Discussion: Bloomberg Businessweek Goes Tabloid For 'Pikettymania' (PHOTO)

Discussion for article #223275

I guess the truth hurts!! I have not read the book but several people have and I am sure the business world is reeling.

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The guy hit the nail on the head. And it hurts. I have not had a chance to read it, but if the book demonstrates statistically what Obama has been saying for years, it has my vote.

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Isn’t Bloomberg a wall street apologist??? Any thing to distract from the truth…

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McArdle does the story???
I put the over/under line for factual errors at 10…

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Bastille, the new Hitler…

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It shows the absolute cluelessness of the aristocracy (0.01%) and their butt-monkeys at Businessweek, that the chosen “journalist” (I use the term VERY loosely) would equate it with the mobs storming the Bastille at the beginning of the French Revolution, which happened due to the extreme Wealth Inequality, which is what Piketty is talking about in his book.
Typical “let them eat cake” comments by the Oligarchy-enablers at Businessweek.

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Wow…Bloomberg not wanting people to realize that the rich don’t trickle anything down but urine and crap?

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Consider that Upton Sinclair’s 1906 novel, The Jungle, a sensational work intended to bolster the Socialist movement, sparked labor and meatpacking reforms. It may very well require bright and shiny packaging to relieve the constipation that these United States has been suffering for so long.

“I advise without hesitation and unreservedly against the publication of this book which is gloom and horror unrelieved. One feels that what is at the bottom of his fierceness is not nearly so much desire to help the poor as hatred of the rich.” ~McMillan consultant, circa 1905

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I was never fond of the guillotine, but these modern day cake-eaters are softening me towards it. Maybe just one head on a pike to send a message?

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Looks like someone hit a nerve…

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I know that when the the idiocy of these fuckers drive the masses to revolution, they’ll come after people like me once they’ve run out of people who truly had it coming to behead. At this point, I only ask that I get to see McMegan take her tumbrel ride before I take mine.

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I want to see Karl Rove squeal like a pig as he’s being introduced to the People’s Razor.

It’ll be worth losing mine in the blowback from the proceeding Reaction.

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This follows Gandhi’s statement perfectly:
“First they ignore you, then they laugh at you, then they fight you, then you win.”
This is the “Then they laugh at you” part of it.
The food riots in the streets in 10 years will be the “Then they fight you.” part.
The new “American Revolution” “they decide and the shotgun sings it’s song…” (kudo’s to The Who) will be the last part. “Then you win.”

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I have a background in political economy (I’m sure I’m not alone); however, I work in the corporate world.

In the business press, this type of snark is good for what snark is always good for: a ready laugh, quickly forgotten and disposable. The dark side of the business press is what happens when reality gets turned on its head. (I almost laughed at how despondent some of my colleagues became when the 2012 Unskew The Polls movement didn’t bear fruit.)

However, approaching it from the political side, this is a weak rebuttal. If people center in on Piketty as a personality, this type of issue marginalization by proxy could prove effective. But Piketty has hardly been blowing up on American television (via interview anyway).

I think the people who find this cover most satisfying could end up surprised and hurt once again if this line of attack, centered on a cult of personality that barely exists even for one of the rare macro-analytic books to reach a broad audience, doesn’t end up resonating with people who don’t know what Barron’s is.

It’s a dangerous game for the people who feel most threatened by this research, the fringes of whom have issued statements that read like proto-tantrums about moving somewhere else or shutting down philanthropic pursuits (disproportionately directed to high-endowment status buffers like symphonies and universities, I’d wager).

These are the people who pay for private security in most of the countries in this world, living behind a walled compound patrolled 24/7 by one of a few local security firms. The U.S. doesn’t use shows of force when gates and doormen suffice, but if the pressure keeps building from below and snide mockery aimed at a dittohead audience firmly entrenched in protecting the status quo raison d’etre is the only counterpoint offered, the writers and consumers of the business press may find this lacking. (Not that government in the U.S. currently functions well enough to do anything about this building consciousness.)

And, like everyone whose temples got a little grayer at the thought that President Romney wouldn’t be guarding their portfolios and their cap gains tax levels, there will be agita about this behind closed doors. And by the time most people are aware of the iron fist behind the velvet glove, security forces will amass (in media if not the streets).

TL;DR: I think it will be dangerous self-delusion for corporate America to think they can laugh away Piketty’s analysis by making the story about a Frenchman they simultaneously marginalize. And if that strategy doesn’t work over a long time and the 0.5% see that, they will respond more aggressively than Americans (not news junkies – Americans) are used to seeing.

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Life can imitate art then: Karl Rove - long pig - Ham Rove.

Look into the source of the Bastille Day riot: A lone voice calling out from an insane asylum where he was wrongfully imprisoned – with six other prisoners. The metaphor is very apt, i.e., it will probably require insane sensationalism to penetrate the 21st century American psyche.

Billionaire publication attacks economist who reveals that wealth never trickles down and how the 0.01% are pillaging the world. How shocking. note the surprise in my Ben Stein-like delivery.

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The 'Karl Marx’s New Crush" addition is particularly ignorant and intellectually lazy, as Picketty has said he’s not a Marxist, disagrees with Marx on most fundamental issues, and is not advocating Marxist solutions to the problems he identifies. But, no matter; he’s raising awareness about the gap between rich and poor, so he must be a commie, right?

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Megan McArdle is an economist like Sam Wurzelbacher is a plumber. The question is why Michael Bloomberg is giving her his cover for a hit job against Piketty.

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