BUSINESS – Page 6 – REVIEWS AND VIEWS OF LIFE

PARODY OF LIFE

Audio-book Review
By Chet Yarbrough

(Blog:awalkingdelight)
Website: chetyarbrough.blog

Babbitt

Babbitt

Written by: Sinclair Lewis

Narration by: Grover Gardner

SINCLAIR LEWIS (1885-1951 AMERICAN NOVELIST-FIRST TO RECEIVE THE NOBEL PRIZE IN LITERATURE)

Sinclair Lewis’s “Babbitt” is categorized as a satire, a parody of life in the early roaring twenties, but its story seems no exaggeration of a life in the 20^th or 21^st century. Published in 1922, it is considered a classic. It is said to have influenced Lewis’s award of the Nobel Prize for literature in 1930. (Lewis is the first American to receive the Nobel Prize in Literature.) Lewis is highly praised for describing American culture. “Babbitt” is the eighth of thirteen novels Lewis published by 1930. Lewis creates a body of work that intimately exposes strengths and weaknesses of American democracy and capitalism.

Reader/listeners are introduced to George F. Babbitt, a man in his forties. Babbitt is a realtor. He is successful financially; bored, and relatively happy in his married-with-children’ life. His best friend, Paul, is equally bored, less financially successful, but deeply unhappy in his marriage. Paul is harried by a wife that men categorize as shrewish. Babbitt’s best friend chooses to cheat on his wife. When Babbitt finds Paul in a clandestine meeting at a Chicago restaurant, he waits for him at a hotel to try to understand what is happening.

VIOLENCE AGAINST WOMEN — DOMESTIC ABUSE VICTIM (Lewis writes a satiric vignette where women are rarely viewed as equal to men, and expected to forgive men for violent treatment.)

In a male-bonding moment Babbitt forgives Paul and agrees that his friend’s wife is a shrew. Babbitt offers to mislead the betrayed wife by lying about her husband’s out-of-town business trip. Later, the spurned wife argues with Paul. Paul responds by shooting her in the shoulder. Babbitt sticks by his friend; even when he is convicted and sentenced to prison for three years.

After a year of his friend’s incarceration, Babbitt tries to get the spurned wife to forgive her husband and petition the parole board to release Paul early. She neither forgives nor forgets. She chastises Babbitt for his deluded belief that her husband deserves any leniency. This seems a satirical vignette where women are rarely viewed as equal to men, and expected to forgive men for violent treatment.

In his mid-forties Babbitt is becoming more restless. He rationalizes infidelity and discounts the value of his wife and family. He chooses to cheat on his wife because he feels his wife does not understand him. Babbitt deludes himself with the idea that another sexual relationship in his life is his right, and that it will not hurt anyone. One may presume this is another satirical vignette. On the other hand, how many men and women rationalize their way to extra marital affairs today?

Lewis, through his characters, infers there is a struggle for fair, if not equal treatment, in women. In “Babbitt”, Lewis never gives women a role as superiors or equals that have intellectual interests in government, society, or culture. Rather, Babbitt suggests women often feign interest in a man’s thoughts for the desire of companionship, attention, and affection.

GENDER INEQUALITY Babbitt implies women rarely seek intellectual stimulation or sexual gratification. Men are shown to classify women as shrewish because they are pushing husbands to be more expressive and attentive. There are many ways of interpreting Lewis’s intent but this is not an exaggerated satire, it is a truth of many men’s view of women.

WOMEN AND THE LADDER TO SUCCESS — An underlying theme in “Babbitt” is the inequality of American capitalism. Women and most minorities are less equal because they are either not in the work force, or in the work force at a lower wage.

An underlying theme in “Babbitt” is the inequality of American capitalism. Women and most minorities are less equal because they are either not in the work force, or in the work force at a lower wage. The union movement is struggling for recognition in the 1920s because of low wages being paid by business owners. Lewis suggests Babbitt begins to modify his opinion about the labor movement as he becomes entangled in the lives of less successful Americans like Paul and his spurned lover.

Wealthy capitalist see the answer to the union movement is electing a business President that cracks down on unions. Capitalists who have money and power classify the union movement as anarchic, communist, or socialist. (This sounds familiar today.) Babbitt suspects there is something wrong when he sees some union supporters are from the educated class. What makes Lewis’s observations fascinating is that they are written when America is in the midst of the roaring twenties; before the 1929 Wall Street’ crash. In the early 1920s, capitalism seems to be a tide raising all boats when in fact it is a torpedo being readied for launch.

Trump Cartoon About Unions — Wealthy capitalist see the answer to the union movement is electing a business President that cracks down on unions.

Babbitt experiences peer pressure that causes him to recant any perceived support of union sympathizers and eventually returns to the fold of do-nothing conservatism. He recants his libertine ways and returns to hearth and home. But Lewis offers a twist by having Babbitt’s son shock the family by rebelling against standards of upper middle class life. He decides to marry without the blessings of his family or his church. George F. Babbitt is the only family member who whole heartedly supports his son’s unconventional act.

Babbitt writes in the midst of a burgeoning American industrial revolution. It seems what happened in the 1920s is similar to what is happening today. The industrial revolution is now the technology revolution; women are still undervalued, many Americans want a business President elected, and unions are being busted. Today’s young men and women are still breaking social conventions. The stage seems set. One hopes 2018 is not America’s roaring twenties; pending another economic crash.

TSAR PUTIN?

Audio-book Review
By Chet Yarbrough

(Blog:awalkingdelight)
Website: chetyarbrough.blog

The New Tsar: The Rise and Reign of Vladimir Putin

Written by: Steven Lee Myers

Narration by: Rene Ruiz

STEVEN LEE MYERS (DIPLOMATIC CORRESPONDENT, WASHINGTON BUREAU, THE NEW YORK TIMES)

Steven Lee Myers, NYT’s reporter and author.

Steven Lee Myers has written a highly polished and informative biography but fails to convince one that Putin is a Tsar. Putin is more Richard Nixon than Catherine the Great. Putin, like Nixon, is smart and thin-skinned. Putin, like Nixon, makes personnel decisions based on loyalty, and views the world in real-politic terms.

