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	<title>Comments on: Showy spending</title>
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	<link>http://crookedtimber.org/2007/01/19/showy-spending/</link>
	<description>Out of the crooked timber of humanity, no straight thing was ever made</description>
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	<item>
		<title>By: No Longer a Urinated State of America</title>
		<link>http://crookedtimber.org/2007/01/19/showy-spending/comment-page-1/#comment-184741</link>
		<dc:creator>No Longer a Urinated State of America</dc:creator>
		<pubDate>Tue, 23 Jan 2007 19:36:14 +0000</pubDate>
		<guid isPermaLink="false">http://crookedtimber.org/2007/01/19/showy-spending/#comment-184741</guid>
		<description>&quot;A surprisingly large number of FT journalists used also to write for “Marxism Today”. I was never sure which direction was the entryism (or was it both?)&quot;

The FT did recruit journalists who belonged to the CP. 

The rationale is: back in the 1970s, there was a lot of industrial action in the UK, so having good reporting on labor &amp; trade union issues was at a premium. Journalists who were also CP members had a better in with the shop steward movement (&#039;cos a lot of the shop stewards were CP, although more the Tankie types than your MT Eurocommies) and so produced better reporting. So most of the FT&#039;s labor department were CP.

According to the CEO of a firm I once worked for (who, though originally a chemist, went into trade/journal editing), back when he was a Chapel Father [i.e. shop steward] at Reed Publishing, he was the only one he knew not a Trot or a Tankie.</description>
		<content:encoded><![CDATA[	<p>&#8220;A surprisingly large number of FT journalists used also to write for &#8220;Marxism Today&#8221;. I was never sure which direction was the entryism (or was it both?)&#8221;</p>

	<p>The FT did recruit journalists who belonged to the CP.</p>

	<p>The rationale is: back in the 1970s, there was a lot of industrial action in the UK, so having good reporting on labor &#038; trade union issues was at a premium. Journalists who were also CP members had a better in with the shop steward movement (&#8216;cos a lot of the shop stewards were CP, although more the Tankie types than your <span class="caps">MT </span>Eurocommies) and so produced better reporting. So most of the FT&#8217;s labor department were CP.</p>

	<p>According to the <span class="caps">CEO</span> of a firm I once worked for (who, though originally a chemist, went into trade/journal editing), back when he was a Chapel Father [i.e. shop steward] at Reed Publishing, he was the only one he knew not a Trot or a Tankie.</p>
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		<title>By: Western Dave</title>
		<link>http://crookedtimber.org/2007/01/19/showy-spending/comment-page-1/#comment-184689</link>
		<dc:creator>Western Dave</dc:creator>
		<pubDate>Tue, 23 Jan 2007 14:51:51 +0000</pubDate>
		<guid isPermaLink="false">http://crookedtimber.org/2007/01/19/showy-spending/#comment-184689</guid>
		<description>Dead on 99.   B/c I run around with rich people (although I am not one myself), I&#039;ve noticed that the fancier the kitchen the less likely it is to be used.  My 4 burner stove top comes from Sears and is pretty dirty because it is used constantly.  The GE oven and micro-halogen speed cooker are somewhat cleaner (the M-H btw, is the greatest thing ever for working parents).  We looked at a sub-zero fridge and laughed.  It holds les than a day&#039;s supply of food.  The Viking range is practically unusuable with conventional cookware b/c of all those btus.  Copper pots only and who has time to clean those?  Which leads to do Western Dave&#039;s first law of cooking:  The fancier the gear, the less likely the kitchen is ever used by the owners.</description>
		<content:encoded><![CDATA[	<p>Dead on 99.   B/c I run around with rich people (although I am not one myself), I&#8217;ve noticed that the fancier the kitchen the less likely it is to be used.  My 4 burner stove top comes from Sears and is pretty dirty because it is used constantly.  The GE oven and micro-halogen speed cooker are somewhat cleaner (the M-H btw, is the greatest thing ever for working parents).  We looked at a sub-zero fridge and laughed.  It holds les than a day&#8217;s supply of food.  The Viking range is practically unusuable with conventional cookware b/c of all those btus.  Copper pots only and who has time to clean those?  Which leads to do Western Dave&#8217;s first law of cooking:  The fancier the gear, the less likely the kitchen is ever used by the owners.</p>
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		<title>By: SamChevre</title>
		<link>http://crookedtimber.org/2007/01/19/showy-spending/comment-page-1/#comment-184589</link>
		<dc:creator>SamChevre</dc:creator>
		<pubDate>Mon, 22 Jan 2007 18:58:24 +0000</pubDate>
		<guid isPermaLink="false">http://crookedtimber.org/2007/01/19/showy-spending/#comment-184589</guid>
		<description>I don&#039;t know the FT well enough to say for sure, but another factor is that all luxury goods is &quot;rich&quot; but some luxury goods is not; you have both the aspirational factor, and the &quot;one luxury&quot; factor.

