The Financial Times kicked off its "How To Spend It" section in 1967 as a single page in the Saturday issue (then called "A guide to good living"); the section grew to its own glossy magazine over the years, weathering lean years and good ones, and has found its niche half a century later, in an era of mass inequality as a weekly catalog of things that the super rich should buy to demonstrate their dominance over everyone else.
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In May 2014, 259 Islington homes changed hands; in May 2016, 139 houses were sold in the Borough: this May, it was 89. Read the rest
Movie stars, pro athletes, and rich people will no longer have to suffer the company of their lessers at Los Angeles international airport. For about $1,500 to $1,800 the elite will be dropped off behind closed doors, away from aggressive paparazzi and slack-jawed gawkers. They'll be whisked through security check points and greeted by security personnel trained to pay proper respect to their betters. Instead of dining at Sbarro and Wetzels Pretzels like the schlubs in the dingy terminals, they'll nibble on gourmet meals prepared by dedicated catering teams. Once it's time to jet off to Biarritz and St Bart's, they'll be whisked by car to the waiting plane.
The Guardian has more:
The Los Angeles Suite is modelled on the Windsor Suite at London’s Heathrow, which was once reserved for the royal family and visiting heads of state and diplomatic visits but opened up to those with big wallets in 2008 after the Foreign and Commonwealth Office (FCO) cut its funding. Now access is available for anyone for a minimum of £2,000.
The Heathrow VIP service offers personal shoppers to go out and brave the mayhem of duty free on behalf of guests and promises to take a firm approach with paparazzi. “Should we be aware of paparazzi at the airport or surrounding public areas, the airport team will request they cease and move on,” it says in its frequently asked questions.
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Political scientists and economists who've undertaken peer-reviewed research into policy outcomes have concluded that all over the world, and at every level of government, wealth inequality is correlated with corrupt policy-making in which politicians create laws and regulations that favor the rich at the expense of the wider public. Read the rest
The Guardian's story about wealth therapists, who help one percenters cope with the stress of being rich in an era of widening wealth inequality, features quotes from some really awful-sounding, clueless people who compare the plight of the wealthy to the discrimination experienced by black people. Read the rest
China's hereditary oligarchy is in its second generation, and the fuerdai -- rich kids born to rich kids -- are a national symbol for corruption and excess, splashing social media with evidence of their debauchery. Read the rest
The Canadian Conservative government's war on science, statistics and evidence have been a great boon to its ability to create policy that helps its friends and destroys the country, but the deep and arbitrary cuts to science and statistics have eroded Canada's ability to know what is happening in the country to a terrifying extent. Read the rest
The Leap Manifesto calls for a Canada remade as "a country powered entirely by renewable energy, woven together by accessible public transit, in which the opportunities of this transition are designed to eliminate racial and gender inequality." Read the rest
After decades of Blairite, New Labour politics that catered to banks, built out mass surveillance and attacked unions and the working poor, the UK Labour Party has elected a genuine left-wing leader, by a landslide: democratic socialist Jeremy Corbyn. Read the rest
The impoverished, corrupt former Soviet state has erupted over a banking fraud that saw $1B disappear from the system, presumably into the offshore accounts of President Nicolae Timofti and his elite cronies. Read the rest
A show conceived to help low-income kids keep up with their affluent peers will now be "paywalled so that rich kids can watch it before poor kids can." Read the rest
The former Texas GOP Senator testified that AT&T CEO Edward Whitacre was an "exploited worker," whose $75 million golden handshake proved "bigotry that is still allowed in America...bigotry against the successful." Read the rest
Jeff writes, "While reading Cory's recent post about leaving London reminded me more of the unaffordable real estate in Vancouver, British Columbia, it resembles some of the dramatic effects of Amazon and other technology companies driving incredible growth and development here in Seattle. Read the rest
The startup that will come to your house and put your trashcans out and bring them in again implies a dystopian world of entitled one percenters and vast, desperate piece-workers, but I never dreamed it would go as far as Here Comes the Airplane. Read the rest
When a giant hedge fund is bidding on all the foreclosed houses in a poor neighborhood, living humans don't stand a chance -- but that's OK, because rapacious investors make great landlords. Read the rest
Remember when Mark Zuckerberg declared that the age of privacy was over? Read the rest
The rules for tax on NYC condos is so sinister and stultifyingly boring that it's not really surprising that they disguise a raft of loopholes that let the richest New Yorkers duck the property taxes that keep the city running. Read the rest