Myers shows Putin comes from a family of Russian patriots with a grandfather and father that fought in Russian armies in different generations. Each lived during the Stalinist years of Gulags and terror but none rebelled against the power of Russia’s leadership.

Myers explains how Putin becomes interested in the KGB at the age of 16 and grooms himself for a life in the secret service. Putin’s KGB-influenced’ career-path is to become an attorney. He learns German and is assigned to East Germany in his first years as a KGB agent.

Myers explains how Putin’s steely disposition grows in East Germany, and later St Petersburg, Russia. Putin keeps a low profile but exhibits bravery, independence, and initiative when his country’s leaders are overwhelmed by the fall of the Berlin Wall and the Iron Curtain.

ANATOLY SOBCHAK AND VLADIMIR PUTIN (ST. PETERSBURG, RUSSIA)

Putin becomes the “go-to” guy for the Mayor of Leningrad (aka St. Petersburg). Putin’s relationship to the Mayor of Leningrad, Anatoly A. Sobchak, is founded on loyalty.

Sobchak is initially recognized as a representative of new Russia but the power of his position is diminished by the ineptitude of his administration. In spite of Sobchak’s mistakes, Myers shows that Putin stands by him. Loyalty is a characteristic of Putin that is expected of all who work with him. Eventually Sobchak is electorally defeated and Putin is left out of a job.

Putin’s relationship with the mayor of Leningrad reminds one of his support for Lukashenco, the President of Belarus, who illegally diverted a commercial airline to capture a government political dissident (Roman Protasevich).

Roman Protasevich (Belarusian journalist and political dissident.)

Alexander Lukashenko (President of Belarus)

In a televised June 4th, 2021 confession by Protasevich, Lukashenco embarrasses himself and his country with coerced praise by the Belarus President. This reminds one of Stalin’s show trials.

Russia is unlikely to return to hegemonic control of adjacent countries. Ethnic nationalism and desire for greater freedom are unquenchable thirsts. Ukraine, Georgia, and even Belarus, seem unlikely to rejoin Russia in a new Socialist Republic.

Russia is equally unlikely to be ruled by a Tsar again because its population is better educated; aware of the value of qualified freedom, insured by relative social stability, and security.

Russia will remain a major international power and influence in the world. Nuclear capability and cybernetics (particularly as a weapon of political and economic disruption) guarantees Russia’s position in world affairs.

Forcing Ukraine or Georgia to return to the Russian block is beyond the military strength of Russia’s Putin or his successors. Putin successfully destroyed Chechen resistance in Russia but only by severe repression within the Russian state’s border, mobilization of the press against Chenchen terrorism, and co-optation of a Chechen leader who is now a Putin’ mercenary in Ukraine. Reassembly of a form of the U. S. S. R. is only conceivable based on political accommodation based on economic influence or volitional federation. Neighboring countries can only be seduced, i.e., either by economics, or cybernetic influence. A majority vote of neighboring countries; not military dominion, will be the “modus vivendi” for Russian expansion.

But what about the Crimea. It is a part of the Ukraine.

An argument can be made that territory of the Crimea is not an exception. Millions of dollars were spent by Russia to modernize Crimea for the Olympics. Undoubtedly, a great deal of time was spent influencing Crimea’s population (which is ethnically 65% Russian). It is conceivable that a majority of the Crimea residents voted to become part of Russia.

Of course, this sets aside the truth of Crimea’s territorial and nationalist connection with Ukraine. One might argue this is analogous to Hitler’s invasion of Czechoslovakia. Hitler used the excuse that ethnic Germans were being abused in the Sudetenland. In this view, Putin is no Tsar; i.e. he is more Stalinist accolade.

(To make Crimea the equivalent of the Sudetenland one might ask oneself if the majority in the Sudetenland were ethnic Germans, and was there a vote by Sudetenland residents.)

Undoubtedly, a great deal of time was spent influencing Crimea’s population. 65% of the Crimea’s population is ethnically Russian. It is not inconceivable that a majority of Crimea residents voted to become part of Russia

Myers cogently reveals the strengths and weaknesses of modern Russian rule. In a limited sense (limited by Myers’ independent research and fact checking), Myers’ corroborates the experience noted in William Browder’s book, “Red Notice”. Putin is certainly capable of undermining the influence or action of any person who chooses to challenge his authoritarianism.

WILLIAM FELIX BROWDER (AKA BILL BROWDER-CEP AND CO-FOUNDER OF HERMITAGE CAPTIAL MANAGEMENT, NOTED CRITIC OF PUTIN)

American-born British financier and political activist.

In spite of Putin’s great power, Myers shows there are chinks in his invincibility. Putin’s sly manipulation for re-election after Medvedev’s only term as President fails to quell the desire for freedom of Russian citizens. Just as Watergate exposed the hubris of Nixon, Putin will suffer from the sin of being a flawed human being. Putin, like Nixon, is a great patriot of his country but neither exhibit the inner moral compass that make good leaders great leaders. This is a reminder of the 45th American President who focused on the business of America; not its role as a beacon for freedom and equality of opportunity.

An odd article in the NYTs (4/6/22) notes America is perplexed by what Putin owns in order to punish him with confiscation or restriction of assets. Putin is a true believer in communism. His position and property are owned by the State. In one sense that makes Putin vulnerable because his money, power, and prestige is dependent on his government’ position. In another, his position insulates him from international economic sanction.

U.S. President Donald Trump and Russian President Vladimir Putin shake hands as they hold a joint news conference after their meeting in Helsinki, Finland, July 16, 2018. REUTERS/Leonhard Foeger

Myers creates a convincing portrait of a man who is subject to the sins of most who rise to power. Putin believes he has become a god among men. He rationalizes his greed by thinking the fate of Russia’s re-ascendance lies in his hands. Even in the days of Stalinist governance, relationship to the leader was the sine ne quo of wealth and power. Putin carries on that tradition. Putin’s friends and associates from the KGB and his tenure in St. Petersburg are critical components of Putin’s control of the economy and government.

Putin is no Tsar but he could have been if education had not advanced society and freedom of expression had not entered the internet age.