In other words, I read reviews of $100 a meal restaurants not because I plan to go somewhere costing that much (last meal I bought in a restaurant cost $15 for 2 of us), but because I&#039;m an avid cook and often will try some combination of food and side dish that I read in a fancy restaurant review.

I also own a couple of tools that are the best you can buy, because I use them a lot.  (A couple Estwing hammers, a really good chef&#039;s knife, a set of Japanese waterstones.)</description>
		<content:encoded><![CDATA[	<p>I don&#8217;t know the FT well enough to say for sure, but another factor is that all luxury goods is &#8220;rich&#8221; but some luxury goods is not; you have both the aspirational factor, and the &#8220;one luxury&#8221; factor.</p>

	<p>In other words, I read reviews of $100 a meal restaurants not because I plan to go somewhere costing that much (last meal I bought in a restaurant cost $15 for 2 of us), but because I&#8217;m an avid cook and often will try some combination of food and side dish that I read in a fancy restaurant review.</p>

	<p>I also own a couple of tools that are the best you can buy, because I use them a lot.  (A couple Estwing hammers, a really good chef&#8217;s knife, a set of Japanese waterstones.)</p>
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		<title>By: 99</title>
		<link>http://crookedtimber.org/2007/01/19/showy-spending/comment-page-1/#comment-184555</link>
		<dc:creator>99</dc:creator>
		<pubDate>Mon, 22 Jan 2007 16:23:24 +0000</pubDate>
		<guid isPermaLink="false">http://crookedtimber.org/2007/01/19/showy-spending/#comment-184555</guid>
		<description>Viking? I assume they can&#039;t find decent servicing because they bought such mediocre equipment.

Aspirational brand identity is the cornerstone of middle class existence (along with its corollary -- anxiety about brand identity). There are versions of it in academic circles, but y&#039;all would pshaw me if I tried to point some on them out.

The trend of median income earners buying appliances well outside of their purchasing power has increased sharply over the past 20 years.

Westinghouse introduced a line of $2,000 washer/dryer sets with the expectation that they would be targeting the $70-80K household demo. After a year, they ran the numbers and adjusted advertising down to target $40-50K households, since they were selling more there. The $80K households, presumably, were all about Miele and Bosch.

Consumer credit is a part. Another is the lack of clarity in communicating to people who haven&#039;t been educated in the rudiments of class definition and personal economics that you can&#039;t afford a $1,500 washer on a $45K income.

Popular television and media don&#039;t address living within a median income, home ec isn&#039;t really taught any more, so every grows up thinking they are, or can be like, the Huxtables. How often did the Cosby show take pains to note that they were likely in the top 1-5% of all households? Even Homer Simpson presumably draws an above median income.

And, here in NY, a disproportionate number of low (and high) level media employees are from the very families the cover. The notorious Jennifer 8. Lee gets most of her article leads (which are inevitably lifestyle oriented) by posting to her alumni board (Harvard). 

College is becoming the training ground for conspicuous consumption and detachment from economic reality of America (talk to me all you want about unfair wage structures for adjuncts, but encouraging a bunch of 18 year olds that is is economically rational to spend $40,000 for a year of college is teaching them it&#039;s okay to want a $1,500 washer the minute they graduate). Add to that the fact that the top tier colleges (which draw disproportionately from the upper classes) produce most of the media talent (a far cry from the working class, unionized newsrooms of mid century), it&#039;s entirely understandable that this is as complex as their thinking gets. They don&#039;t know anyone who has never replaced a broken appliance for years because it wasn&#039;t economically feasible.

