What is St. Louis like?

People from my town of St. Louis are going ape-shit thinking that the national spotlight will come to our city along with the All-Star Game. It's really sounding like mega-insecurity to me. If you're really proud of your city, then be proud. You shouldn't need some sports announcer to say a few nice things about one's tourist attractions between pitches in order to feel validated. And if that sports announcer's opinion is so important, let's make sure that he takes a tour of our decaying city schools before the baseball game so that he can give the national sports audience an informed opinion or two on that, between pitches. And, really, what's more important if you had to choose between having first rate tourist attractions and a first rate school system? But my ambivalence leads to an important question. What is St. Louis really like? I've lived here all my life, and there is much to like about our city (as well as many things that need much improvement). Rather than write my own lengthy description of St. Louis, I'm going to refer you to this well-written balanced account by Alan Soloman of the Philadelphia Inquirer. What should we be thinking about St. Louis as the All-Star Game approaches? Here's Soloman's ominous opening, although his article eventually veers to many of the positive aspects of my river city.

The Gateway Arch, symbol of the place, and the museum beneath it represent the nation at its swaggering best, symbols of a Western expansion that would define us in so many ways. That we're talking about St. Louis - a city that's seen its share of rough times and that, like the country, isn't exactly in swagger mode right now - in a way adds particular power and poignancy to this year's celebration.

For another angle on how St. Louis is doing, check out this article in The Riverfront Times, where the author asks whether the recent efforts to beautify St. Louis amount to "putting lipstick on a pig."

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Celebrating a good divorce

Arianna Huffington is on vacation with her ex and their two daughters, having a great time. She is celebrating the relationship she has developed with her ex, going so far as to note the 12th anniversary of their divorce. It's an interesting read, no doubt applicable to millions of divorced parents:

The surest sign that my ex and I have reached a better place is a newfound willingness on both our parts to not let our pet peeves get in the way of our having a good time. Even in the happiest of marriages, there are little things that each partner does that inevitably set the other one off. These annoyances are magnified ten-fold when you are no longer together as a couple -- which is why making an effort to avoid them is one of the secrets of a good divorce.

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Pretentious luxury on the cheap at the Drake

What gives with these fancy hotels? [Warning: Rant thinly disguised as objective information] My wife and I live in St. Louis Missouri. Yesterday, we decided that I should take my two daughters to Chicago in early August, so today I made some arrangements. Now time is money--I don't want to be driving into downtown Chicago from a cheaper suburban hotel every day, wasting time sitting in traffic, when we should be spending every waking moment at Chicago's world-class museums and aquarium. Therefore, I set out to get accommodations right in the heart of Chicago. Knowing that this could be quite expensive, however, I did a bit of shopping through some frugal travel websites. I ended up at Priceline.com, the site where William Shatner's puffy image beckons me to come on in and save money (here I am being judgmental because Captain Kirk let himself go to pot). At Priceline, I saw that one could pick a hotel in downtown Chicago and pay anywhere from $150 to $500 per night. None of that for me! I decided to bid on a hotel room. For those of you who have never bid on a hotel room, the Priceline system offers substantial savings to you if you're willing to bid on a hotel room in a specific region of a city without knowing the name of the hotel that you will be assigned (assuming that your bid is high enough to purchase any hotel room at all). I indicated that I was willing to pay $100 per night for a 3 1/2 star hotel room in "zone five" of downtown Chicago. I figured that my modest bid would probably be rejected, but I was wrong. I had successfully purchased several nights at the Drake Hotel, which is just north of the Water Tower on The Magnificent Mile. Before placing the winning bid, I didn't know anything at all about the Drake Hotel, so I visited the Drake's site. You'll see lots of images of the kinds of carefree and well-to-do people who burn their money at the Drake. Many of the pictures at Drake website made me think of politicians hanging around with their mistresses. I saw that rooms typically range in price from $250-$350 per night. Sounds like I got quite a deal, right? Actually, the Drake is doing us all a service by charging a such outrageous prices (well, charging every body else such outrageous prices). They are making sure that when we stay there, that we are safely secluded from the riffraff, because the riffraff cannot afford to stay there. Extremely clever.

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What we buy versus what makes us happy

Geoffrey Miller has just published a new book, Spent: Sex, Evolution and Consumer Behavior. I haven't read it yet, but I am now ordering it, based on Miller's terrific prior work (see here, for example). In the meantime, I did enjoy this NYT blog review of Spent, which includes this provocative question:

List the ten most expensive things (products, services or experiences) that you have ever paid for (including houses, cars, university degrees, marriage ceremonies, divorce settlements and taxes). Then, list the ten items that you have ever bought that gave you the most happiness. Count how many items appear on both lists.

If you're looking for simplistic answers, you won't get them from Miller. I won't spoil the answers he obtained or his analysis of those answers, but you'll find them here. [addendum] I found this one item refreshingly honest. Refreshingly, because I know a lot of parents, I see their faces, I hear their complaints (and their exhultations). I know that it's PC to say that having children is a continuous wonderful joy and that all parents are glad they did had children. Miller's research suggests that the answer is not this simple:

[Here's an answer that appears [much more on the ‘expensive’ than on the ‘happy’ lists [includes] Children, including child care, school fees, child support, fertility treatments. Costly, often disappointing, usually ungrateful. Yet, the whole point of life, from a Darwinian perspective. Parental instincts trump consumer pleasure-seeking.

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Matt Taibbi goes to war against Goldman Sachs

Rolling Stone's Matt Taibbi is one of my heroes. I've often recommended his investigative pieces at DI. Taibbi's latest Rolling Stone article is an all-out attack on Goldman Sachs as the culprit behind the bubbles and busts. No, they don't "just happen." [Note: the full article is here]. No, Goldman Sachs isn't the only culpable entity, but Goldman serves well as a deserving target for the kinds of criminal abuses that have destabilized the U.S. economy and crushed the savings of so many people. Here's one example of many by Taibbi, this one explaining how it was that so many shitty mortgages were approved by lenders across the United States. Step One for this problem (as it is for so many other problems with the economy) is to eliminate sane standards for evaluating the economic worth of commodities, individuals and entities. The first step has the intentional function of destroying the possibility of honest valuation, thereby setting the stage for confusing and misleading investors:

Goldman's role in the sweeping global disaster that was the housing bubble is not hard to trace. Here again, the basic trick was a decline in underwriting standards, although in this case the standards weren't in IPOs but in mortgages. By now almost everyone knows that for decades mortgage dealers insisted that home buyers be able to produce a down payment of 10 percent or more, show a steady income and good credit rating, and possess a real first and last name. Then, at the dawn of the new millennium, they suddenly threw all that shit out the window and started writing mortgages on the backs of napkins to cocktail waitresses and ex-cons carrying five bucks and a Snickers bar.

Beware, that if you watch the videos of Taibbi explaining this blatant robbery of investors and taxpayer, as well as the Democrat complicity with this mess, you will seethe. You will feel betrayed.

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