TODAY’S LUDDITES

Audio-book Review
By Chet Yarbrough

(Blog:awalkingdelight)
Website: chetyarbrough.blog

The Glass Cage-Automation and Us

By: Nicholas Carr

Narrated by: Jeff Cummings

NICHOLAS G. CARR (AMERICAN WRITER-FORMER EDITOR OF HARVARD BUISNESS REVIEW)

NICHOLAS G. CARR (AMERICAN WRITER-FORMER EDITOR OF HARVARD BUSINESS REVIEW)

The Glass Cage, written by Harvard alumnus Nicholas Carr, ironically places him in the shoes of an uneducated English textile artisan of the 19^th century, known as a Luddite.

Luddites protested against the industrial revolution because machines were replacing jobs formerly done by laborers. Just as the Luddites fomented arguments against mechanization, Carr argues automation creates unemployment and diminishes craftsmanship.

WORKMEN TAKE OUT THEIR ANGER ON MACHINES DURING THE INDUSTRIAL REVOLUTION. (Just as the Luddites fomented arguments against mechanization, Carr argues automation creates unemployment and diminishes craftsmanship.)

Workmen take out their anger on the machines

Carr carries the Luddite argument a step further by inferring a mind’s full potential may only be achieved through a conjunction of mental and physical labor. Carr posits the loss of physical ability to make and do things diminishes civilization by making humans too dependent on automation.

There is no question that employment was lost in the industrial revolution; just as it is in the automation age, but jobs have been and will continue to be created as the world adjusts to this new stage of productivity.

Unquestionably, the advent of automation is traumatic but elimination of repetitive industrial labor by automation is as much a benefit to civilization as the industrial revolution was to low wage workers spinning textile.

The Covid19 pandemic of 2020 will accelerate world’ transition to automation. Though this book is written earlier than the pandemic’s economic consequence, corporations are reevaluating the necessity for office buildings to conduct their business. More and more employees will work from home.

Employment adjustment is traumatic. The trauma of this age is that work with one’s hands is being replaced by work with one’s brain. The education of the world needs to catch up with socio-economic change; just as labor did in the 20^th century. To suggest humans do not learn when they cannot fly a plane, build a house, or construct an automobile with their own hands is a specious argument.

Houses and cars have not been built by one person since humans lived in caves and iron horses replaced carriage horses. Houses and cars were built by teams of people who worked with their hands but only on specific tasks. Those teams of people were managed by knowledge workers.

Service and education for society are the keys to the transition from industrialization to automation.

Automation of tasks reduces the mind numbing, low pay work of laborers. Automation turns manual labor into the development and education of people who design hardware and software to execute tasks that result in more safely flown planes, new houses, new cars, new refrigerators, so on and so on.

Carr suggests that airplane pilots should be given more control over automated planes they fly despite the facts he quotes that clearly show plane crashes kill fewer people today than ever in history. They are bigger, faster, and more complicated to fly. The argument that pilots need to learn how to fly a jumbo jet when automation fails is like telling a farmer to pull out his scythe to harvest the wheat because the thresher quit working.

Carr’s argument is that pilots have forgotten how to fly because automation replaced their skill set. To state the obvious, planes are not what they were 100 or even 10 years ago.

One might argue that Boeing’s 737 Max mistakes are evidence that Carr is correct in suggesting planes have become too complicated, but it ignores the reality of mistakes have always being made by humans. Humans are preternaturally motivated by self-interest.

Boeing’s leaders made mistakes in not fully analyzing and disclosing risks of 737 changes, and in not adequately training airline pilots on the safety features of the plane.

Carr raises a morality argument for not saving life when an automated machine makes a decision rather than a human being. One can suggest an example of how an automated machine is more likely to make the right decision than a human.

For example, presume a driver-less car is programmed to save its occupant when an injured bicyclist is laying in the street around a blind curve. A fast moving automated car with a family inside, with mountain cliffs on both sides of the road, will drive over the bicyclist without conscience. The bicyclist is dead but the car passengers are alive. If the car is driven by a person, both the cyclist and the family are likely dead.

THINKING SLOW — Carr’s argument is that humans need to make their own intuitive decisions. As pointed out by Daniel Kahneman in “Thinking Fast and Slow”, the primary “think fast” mode in humans is intuition, which is often wrong.

Without doubt, many automation errors (e.g., the 737 Max) have been and will be made in the future, but to suggest automation is not good for society is as false as the Luddites arguments about industrialization.

This period of the world’s adjustment is horrendously disruptive. It is personal to every parent or person that cannot feed, clothe, and house their family or themselves because they have no job.

Decrying the advance of automation is not the answer. Making the right political decisions about how to help people make job transitions is what will advance civilization.

OTHER gods

Audio-book Review
By Chet Yarbrough

(Blog:awalkingdelight)
Website: chetyarbrough.blog

The Attention Merchants

By Tim Wu

Narrated by Marc Cashman

TIM WU (AUTHOR, PROFESSOR OF LAW AT COLUMBIA )

Not since “The Powers That Be” (published in 1979) has there been a better history of the media industry. Tim Wu is heir to David Halberstam. First there were newspapers, then radio, then television, and now the world-wide web. Wu offers a modern vision of media’s impact on society in “The Attention Merchants”.

Gone are many of the famed “…Attention Merchants” like Bill Bernbach, Neil French, and David Ogilvy. They were the early influencers; i.e. the copy writers, and agents that created consumer advertising for Sulzberger, Chandler, Hutchins, Paley, and Luce. They worked for founders of some of the most influential newspaper, radio, television and magazine outlets of the 19^th and 20^th centuries. They were the “gods” of a newly formed consumer society. Consumers read, watched, and listened to pitches for everything from votes to vitamins to the latest model Cadillac. Wu shows pitches remain the same, but methods have changed.

DAVID HALBERSTAM'S SEMINAL WORK ON THE MEDIA INDUSTRY (PUBLISHED 1979) — DAVID HALBERSTAM’S SEMINAL WORK ON THE MEDIA INDUSTRY (PUBLISHED 1979) Gone are many of the famed “…Attention Merchants” like Bill Bernbach, Neil French, and David Ogilvy. They were the “gods” of a newly formed consumer society. Consumers read, watched, and listened to pitches for everything from votes to vitamins to the latest model Cadillac.