You see these people all day. Are you surprised this is how they turn out?</description>
		<content:encoded><![CDATA[	<p>Viking? I assume they can&#8217;t find decent servicing because they bought such mediocre equipment.</p>

	<p>Aspirational brand identity is the cornerstone of middle class existence (along with its corollary&#8212;anxiety about brand identity). There are versions of it in academic circles, but y&#8217;all would pshaw me if I tried to point some on them out.</p>

	<p>The trend of median income earners buying appliances well outside of their purchasing power has increased sharply over the past 20 years.</p>

	<p>Westinghouse introduced a line of $2,000 washer/dryer sets with the expectation that they would be targeting the $70-80K household demo. After a year, they ran the numbers and adjusted advertising down to target $40-50K households, since they were selling more there. The $80K households, presumably, were all about Miele and Bosch.</p>

	<p>Consumer credit is a part. Another is the lack of clarity in communicating to people who haven&#8217;t been educated in the rudiments of class definition and personal economics that you can&#8217;t afford a $1,500 washer on a $45K income.</p>

	<p>Popular television and media don&#8217;t address living within a median income, home ec isn&#8217;t really taught any more, so every grows up thinking they are, or can be like, the Huxtables. How often did the Cosby show take pains to note that they were likely in the top 1-5% of all households? Even Homer Simpson presumably draws an above median income.</p>

	<p>And, here in NY, a disproportionate number of low (and high) level media employees are from the very families the cover. The notorious Jennifer 8. Lee gets most of her article leads (which are inevitably lifestyle oriented) by posting to her alumni board (Harvard).</p>

	<p>College is becoming the training ground for conspicuous consumption and detachment from economic reality of America (talk to me all you want about unfair wage structures for adjuncts, but encouraging a bunch of 18 year olds that is is economically rational to spend $40,000 for a year of college is teaching them it&#8217;s okay to want a $1,500 washer the minute they graduate). Add to that the fact that the top tier colleges (which draw disproportionately from the upper classes) produce most of the media talent (a far cry from the working class, unionized newsrooms of mid century), it&#8217;s entirely understandable that this is as complex as their thinking gets. They don&#8217;t know anyone who has never replaced a broken appliance for years because it wasn&#8217;t economically feasible.</p>

	<p>You see these people all day. Are you surprised this is how they turn out?</p>
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		<title>By: john burke</title>
		<link>http://crookedtimber.org/2007/01/19/showy-spending/comment-page-1/#comment-184545</link>
		<dc:creator>john burke</dc:creator>
		<pubDate>Mon, 22 Jan 2007 14:10:04 +0000</pubDate>
		<guid isPermaLink="false">http://crookedtimber.org/2007/01/19/showy-spending/#comment-184545</guid>
		<description>HTSI is driven by advertising revenue and nothing else matters.  The FT actually stopped running it a few years back mistakenly thinking it would help it cut costs if it did away with something obviously so expensive to produce but they saw the (advertising) light after about twelve months.

HTSI&#039;s content is not completely given over to the uber-wealthy.  Jonathan Margolis&#039; Technopolis page is certainly full of pricey goodies but they are there only because they are at the cutting edge tech-wise.  Plus he always has one (cheap) novelty item per month, sorry, edition.  Where else would you have read about the &quot;Guinness Surger&quot;? I remember reading that it was available on promotion at Tesco (not something you see in HTSI too often) but only in certain branches, presumably the very select ones...

http://gizmodo.com/gadgets/gadgets/guinness-surger-160488.php</description>
		<content:encoded><![CDATA[	<p><span class="caps">HTSI</span> is driven by advertising revenue and nothing else matters.  The FT actually stopped running it a few years back mistakenly thinking it would help it cut costs if it did away with something obviously so expensive to produce but they saw the (advertising) light after about twelve months.</p>

