to pretend that our 42nd, 43rd, and 44th presidents differed in fundamental ways. In practice, however, their similarities greatly outweighed any of those differences. Taken together, the administrations over which they presided collaborated in pursuing a common agenda, each intent on proving that the post-Cold-War consensus could work in the face of mounting evidence to the contrary.” Or this:
“By extension, Americans should come to see as intolerable the meanness, corruption, and partisan dysfunction so much in evidence at the opposite end of Pennsylvania Avenue. We need not wax sentimental over the days when Lyndon Johnson and Everett Dirksen presided over the Senate to conclude that Mitch McConnell and Chuck Schumer represent something other than progress. If Congress continues to behave as contemptibly as it has in recent years (and in recent weeks), it will, by default, allow the conditions that have produced Trump and his cronies to prevail.”
Moving: boxes, boxes, boxes. 254 boxes of books, essentially the entire library I have built up over 60 years, will soon (this coming Mon.) be on their way to Brooklyn College.
This is what I was getting at when I worried on this website about the disproportionate portion of US GDP (and the obscene portion of Silicon Valley GDP) devoted to the manufacture of distraction. https://www.nakedcapitalism.com/2017/08/flagging-productivity-growth-how-much-is-due-to-bad-management-to-blame.html
We need more of this kind of thing: http://dealbreaker.com/2017/08/the-ceo-of-adp-went-on-television-to-sht-all-over-bill-ackman/?utm_source=hs_email&utm_medium=email&utm_content=55176677&_hsenc=p2ANqtz-8GSsmfg2l7YCZOBSyNQqeejHsIaUwZYXE19dLZTZikCALs2GXYEP_fs6FC4pVbv-Pg3V_d9Kz60XEEdKvB1iqxo2_Fkw&_hsmi=55176677
In my experience, the kind of blustering militaristic braggadocio that Trump has been dispensing from the bully pulpit is rooted in physical as well as moral cowardice. The sort of stuff you expect from a proven draft-dodger and congenital liar. I’m constantly reminded of that ludicrous photo of Trump with his parents when he attended a military school of the kind that used to advertise in the back pages of The NYT Magazine, all spit-and-polish, Duke of Plaza-Toro “leading from behind” stuff, the strap of his shako under his nose, the very personification of what Thomas Paine meant by “the summer soldier and sunshine patriot”(a phrase I’ve quoted before).
Kunstler and Dizard make good points: first, Kunstler: http://kunstler.com/clusterfuck-nation/battle-of-the-behemoths/ Quote: The condition that will flavor events going forward is scale. Everything organized at the giant scale is going to fail. We have made all the systems of daily life too large and they will not function in the long emergency (and the fourth turning), an age characterized by universal contraction. This is true of corporations, institutions, schools, hospitals, farms, governments, virtually all organized enterprise. Now Dizard on how the shortage of “ethically sourced” cobalt could affect Tesla, especiall conssidering how sanctimonious a figure Musk cuts : https://www.ft.com/content/16436eea-7dcd-11e7-9108-edda0bcbc928 Basic Point: There is not enough cobalt production from existing mines, or mines under construction, to meet the demand projected by Tesla along with Chinese and European auto manufacturers over the next five years.
Offered without comment – other than a snicker with a bit of a nod: http://www.unz.com/ishamir/bring-me-the-head-of-jeff-bezos/