Today’s social, political, and economic consumers are recorded, manipulated, spindled, and controlled by “other gods”. Modern “…Attention Merchants” are internet entrepreneurs like Amazon’s Jeff Bezos, Google’s Larry Page & Sergey Brin, Microsoft’s Bill Gates & today’s CEO Satya Nadella, Apple’s (now deceased) CEO, Steve Jobs & today’s CEO Tim Cook, Facebook’s Mark Zuckerberg, and Netflix’s Reed Hastings. Television, newspapers, radio, and magazines still capture our attention but not like past “…Attention Merchants”. Old media are still with us, but computer screens and mobile phones have joined the mix. Wu shows how the public’s decisions have become less volitional, more manipulated, and addictive as www. sites came into being and technology matured.

Old media is still with us, but computer screens and mobile phones have joined the mix. Wu shows how the public’s decisions have become less volitional, more manipulated, and addictive when www. came into being and technology matured.

MARLBORO MAN — Neither smoking or “free” access to information is without harm or cost. The Marlborough man is dead, and “free” internet information is not free.

Wu recounts how advertising became a critical part of early media’s power, influence, and profit. Just as advertisers promoted false benefits of smoking in the 20^th, internet advertisers promote false benefits of free access to information and entertainment in the 21st century. Neither smoking or “free” access to information is without harm or cost. The Marlborough man is dead, and “free” internet information is not free. “Fake news” has always been in the “…Attention Merchant’s” tool box but Wu shows that a new dimension is created with the rise of “free” information technology.

The internet not only informs the public, i.e., it distracts society, distorts facts, and reveals intimate details of personal lives. Internet users become products, rather than just consumers. Information gathered on consumers is provided to government and sold to private enterprise.

More ominous than media distortion by capitalist manipulators is government-controlled media that distorts truth to justify the Ukraine war.
ukraine bombing

Personal information is used by governments, and private sector businesses to achieve their own purposes. Power and control become centered on organizations rather than individuals. Data mining is a new industry. Decisions are less determined by personal being and private belief. Today, decisions are shaped by a society “under the influence” of government, and private sector’s “…Attention Merchants”.

data mining — Personal information is used by governments, and private sector businesses to achieve their own purposes. Power and control become centered on organizations rather than individuals. Data mining is a new industry.

facebook — In this Facebook age, there are few secrets about what one likes and what one is willing to pay for product.

Wu notes how today’s “…Attention Merchants” are different. Advertisers have always tried to influence individuals. Advertisers have always told lies or distorted truth to get buyers to buy and believe. Wu explains the difference. Now personal information is acquired with confused consent by users of the internet. In this Facebook age, there are few secrets about what one likes and what one is willing to pay for product.

Customers are no longer just consumers. Wu notes customers have become products. Customers are sold to the highest bidder without customer awareness or compensation. Today’s “…Attention Merchants” argue that sales pitches are customized to what the customer wants. Businesses rationalize access as the customer’s compensation. Government rationalizes access as a way of staying in touch and understanding the public. Wu implies both arguments are willful misrepresentations.

consumer's mind — Consumers have less control over their decisions because “…Attention Merchants” use intimate personal information to seduce conscious and unconscious motivation.

There is a cost to voters and consumers because personal information is being sold without pay for product that enriches “…Attention Merchants”, private enterprise, and government. The product delivered is the personal information that reveals who we are, what we think, what we desire, and what we are willing to pay. Consumers have less control over their decisions because “…Attention Merchants” use intimate personal information to seduce conscious and unconscious motivation.

The sinister aspect of Wu’s explanation is that “…Attention Merchants” now have tools that exaggerate the impact of “fake news”. By knowing intimate beliefs of consumers, “…Attention Merchants” are able to create algorithms that funnel “fake news” that feeds what consumer’s may either accurately or inaccurately believe. Prejudices and discrimination are reinforced. The worst characteristics of political populism are reinforced. “The Attention Merchants” expand control of individual thought so that the course of democratic elections, government policies, or business successes can be unduly influenced by false or misleading information.

wikipedia — The positive aspect of the internet is shown by sites created without advertising input; e.g. Wikipedia and some blogosphere creations abjure advertising as a source of compensation.

Wu notes there are glimmers of hope with a growing recognition of the impact of the internet. The internet broadens human understanding of the world. The positive aspect of the internet is shown by sites created without advertising input; e.g. Wikipedia and some blogosphere creations abjure advertising as a source of compensation.

Exposure of blind spots in acquisition of personal data are currently being exposed in congressional hearings with Facebook CEO, Mark Zuckerberg. At the same time, Russian interference in American elections is being more seriously investigated.

As Marie Currie is to have said— “Nothing in life is to be feared. It is only to be understood. Now is the time to understand more, so that we may fear less.” Of course, one might remember, she died from the radiation she received from her discoveries. (Ironically, Marie Currie’s death was found not to be from radiation exposure. In autopsy, her body radiation levels were within normal range.)

COST OF CHANGE

Audio-book Review
By Chet Yarbrough

(Blog:awalkingdelight)
Website: chetyarbrough.blog

Factory Girls

By Leslie T. Chang

Narrated by Susan Ericksen

Leslie Chang is perfectly suited for this journey into the heart of China’s economic transformation.

Ms. Chang works for the “Wall Street Journal”. She has family generational experience of imperial and communist China from the 1920s to the present; she speaks Mandarin Chinese, and grew up in the United States. Chang brings intimate perspective to the dynamics of economic and social change in 21^st century China.

“Factory Girls” gives the world a glimpse of the tremendous cultural change occurring in today’s China.

Sixteen year old girls are leaving rural China to seek their future in the City. With little formal education, they are fuel for the engines of China’s rapid industrial growth. Chang follows several of these amazing young women back and forth from their rural beginnings to their immersion in the difficult life of factory work.

At home on one acre farms there is nothing for young women to do but eat, sleep, and be treated as a burden and betrothal obligation.