	<p><span class="caps">HTSI</span>&#8217;s content is not completely given over to the uber-wealthy.  Jonathan Margolis&#8217; Technopolis page is certainly full of pricey goodies but they are there only because they are at the cutting edge tech-wise.  Plus he always has one (cheap) novelty item per month, sorry, edition.  Where else would you have read about the &#8220;Guinness Surger&#8221;? I remember reading that it was available on promotion at Tesco (not something you see in <span class="caps">HTSI</span> too often) but only in certain branches, presumably the very select ones&#8230;</p>

	<p><a href="http://gizmodo.com/gadgets/gadgets/guinness-surger-160488.php" rel="nofollow">http://gizmodo.com/gadgets/gadgets/guinness-surger-160488.php</a></p>
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		<title>By: Alex</title>
		<link>http://crookedtimber.org/2007/01/19/showy-spending/comment-page-1/#comment-184523</link>
		<dc:creator>Alex</dc:creator>
		<pubDate>Sun, 21 Jan 2007 21:07:22 +0000</pubDate>
		<guid isPermaLink="false">http://crookedtimber.org/2007/01/19/showy-spending/#comment-184523</guid>
		<description>35: &lt;em&gt;“How to Spend It” has been appearing with increasing frequency in recent months,&lt;/em&gt;

Yes, the magazine in the Saturday edition has reached a frequency of almost once a week!</description>
		<content:encoded><![CDATA[	<p>35: <em>&#8220;How to Spend It&#8221; has been appearing with increasing frequency in recent months,</em></p>

	<p>Yes, the magazine in the Saturday edition has reached a frequency of almost once a week!</p>
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		<title>By: brooksfoe</title>
		<link>http://crookedtimber.org/2007/01/19/showy-spending/comment-page-1/#comment-184517</link>
		<dc:creator>brooksfoe</dc:creator>
		<pubDate>Sun, 21 Jan 2007 14:53:07 +0000</pubDate>
		<guid isPermaLink="false">http://crookedtimber.org/2007/01/19/showy-spending/#comment-184517</guid>
		<description>With regard to Rob&#039;s original point about ad-driven coverage: it doesn&#039;t matter so much whether ridiculously wealthy people ACTUALLY read these articles. What matters is that when the NYT&#039;s ad-sales people go to advertisers, they can show them an entire section of the paper that APPEARS to appeal to uberwealthy people -- and, indeed, to talk directly about Product, rather than trying to hook in through the usually related but once-removed subject of Money.</description>
		<content:encoded><![CDATA[	<p>With regard to Rob&#8217;s original point about ad-driven coverage: it doesn&#8217;t matter so much whether ridiculously wealthy people <span class="caps">ACTUALLY</span> read these articles. What matters is that when the <span class="caps">NYT</span>&#8217;s ad-sales people go to advertisers, they can show them an entire section of the paper that <span class="caps">APPEARS</span> to appeal to uberwealthy people&#8212;and, indeed, to talk directly about Product, rather than trying to hook in through the usually related but once-removed subject of Money.</p>
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		<title>By: abb1</title>
		<link>http://crookedtimber.org/2007/01/19/showy-spending/comment-page-1/#comment-184513</link>
		<dc:creator>abb1</dc:creator>
		<pubDate>Sun, 21 Jan 2007 10:07:49 +0000</pubDate>
		<guid isPermaLink="false">http://crookedtimber.org/2007/01/19/showy-spending/#comment-184513</guid>
		<description>To a newspaper, advertisers are its customers and the readers are the product, like fish to a fisherman. You guys are like fish discussing quality of the bait.</description>
		<content:encoded><![CDATA[	<p>To a newspaper, advertisers are its customers and the readers are the product, like fish to a fisherman. You guys are like fish discussing quality of the bait.</p>
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		<title>By: Tumbril</title>
		<link>http://crookedtimber.org/2007/01/19/showy-spending/comment-page-1/#comment-184508</link>
		<dc:creator>Tumbril</dc:creator>
		<pubDate>Sun, 21 Jan 2007 06:36:09 +0000</pubDate>
		<guid isPermaLink="false">http://crookedtimber.org/2007/01/19/showy-spending/#comment-184508</guid>
		<description>As an occasional contributor to the FT&#039;s HTSI, I am obviously tarred. It is not a fantasy product but the most credible place for conspicuous consumers to compare and contrast everything from Amanresorts to Goyard over LVMH. Luxury producers are desparate to be in it because it is read by more high earners than any other, which is why the ad revenues are booming. The Economist is about to launch something along these lines too - it is hardly rocket science that if you have huge numbers of wealthy consumers reading your product, it makes it more desirable from a rev enue point of view. If it repells you, then chuck it out or turn it into biomass or whatever floats your boat - just don&#039;t eternally agonise about the shallowness of society, And John Lloyd NEVER edited HTSPI, he was once in charge of the estimable FT Mag which is like a cross between Harpers and the NYT Mag.</description>
		<content:encoded><![CDATA[	<p>As an occasional contributor to the FT&#8217;s <span class="caps">HTSI</span>, I am obviously tarred. It is not a fantasy product but the most credible place for conspicuous consumers to compare and contrast everything from Amanresorts to Goyard over <span class="caps">LVMH</span>. Luxury producers are desparate to be in it because it is read by more high earners than any other, which is why the ad revenues are booming. The Economist is about to launch something along these lines too &#8211; it is hardly rocket science that if you have huge numbers of wealthy consumers reading your product, it makes it more desirable from a rev enue point of view. If it repells you, then chuck it out or turn it into biomass or whatever floats your boat &#8211; just don&#8217;t eternally agonise about the shallowness of society, And John Lloyd <span class="caps">NEVER</span> edited <span class="caps">HTSPI</span>, he was once in charge of the estimable <span class="caps">FT </span>Mag which is like a cross between Harpers and the <span class="caps">NYT </span>Mag.</p>
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		<title>By: anonymous</title>
		<link>http://crookedtimber.org/2007/01/19/showy-spending/comment-page-1/#comment-184507</link>
		<dc:creator>anonymous</dc:creator>
		<pubDate>Sun, 21 Jan 2007 03:45:33 +0000</pubDate>
		<guid isPermaLink="false">http://crookedtimber.org/2007/01/19/showy-spending/#comment-184507</guid>
		<description>Joel T:

