I won’t be the one to question the Oscars. Instead I’ll be the one asking “What’s Entertainment?”
On the surface, a foolish question. But when I read how “If the LA Times hadn’t broken an embargo in 1940, the Oscars envelope mix-up might have never happened,” it occurred to me that we live in a super-strange world when an “envelope mix-up” is news.
It is yet-another “Who Cares?” as far as we can figure it. So were the comments of the recip’s.
What IS fascinating is that a) we are in a 1920’s-mirroring stock bubble and b) were people at the end of the Roaring Twenties as crazy as we are? Perhaps watching this “stuff” called “entertainment” will teach us a thing, or three.
One to keep an eye on is how we define “work.” (More on this is the Coping section in a jiff…)
You see, people did have easy-flowing money back in the run-up to the Great Depression, much as we have now.
But the media’s near total fixation on the Oscars last night gets me warmed-up to the point:
“The 1st Academy Awards ceremony, presented by the Academy of Motion Picture Arts and Sciences (AMPAS), honored the best films of 1927 and 1928 and took place on May 16, 1929, at a private dinner held at the Hollywood Roosevelt Hotel in Los Angeles, California. AMPAS president Douglas Fairbanks hosted the show. Tickets cost $5 (which would be $69 in 2016 considering inflation), 270 people attended the event and the presentation ceremony lasted fifteen minutes. Awards were created by Louis B. Mayer, founder of Louis B. Mayer Pictures Corporation (at present merged into Metro-Goldwyn-Mayer). It is the only Academy Awards ceremony not to be broadcast either on radio or television.”
This Wikipedia entry is nearly current. The 2016 price conversion is actually $69.78 which would round to $70. Moreover, the unadjusted 12-month CPI All Items Index was up 2.5% January of this year, compared with 2016 so the “today” cost of that 1929 ticket would be more like $71.54…which would round to $72…
Don’t want to run off into the weeds, though, because my point about the rhyme we’re in has everything to do with excess capacity, the services economy imploding, and the generally fat, dumb, and happy mind set of “The Peeps.”
Anyone who patronizes ANY of the Trump-bashers who mouthed off last night ought to do a bit of soul-searching.
But it’s not just Trump. Mental acuity is on an extended vacation generally.
Take the story making the rounds today about how one of the “leaders” of the upcoming “Women’s March” is a convicted terrorist…and another was convicted of supplying guns used to kill a judge in the 1970’s.
What we see is perhaps the long-term effects of excessive medication of the populace coming home to roost. Unable to see how we are being “spun” – and “joining the jingoists” plus our total immersion is non-essential, primarily useless cult-of-personality BS desperately trying to fill up the airwaves and what’s left of the newspaper world….well, let’s just say it’s not too surprising, is it?
With perhaps 10’s of thousands of “Oscar parties” being held – a kind of ritualistic “sheep dip” – we continue to look at the timeline of Flappers who were the previous Depression lead-in’s version of the LBGTQ’s of today.
Speaking of Sex (Another “Doh…”)
Did you see the BBC story about how “Straight women have fewest orgasms?” The abstract of the underlying study says, in part “Heterosexual men were most likely to say they usually-always orgasmed when sexually intimate (95%), followed by gay men (89%), bisexual men (88%), lesbian women (86%), bisexual women (66%), and heterosexual women (65%).”
Any of this surprising?
It’s one of our favorite axioms that “achievement follows interest.” Hence, the more “time on task,” the more pleasure would logically follow. Working straight women with children are probably the busiest people on Earth. Who has time for sex?
When sex is “news” and we don’t see the obvious, I figure we’re all screwed.
Data, Data, Everywhere
Press release du jour is the Durable Goods report just out…
New orders for manufactured durable goods in January increased $4.0 billion or 1.8 percent to $230.4 billion, the U.S. Census Bureau announced today. This increase, up following two consecutive monthly decreases, followed a 0.8 percent December decrease. Excluding transportation, new orders decreased 0.2 percent. Excluding defense, new orders increased 1.5 percent. Transportation equipment, also up following two consecutive monthly decreases, drove the increase, $4.3 billion or 6.0 percent to $76.4 billion.
Shipments of manufactured durable goods in January, down following two consecutive monthly increases, decreased $0.2 billion or 0.1 percent to $238.3 billion. This followed a 1.6 percent December increase. Machinery, also down following two consecutive monthly increases, drove the decrease, $0.5 billion or 1.6 percent to $30.7 billion.
Unfilled orders for manufactured durable goods in January, down seven of the last eight months, decreased $4.0 billion or 0.4 percent to $1,114.3 billion. This followed a 0.7 percent December decrease. Transportation equipment, also down seven of the last eight months, drove the decrease, $5.6 billion or 0.7 percent to $752.9 billion.”
Following that, the market was slightly down.
Part of today’s flat-to-down action could be the third time is “not a charm” for a major European Stock Markets merger which seems to be hitting the skids.
It’s evidence to us that bigger is not always better…something many business owners fail to appreciate.
Later today, Dallas Fed numbers and pending home sales.
Tomorrow is Case-Shiller Housing data plus a GDP report, side order of International Trade and the Chicago Purchasing Manager’s Index (PMI).
Construction spending and personal income and outgo wanders through Thursday and Friday afternoon has a Janet Yellen speech on tap.
While I head for a pile of projects today, the fundamental problem we still haven’t addresses is the huge pile of dough that is just sitting around collecting dust: This as the Velocity of Money at M2 continues at never-before-seen sluggishness…
We don’t need to “Make America Great Again” so much as just wake-up the money and get it moving…