Anomie, culture, tremendous ambition, boredom, and opportunity lure these young women into an unknown world of commerce. Chang notes there is little Chinese law to protect children from the abuses of industrialization.

The city beckons because it offers more than the limited opportunity of baring male children. China’s cultural history emphasizes male value and female inferiority to fuel the ambition of young women anxious to prove themselves.

The drive for money, power, and prestige are as clearly evident in women as in men. Those drives have been unleashed by China’s industrial transformation.

The consequence to factory girls is good and bad; i.e. a consequence of living any life. But, for the factory girls, Chang seems to infer the cost of change is less than the cost of staying on the farm.

BEIJING CHINA HIGH RISES (TYPICAL IN MAJOR CHINESE CITIES 2018)
INDUSTRIAL POLLUTION ON A BAD DAY IN BEJING,, CHINA

China is not America. Though about the size of America, China has a population of 1.31 billion; America 325 million.

Chang’s book is frightening to American parents who have the luxury of endorsing extended childhood through college for those who have a high school education.

Imagine a sixteen year old daughter taking a train to a city where she knows no one; has no financial support, and is expected to make her own living.

It is hard to imagine an American daughter that has no opportunity except as a barer of male children. What is a young Chinese girl to do if her life options are limited? What is any human to do if their options are unfairly limited? The poor in America know, but that is another book.

“Factory Girls” is an impressive report of the massive cultural change occurring in China. It is an astounding affirmation of the “will to power” explained by Friedrich Nietzsche. It is the drive of the superman (or woman) to perfect and transcend the self through the possession and exercise of creative power.

One cannot help but admire the factory girls of China; i.e. as difficult as the reality of their lives seems to be.

A BRADBURY CLASSIC

Audio-book Review
By Chet Yarbrough

(Blog:awalkingdelight)
Website: chetyarbrough.blog

The Illustrated Man
By Ray Bradbury

Narrated by Paul Michael Garcia

Flights of imagination sparkle and spin in this updated 1950s Ray Bradbury classic. This compendium of Bradbury’ tales is titled “The Illustrated Man”.

ROD SERLING (1924-1975, SCREENWRITER, TV PRODUCER, NARRATOR)

Bradbury spins stories; reminding one of late night re-runs of Rod Serling’s “Twilight Zone”. Every episode sparkles with stars and planets, habitable by man but riddled with fear, death, and destruction. Bradbury grasps human nature and turns it against itself by writing stories that illustrate man’s selfishness, insecurity, wantonness, and aggression.

Tattoos come alive on rippling skin to act out a series of plays about mankind’s future. Everyone fears the illustrated man because his tattoos expose the worst in man. Belief that nuclear cataclysm will end life on earth blooms like a mushroom cloud. Traveling to other planets changes mankind’s environment but man’s nature remains the same.

THE ILLUSTRATED MAN (PLAYED BY ROD STEIGER) — THE ILLUSTRATED MAN (PLAYED BY ROD STEIGER IN A 1969 MOVIE) Tattoos come alive on rippling skin to act out a series of plays about mankind’s future.

AYN RAND (1905-1982) — AYN RAND (1905-1982, AUTHOR WHO FIRMLY BELIEVED IN THE VIRTUE OF SELF-INTEREST) Unregulated self-interest is a dangled reward stolen by one to keep it from the many; in the end the reward is destroyed by the selfishness of each against the other.)

These are not happy stories but they are great flights of imagination. Bradbury tells a story of human exile and deprivation that exacerbates selfishness when personal reward is dangled in front of exiled and deprived human beings. The dangled reward is stolen by one to keep it from the many; in the end the reward is destroyed by the selfishness of each against the other.

Insecurity is a devouring beast in the story of a planet blessed by an appearance of a Visitor (presumably Jesus) just before a rocket ship lands on the planet that has been visited. The captain disbelieves it has happened and is driven to track down this Visitor rather than settle in the insecure surroundings of a unblessed world. The captain is left to wander the universe, never to arrive in time to actually see the Visitor.

Wantonness is illustrated by the husband that is unhappily married. He duplicates himself. His duplicate takes his place beside his wife so he can buy a ticket to Rio to exercise his fantasy. The duplicate is so perfect it becomes as human as the husband. The duplicate places the wanton husband in a box to die, and buys a ticket to Rio for his wife to accompany it in its fantasy.

Human kind is aggressive. Humans conquer and destroy civilizations. One world of the future prepares for a second visit from mankind by becoming the image of a City. This image devours the men of the second visit and assumes their bodies; i.e. the City image is transformed into the bodies of the humans from this second visit. The City image plans to return to earth to destroy those who had destroyed them.

NUCLEAR DETONATION ABOVE TEST TARGET 1986 — Human kind is aggressive. When human’s conquer or destroy others, others rise to destroy those who had destroyed them. An endless circle of life where agression eats itself.

Bradbury is a master story-teller. Paul Michael Garcia’s narration is a tribute to Bradbury’s skill.

MADOFF’S PERPETRATORS

Audio-book Review
By Chet Yarbrough

(Blog:awalkingdelight)
Website: chetyarbrough.blog

Ponzi Supernova—Madoff Speaks

Recorded by: Audible Original

Produced by: Steve Fishman

STEVE FISHMAN (NEW YORK MAGAZINE REPORTER)

In “Ponzi Supernova”, Audible offers recorded interviews with Bernie Madoff and other perpetrators of the largest Ponzi scheme in history. Steve Fishman conducts several telephone interviews with Madoff while he serves a life sentence for fraud. Steve Fishman gets the telephone interviews after wheedling his way into Madoff’s confidence through a fellow prisoner. To round out Fishman’s story, he captures telephone conversations with several other crooks, investigators, and victims of Madoff’s crime.

BERNARD MADOFF (AGE 74) SERVING 150 YEAR PRISON SENTENCE (Madoff died in prison on 4/14/21 at the age of 82).

Fishman shows how a sixty billion-dollar Ponzi scheme is created and how it escapes detection for over twenty years. Supplemented by audio books like “The Big Short”, and “No One Would Listen”, Fisher amplifies Madoff’s unconscionable crime with recordings of victims who lost their life savings. Fisher explores the perfidy of banks and investment companies that mindfully ignored Madoff’s impossible investment returns; all the while, being financially benefited from Madoff’s lies.