Surely, when you visit others in your circle
you notice a distinct lack of books on their 
shelves.  

But what seems to bother people the most are multiple titles on a single subject.

One time a party guest, who had been spending
time in my library, asked me why I needed to
have 6 books with the title &quot;The Battle of 
Britain&quot;? 

I countered with &quot;What? Didn&#039;t you notice the
63 books I have on the &#039;Battle of the Atlantic&#039;?&quot;

5,000 seems like a lot of titles.  We have
557 in our dining room alone.  When she asked,
I counted them with my neice over the holidays.

Don&#039;t even get me started on my wife&#039;s cook book
collection.   How many editions of the &quot;Joy of
Cooking&quot; can one person possible need?

&quot;He who dies with the most books wins&quot;.
- anon</description>
		<content:encoded><![CDATA[	<p>Joel T:</p>

	<p>Surely, when you visit others in your circle<br />
you notice a distinct lack of books on their<br />
shelves.</p>

	<p>But what seems to bother people the most are multiple titles on a single subject.</p>

	<p>One time a party guest, who had been spending<br />
time in my library, asked me why I needed to<br />
have 6 books with the title &#8220;The Battle of<br />
Britain&#8221;?</p>

	<p>I countered with &#8220;What? Didn&#8217;t you notice the<br />
63 books I have on the &#8216;Battle of the Atlantic&#8217;?&#8221;</p>

	<p>5,000 seems like a lot of titles.  We have<br />
557 in our dining room alone.  When she asked,<br />
I counted them with my neice over the holidays.</p>

	<p>Don&#8217;t even get me started on my wife&#8217;s cook book<br />
collection.   How many editions of the &#8220;Joy of<br />
Cooking&#8221; can one person possible need?</p>

