Bits and Pieces
Inflation: What the latest numbers mean to you
You have probably heard the Republicans criticizing the Biden administration for goosing up inflation. And you may not know if it’s true. Or, if it is true, how it happened – and, most importantly, what it means to you.
It actually means many things, and we’ll be talking about some of them in future blog posts. But for now, you should understand one very simple thing. America’s benchmark inflation index grew by about 6.2% for the 12-month period ending in October. And, unfortunately for savers, bank accounts paid practically zero interest this year. So though you may have the same number of dollars in your account as you had last year, the purchasing power of those dollars – i.e., what you can buy with them – has diminished at that same 6.2% rate.
But… the art market is surging!
However, if you own fine art, you’ve been the beneficiary of inflation. Not just monetary inflation, but a surge of demand among the ultra-wealthy that has sent the fine art market soaring. Click here.
Interesting Fact
I was surprised to learn that many of my favorite Christmas songs – pop standards from the 1920s to the mid-1960s that are included in what is now known as “The Great American Songbook” – were written by Jewish songwriters.
Some examples:
* “Rudolph the Red-Nosed Reindeer,” “Rockin’ Around the Christmas Tree,” and “A Holly, Jolly Christmas” by Johnny Marks
* “Chestnuts Roasting on an Open Fire” by Mel Torme
* “Let It Snow” by Sammy Cahn and Jule Styne
* “Silver Bells” by Ray Evans and Jay Livingston
And, of course…
* “White Christmas” by Irving Berlin
When Customer Complaints Were Taken Less Seriously
America’s sue-everyone-for-anything culture was in its infancy in 1974, when a sports fan wrote the management of the Cleveland Stadium to complain about a dangerous new audience “pastime.”
Gentlemen:
I am one of your season ticket holders who attends or tries to attend every game. It appears that one of the pastimes of several fans has become the sailing of paper airplanes generally made out of the game program. As you know, there is the risk of serious eye injury and perhaps an ear injury as a result of such airplanes. I am sure that this has been called to your attention and that several of your ushers and policemen witnessed the same.
Please be advised that since you are in a position to control or terminate such action on the part of fans, I will hold you responsible for any injury sustained by any person in my party attending one of your sporting events. It is hoped that this disrespectful and possibly dangerous activity will be terminated.
Very truly yours,
Dale O. Cox
Days later, Mr. Cox received the following letter in response:
(Source: Letters of Note)
Good (but Not Great) News
On October 7, I wrote about Julius Jones, an innocent man on Oklahoma’s death row. Jones was scheduled to be executed on November 18. But last week, thanks to the intervention of The Innocence Project, Oklahoma Governor Kevin Stitt commuted Jones’s sentence to life in prison without the possibility of parole.
I’m very happy that Oklahoma will not be executing Julius – but I also know that life in prison for a crime he didn’t commit is not a satisfactory solution.
If you’d like to pass along this news, you can do so here Twitter and here Instagram.
Meanwhile, South Korea is jumping on the “metaverse” bandwagon
The South Korean capital city is promoting itself as a digital city. The working title: “Metaverse Seoul.”
The goal is to “enable seamless interaction of citizens with the state.”
Among the planned features: digital cultural events, digital tourist sites, and digital avatars to handle (real or digital) official municipal complaints.
The city has invested 3.9 billion South Korean won (about 3.3 million US dollars) in the 10-year project.
Click here.
What’s with Beeple?
Mike Winkelmann, the digital artist better known as Beeple, was on Jimmy Fallon recently, talking about how he went from selling work for $100 to becoming one of the richest living artists in less than one year by selling his NFTs.
Watch the clip here.
Russell Brand talks about his purple belt
I know Russell Brand first as a comedian with a cool and quirky sense of humor, then as a surprisingly good actor, and recently as a social commentator – a dangerous thing to do, considering his other professions.
But I was surprised to learn that he is also a practitioner of Brazilian Jiu Jitsu (BJJ), something I’ve been doing as a sport and exercise for the past 25 years.
What distinguished BJJ from many other martial arts was, until recently, the ranking system. You could not buy or practice your way into a belt promotion. You received one only after proving yourself in competition with others in your rank.
Here’s Brand, explaining, quite movingly, what his purple belt means to him.
Speaking of wrestling…
Steve Ludwin, rocker, influencer, and world-famous expert in rejuvenation through snake venom injections, sent me this note:
Mark – I know you like wrestling. This was yesterday after my 55th birthday and I am very sore today.
Here he is, “wrestling” with one of his snakes to Shane MacGowan’s “The Snake With the Eyes of Garnet”…
3 Words I’m Trying to Work Into My Conversations
* Ineffable – from the Latin for “unutterable” – means incapable of being expressed in words. Example: “The beauty of a sunset is ineffable.” The word can also refer to something too taboo to be mentioned. (At one time, “ineffables” was a jocular euphemism for “trousers.”)
* A batten is a strip of wood nailed across parallel boards to hold them together. Thus, the nautical term “batten down the hatches” means to cover the hatches with a tarp and nail it down with battens to make it secure.
* Untoward (“not” + “toward”) means not having the inclination to or for something; unruly; difficult to manage. Example: “His untoward behavior forced the professor to banish him from her class.”