“Ponzi Supernova” reveals how Madoff created an empire of greed. Madoff comes off as an average intellect with a big ego, meager technological skill, and zero empathy. He hid behind the shadow of prestige.

Madoff refuses to take responsibility for his crimes and exhibits no remorse for the grief and death of others effected by his crimes. As a person, Madoff reminds one of a sociopath

Madoff manages to appeal to the greed of human beings and blames others for their greed. He manufactures investment data that hides the truth of his investment skill and his organizations’ portfolio. He takes investor’s money and uses new investor’s money to pay earlier investor’s returns. Few real trades support Madoff’s extraordinary portfolio performance.

“Ponzi Supernova” implies most of the investment firms; investment firms that knew of Madoff’s firm should have and could have exposed his lies. However, they were paid a fee for their service. Rather than investigate Madoff’s investment methodology, most investment firms gathered fees and left investors to fend for themselves.

Fisher notes how one analyst is sidelined by his investment company because he asked too many questions. The questions would have exposed Madoff’s scheme. Fisher also interviews an independent analyst that tells a client not to invest in Madoff’s company because she saw too many red flags. For instance, Madoff would not provide examples of his past investments to show how he made such remarkably steady returns; even in a falling market. Madoff’s standard refrain was “trust me”.

Like stories in “The Big Short” and “No One Would Listen”, Fisher’s recordings show institutional incompetence by government regulators, and greed from the private sector.

The SEC interviews Madoff on numerous occasions. Often the SEC representative is young and inexperienced. When reports are requested, Madoff’s back-office team manufactures whatever information is requested. The reports have no basis in truth. The reports are manufactured to satisfy whatever question is asked. If the SEC had called to confirm whether the trades had really been made, they would have exposed Madoff for fraud. Rather than check specific trade transactions, the SEC settled for a simple report that said Madoff had a trade account.

Nearly eleven billion dollars of the sixty billion-dollar Ponzi scheme is recovered. However, the recovery is largely limited to American investors by what are called “claw backs”. The “claw back” is from investors who had taken their money out before Madoff’s collapse in 2008. Other countries had no “claw back” provisions which meant many non-Americans lost everything.

Madoff and a few of his employees went to jail, but many escaped with fines and admonishment. “Ponzi Supernova” clearly implies both the government and private sector were guilty for losses by many small investors. These investors relied on government regulation and private sector financial advice.

If there is a lesson in this story, it is that every person should closely monitor their own investments. Most, if not all, human beings are seduced by money, power, and/or prestige. It is every investor’s responsibility to know how their investment adviser is benefited by your investments in their recommendations. Better to make your own investment mistakes, rather than rely on others who have a financial interest in your trading decisions.

WEAPONS OF WAR

Audio-book Review
By Chet Yarbrough

(Blog:awalkingdelight)
Website: chetyarbrough.blog

The Arsenal of Democracy: FDR, Detroit, and an Epic Quest to Arm an America at War

Written by: A.J. Baime

Narration by: Peter Berkrot

“The Arsenal of Democracy” takes a retrospective look at an epic quest by America to build an arsenal of weapons before entry to World War II. Some surprising names are shown to have Nazi sympathies and anti-Semitic beliefs. Those abhorrent sympathies and beliefs are cloaked by pacifist and capitalist credos.

There is the capitalist credo that unregulated self-interest is the most important determinant of success. There is the pacifist credo that someone else’s tragedy is an opportunity for economic gain. Some pre-WWII movers and shakers are tainted by capitalist greed and prejudice. A. J. Baime shows there are two sides to the story of “The Arsenal of Democracy”.

CHARLES LINDBERGH’S 9/11/1941 SPEECH IN DES MOINES, IOWA;

HENRY FORD (1863- 1947, AMERICAN INDUSTRIALIST, FOUNDER OF FORD MOTOR CO.)

Henry Ford, the “god” of America’s industrial revolution, is awarded the “Grand Cross of the German Eagle” by Nazi officials in 1938. He is 75 years old. The Grand Cross is the highest honor that can be given to a foreigner by the Nazi government. (The only other American recipient is Charles Lindbergh.)

Baime accusatorially notes that Ford is the only American named in Hitler’s “Mein Kampf”; i.e. the most well-known anti-Semitic book ever written. Ford did not wish to enter WWII. One may draw their own conclusion, but it stretches credulity to believe it is unrelated to Ford’s personal prejudice and presumed economic gain.

Ford is not the only self-made millionaire who believes America should not enter the war. Joseph Kennedy is equally opposed. Of course, before Pearl Harbor, the majority of Americans were against entering the war. However, Ford and Kennedy share a capitalist entrepreneur’s amoral belief that everything is negotiable, including peace with Hitler.

This amoral belief is characteristic of an idealized business model reflected by writers like Ayn Rand; i.e. it is a belief that the strong survive. and the weak deserve their fate. (This is an amoral belief evident in today’s American President, and a number of congressional representatives.)

Though Kennedy is not as clearly tainted by anti-Semitism as Henry Ford, both believe war is not a solution to Hitler’s aggression. Business men like Kennedy and Ford believe political leaders, like prudent business leaders, will fail if they do not benefit their country’s citizens and employees by staying out of war and making a profit. They, like most Americans, could not believe holocaust rumors could be true. Baime suggests the stark evidence of Jewish slaughter after the war shakes Henry Ford’s conscience. (One is inclined to doubt Baime’s conclusion considering Ford’s history of anti-Semitism.)

WW2 CONSPIRACY—FORD BUILDS TRUCKS FOR NAZIS, B-24S FOR USAAF,

FRANKLIN D. ROOSEVELT (1882-1945, 32ND PRES. OF U.S.,1933-1945)

Baime primarily focuses on how “The Arsenal of Democracy” came into being. Baime recounts “The Arsenal of Democracy” speech given by FDR on December 29, 1940. The year before Pearl Harbor, Henry Ford reluctantly agrees to join the automobile industry mavens in re-tooling car manufacturing for the defense of America.

