Month: February 2012

All across the nation, there are mainstream Republicans lamenting how the party has grown more and more insular, more and more rigid. This year, they have an excellent chance to defeat President Obama, yet the wingers have trashed the party’s reputation by swinging from one embarrassing and unelectable option to the next: Bachmann, Trump, Cain, Perry, Gingrich, Santorum.

But where have these party leaders been over the past five years, when all the forces that distort the G.O.P. were metastasizing? Where were they during the rise of Sarah Palin and Glenn Beck? Where were they when .Arizona passed its beyond-the-fringe immigration law? Where were they in the summer of 2011 when the House Republicans rejected even the possibility of budget compromise? They were lying low, hoping the unpleasantness would pass

Today the world’s gold stock is about 170,000 metric tons. If all of this gold were melded together, it would form a cube of about 68 feet per side. (Picture it fitting comfortably within a baseball infield.) At $1,750 per ounce – gold’s price as I write this – its value would be $9.6 trillion. Call this cube pile A.

Let’s now create a pile B costing an equal amount. For that, we could buy all U.S. cropland (400 million acres with output of about $200 billion annually), plus 16 Exxon Mobils (the world’s most profitable company, one earning more than $40 billion annually). After these purchases, we would have about $1 trillion left over for walking-around money (no sense feeling strapped after this buying binge). Can you imagine an investor with $9.6 trillion selecting pile A over pile B?

He could easily not have known, because as you can imagine, at these kinds of parties you’re not always dressed, and I challenge you to distinguish a naked prostitute from any other naked woman.