1/ This great series on high-end Manhattan real estate should be called "the banality of extreme wealth." nytimes.com/2015/02/08/nyr
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3/ They're clearly not dumb. Takes brains to engineer complex webs of money flows. But really this is the best use you can come up with?
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4/ Not that it matters that much, since money spent unimaginatively quickly finds its way to more imaginative types who sell to banal rich
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The condos, etc, are big-stores to park wealth in case money-itself collapses, i always thought
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Yes, and that's not actually very smart thinking. If money collapses, high-priced urban centers decay. Cf: Japanese in late 80s.
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the answer to Picketty is not policy, but for wealth to become invisible. Banality is legible as harmless.