WILLOW RUN ASSEMBLY PLANT,

Ford’s brilliant innovation in assembly line manufacturing is recognized as key to FDR’s vision of “The Arsenal of Democracy”. Ironically, Ford despises FDR and explains that Ford Corporation’s contribution is based on defense of America and not intervention in a European’ war. The leader of the Corporation, on paper, is Edsel Ford but Henry, until Edsel’s death in 1943, retains veto power over any corporate decisions.

THE ARSENAL OF DEMOCRACY SPEECH BY FDR:

EDSEL BRYANT FORD (1893-1943, SON OF HENRY FORD, PRESIDENT OF FORD MOTOR CO.)

Edsel and Ford Corporation’s managers finally convince Henry to build Willow Run, the largest assembly plant of its time, to produce American bombers. The goal is to produce a completed airplane bomber at a rate of one per hour. Baime argues that the goal is achieved through Edsel’s leadership; complemented by innovations created by Ford Corporation’s experienced managers; e. g. men like Charles Sorenson, the lead engineer and designer of the company.

In a muddled side story, the role of Harry Bennett is explored by Baime. The story is muddled because it is shrouded in mystery involving rumors of Bennett’s mob-informant role for the FBI; his contacts with foreign interests, and his strong-arm tactics against union sympathizers. Henry Ford expresses great confidence in Bennett’s ability.

BRIEF BIOGRAPHY OF HARRY BENNETT : <iframe width=”640″ height=”390″ src=”https://www.youtube.com/embed/Z0jyOfSg0P8″ frameborder=”0″ allowfullscreen> Baime suggests Henry Ford treats Bennett like more of a son than Edsel. When Edsel dies, Baime writes that Edsel’s wife accuses Henry of being the proximate cause of Edsel’s death because of Henry’s constant criticism (Edsel dies in 1943 with a diagnosis of stomach cancer).

FOOTAGE OF THE 1941 STRIKE WITH A GLIMPSE OF HARRY BENNETT: <iframe width=”640″ height=”390″ src=”https://www.youtube.com/embed/PLN1svpbPBA” frameborder=”0″ allowfullscreen>

This is an interesting story but one has to remember the context of the time to have a fair perspective of villains in sheep’s clothing. Henry Ford is an anti-Semite but he joins a vast number of Americans that were equally anti-Semitic.

5 CORPORATIONS THAT HELPED CARRY OUT THE HOLOCAUST: <iframe width=”640″ height=”390″ src=”https://www.youtube.com/embed/RXh7HfEFhik” frameborder=”0″ allowfullscreen>German anti-Semitism did not suddenly spring from one demented leader. Henry Ford came from the same primordial swamp that all human beings came from.

THE TWO FACES OF HENRY FORD:

Baime notes that Edsel Ford had contact with Hitler’s French puppet government leaders. Edsel is accused of aiding Ford Corporations’ manufacturing capability in occupied France. Intertwining relationships often distort truth but there is a conflict-of-interest odor surrounding Ford Corporation’s actions before and during the war.

The facts are that creation of “The Arsenal of Democracy” would have been a pipe dream without Henry Ford, Edsel Ford, Charles Sorenson, the industrial capability of the auto industry, and the American people. Truth and history do not forgive anti-Semitism, manager’s exploitation of workers, human greed, illegal dealings with the underworld, or nasty treatment of a sons by fathers. The truth is and always will be–human beings are good and bad. Baime’s story of “The Arsenal of Democracy” joins a pile of books affirming the moral duality of humankind.

AMERICA’S MOMENTUM

Audio-book Review
By Chet Yarbrough

(Blog:awalkingdelight)
Website: chetyarbrough.blog

America’s Bitter Pill: Money, Politics, Backroom deals, and the Fight to Fix Our Broken Healthcare System

Written by: Steven Brill

Narrated by: Dan Woren

STEVEN BRILL (AMERICAN LAWYER, JOURNALIST, AUTHOR)

“America’s Bitter Pill” is a policy wonk’s dream and an American citizen’s nightmare. It reveals the role of money and politics in American government. Steven Brill overwhelms readers, which are not policy wonks, with disgusting political backroom deals and entrenched private and non-profit interests. The disgust comes from the distortion of the most important legislation passed by the American’ Federal Government since the New Deal. Government leaders, private industry, and non-profit corporations worry more about being re-elected or having their pockets lined than providing basic health coverage to the American’ public.

FRIEDRICH AUGUST von HAYEK (1899-1992) — Even the “god” of conservative economics, Friedrich von Hayek, believed government had a responsibility to provide “…a comprehensive system of social insurance in providing for those common hazards of life against which few can make adequate provision.”

Brill indicts a political process that seems freighted with more venal self-interest than good will. How can one argue that the private sector through an “invisible hand” is adequately providing health care to a general public in the richest country in the world? Too many Americans have no health coverage because they cannot afford it. All one has to do is ask how many Americans do not go to the doctor because they cannot afford the visit and do not have insurance against catastrophic illness. Even the “god” of conservative economics, Friedrich von Hayek, believed government had a responsibility to provide “…a comprehensive system of social insurance in providing for those common hazards of life against which few can make adequate provision.”

What Brill shows is that the value of high profits to private and non-profit insurance and medical facilities is more important than offering reasonably priced health care to the general public. What every special interest lobbied for in the Affordable Care Act depended on improving or maintaining profit. “America’s Bitter Pill”, the Affordable Care Act, is laced with greed. The Affordable Care Act has extended insurance to more people in the United States than ever before, but it continues to rankle knowledgeable Americans because it is based on the false belief that it will cure an incurable disease, human greed.

ADAM SMITH (1723-1790, AUTHOR OF -THE WEALTH OF NATIONS) — ADAM SMITH (1723-1790, AUTHOR OF -THE WEALTH OF NATIONS-Many politicians hid behind the mythic part of an “invisible hand” to rationalize their cave-in to special interests.)

Many politicians hid behind the mythic part of an “invisible hand” to rationalize their cave-in to special interests. Hiding is shown to be non-partisan by Brill because it includes both Democrats and Republicans. The mythic part of the “invisible hand” is the belief that self-interest is always in the best interest of the public.