	<p>&#8220;He who dies with the most books wins&#8221;. &#8211; anon</p>
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		<title>By: Doug</title>
		<link>http://crookedtimber.org/2007/01/19/showy-spending/comment-page-1/#comment-184499</link>
		<dc:creator>Doug</dc:creator>
		<pubDate>Sat, 20 Jan 2007 22:54:36 +0000</pubDate>
		<guid isPermaLink="false">http://crookedtimber.org/2007/01/19/showy-spending/#comment-184499</guid>
		<description>There&#039;s been a reasonable amount of snark, irony and other deflecting elements in How To Spend It most times that I&#039;ve picked it up. Considering that the FT is largely about How To Get It, the counterpoint doesn&#039;t strike me as out of character.</description>
		<content:encoded><![CDATA[	<p>There&#8217;s been a reasonable amount of snark, irony and other deflecting elements in How To Spend It most times that I&#8217;ve picked it up. Considering that the FT is largely about How To Get It, the counterpoint doesn&#8217;t strike me as out of character.</p>
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		<title>By: William</title>
		<link>http://crookedtimber.org/2007/01/19/showy-spending/comment-page-1/#comment-184495</link>
		<dc:creator>William</dc:creator>
		<pubDate>Sat, 20 Jan 2007 21:15:41 +0000</pubDate>
		<guid isPermaLink="false">http://crookedtimber.org/2007/01/19/showy-spending/#comment-184495</guid>
		<description>&quot;How to Spend It&quot; has been appearing with increasing frequency in recent months, and since it has been a record bonus season on Wall Street and the City, it is no doubt reaching a very receptive audience among core FT readers.</description>
		<content:encoded><![CDATA[	<p>&#8220;How to Spend It&#8221; has been appearing with increasing frequency in recent months, and since it has been a record bonus season on Wall Street and the City, it is no doubt reaching a very receptive audience among core FT readers.</p>
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		<title>By: Alex</title>
		<link>http://crookedtimber.org/2007/01/19/showy-spending/comment-page-1/#comment-184488</link>
		<dc:creator>Alex</dc:creator>
		<pubDate>Sat, 20 Jan 2007 19:39:33 +0000</pubDate>
		<guid isPermaLink="false">http://crookedtimber.org/2007/01/19/showy-spending/#comment-184488</guid>
		<description>Personally, I consider this kind of supplement a form of tax - I&#039;m paying by putting up with it for the newspaper that comes with it. Technological progress in DTP and offset printing made it possible to run a lot of high gloss colour pagination, just as display ad rates in the paper began sinking. Simple answer - build something just for high-end advertisers.</description>
		<content:encoded><![CDATA[	<p>Personally, I consider this kind of supplement a form of tax &#8211; I&#8217;m paying by putting up with it for the newspaper that comes with it. Technological progress in <span class="caps">DTP</span> and offset printing made it possible to run a lot of high gloss colour pagination, just as display ad rates in the paper began sinking. Simple answer &#8211; build something just for high-end advertisers.</p>
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		<title>By: nick s</title>
		<link>http://crookedtimber.org/2007/01/19/showy-spending/comment-page-1/#comment-184485</link>
		<dc:creator>nick s</dc:creator>
		<pubDate>Sat, 20 Jan 2007 18:12:05 +0000</pubDate>
		<guid isPermaLink="false">http://crookedtimber.org/2007/01/19/showy-spending/#comment-184485</guid>
		<description>Well, perhaps this isn&#039;t the &lt;i&gt;intention&lt;/i&gt;, but it&#039;s a very good record of who&#039;ll be first up against the wall when the revolution comes. [/davespart]</description>
		<content:encoded><![CDATA[	<p>Well, perhaps this isn&#8217;t the <i>intention</i>, but it&#8217;s a very good record of who&#8217;ll be first up against the wall when the revolution comes. [/davespart]</p>
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		<title>By: dearieme</title>
		<link>http://crookedtimber.org/2007/01/19/showy-spending/comment-page-1/#comment-184481</link>
		<dc:creator>dearieme</dc:creator>
		<pubDate>Sat, 20 Jan 2007 16:34:52 +0000</pubDate>
		<guid isPermaLink="false">http://crookedtimber.org/2007/01/19/showy-spending/#comment-184481</guid>
		<description>Have it your own way, Kieran.  Groucho Veblen it is.</description>
		<content:encoded><![CDATA[	<p>Have it your own way, Kieran.  Groucho Veblen it is.</p>
 ]]></content:encoded>
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