President Obama chose the only path he could see to have any chance of passing an Affordable Care Act. The only voting majority in America’s bicameral Congress that had any chance of success is shown by Brill to be dependent on acceptance by insurance companies, hospitals, the pharmaceutical industry, and ancillary medical service equipment manufacturers.

An optimist chooses to believe America’s flawed legislative system will, in the long run, serve its public better than any other known form of government. The optimist believes the Affordable Care Act will be improved over time and will mitigate increased health care costs. The pessimist believes the Affordable Care Act is a boondoggle. The pessimist believes American government is accelerating its move toward tyranny. A realist suggests the Affordable Care Act is Democracy in action.

THE ARC OF JUSTICE Even in these troubled times, the messiness of American Democracy bends toward a resolution of intractable social ills.

The momentum for health reform, ecological balance, and equal rights is unstoppable. No singularly elected American politician will change the direction of that momentum.

RUSSIAN REALPOLITIK

Audio-book Review
By Chet Yarbrough

(Blog:awalkingdelight)
Website: chetyarbrough.blog

Red Notice

Written by: Bill Browder

Narration by: Adam Grupper

If only a few of Bill Browder’s facts and accusations are true, the realpolitik of Vladimir Putin shocks the senses. “Red Notice” reflects on the diplomacy of Russian power.

In his book, “Red Notice”, Browder tells a story that implies Putin is a thug. Browder infers that Putin will lie, steal, and murder with the brutality of Joseph Stalin, the cunning of Machiavelli, and the tenacity of Genghis Kahn. Browder believes Putin uses his position as President to acquire wealth as second only to his desire for power.

Acquiring wealth is something Browder knows quite a lot about. William Browder is an investment fund manager/partner who ventures into Russia at the beginning of glasnost. Russian businesses and industries became private rather than state-owned enterprises at the end of the 20th century.

Beginning in 1996, Browder and his investors assemble a capital investment fund worth billions of dollars in 2005. Browder began the fund with other people’s money. The fund becomes known as Hermitage Capital Management. As a result of his analysis, Browder’s investment group buys Russian assets at steeply undervalued prices. He earns over two hundred million dollars per year for himself in 2006 and 2007.

BROWDER’S STORY OF HERMITAGE CAPITAL:

In 2005, Browder is deported by the Russian government. In 2006, Browder is black listed by the Russian government as a “threat to national security”. In March of 2013, the bank that serves as trustee and manager of Hermitage Capital Management announces it will cease funding operations in Russia. Browder gleefully points out in “Red Notice” that all of Hermitage Capital Management assets had been surreptitiously withdrawn in 2007. Browder is presently being sued in absentia by the Russian Government for tax evasion. Therein lays a tale of suspicious deaths, human greed, and conspiracy.

Browder assembles a great deal of evidence that suggests two people are murdered; that murder’ accomplices are paid a great deal of money, and that President Putin either sets the example for thuggish behavior or is complicit in a scheme that defrauds the Russian people.

DUTCH JOURNALISM’S INVESTIGATION OF THE RISE OF PUTIN:

SERGEI MAGNITSKY (1972-2009, RUSSIAN ACCOUNTANT AND AUDITOR VITIMIZED IN RUSSIA--WORKED FOR BILL BROWDER) — SERGEI MAGNITSKY (1972-2009, RUSSIAN ACCOUNTANT AND AUDITOR VITIMIZED IN RUSSIA–WORKED FOR BILL BROWDER)

The two alleged murders are Sergie Magnitsky and Alexander Perepilichnyy. Magnitsky dies in the custody of the Russian government. He is identified as an attorney in Browder’s book but research suggests he is not licensed as an attorney in Russia. Magnitsky discovers a scheme by Russian government employees to recover taxes paid by Browder’s companies in Russia. The scheme is based on charges that the companies that paid the taxes were illegally pilfered by Browder’s investment company. The companies were transferred, without Browder’s knowledge or authorization, to shell company Russian owners. These owners are found to be two officers in the Russian secret police. The new owners suggest the companies they own have been pilfered and that they should be reimbursed for taxes that were paid to the government because of Browder’s fraudulent transfer of worthless assets.

Magnitsky and two Russian lawyers present evidence to the Russian government about the fraud being perpetrated by the two Russian officers. The two Russian lawyers decide to flee their country when they believe they are going to be arrested. Magnitsky believes facts speak for themselves; that he is safe, and the government will recognize and arrest the real criminals. Magnitsky is arrested, beaten, and dies in prison. The two officers, Artem Kuznetxov, and Pavel Karpov remain free.

MAJOR KARPOV EXPOSE:

ALEXANDER PEREPILICHNY (OLIGARCH THAT MAY HAVE BEEN MURDERED AT AGE 44 FOR EXPOSING RUSSIAN TAX FRAUD CASE ASSOCIATED WITH BROWDER INVESTIGATION)

Alexander Perepilichny was a Russian business man who defected from Russia in 2009. Perepilichny dies at the front door of his residence in the UK. Magnitsky was a forensic accountant in Russia. Living in England in 2012, he contacts Browder to say he has evidence of how the Moscow tax office rebated taxes to the two government officials. Browder contacts the chief constable of Surrey in England to tell them of Perepilichny’s evidence. Browder accuses Russian officers of fraud, costing the Russian state $230 million dollars.

Three videos of the alleged fraudsters are created as evidence of the Russian officers’ fraud. The evidence relies on their life style versus the income they receive from the Russian government. In Browder’s book, this evidence is overlaid with the prosecution of Russian oligarchs by Putin with the inference that those oligarchs that do not offer money to Putin are at risk of being jailed.

SYNOPSIS OF THE MAGNITSKY CASE:

“Red Notice” is a powerful statement about one man’s view of Vladimir Putin. As noted at the beginning of this review, “if only a few of Bill Browder’s facts and accusations are true…” Putin’s reputation, if not his power and wealth, are diminished. At the same time, Browder’s ludicrously large capitalist windfall at the expense of the Russian economy, and two Russian’ deaths, does little for his reputation.

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