The Daily Valet. - 1/17/23, Tuesday
✔️ Rich Get Richer. Again.
Tuesday, January 17th Edition
By Cory Ohlendorf, Valet. Editor
It's already Tuesday ... this week will be a breeze, right?
Today’s Big Story
Rich Get Richer. Again.
Calls for new taxes on super-rich after the 1% pocket two-thirds of all new wealth
It's not exactly surprising. But perhaps the actual dollar amounts are, a bit, shocking. According to a new Oxfam report, nearly two-thirds of the $42 trillion in new wealth created since the start of the pandemic has gone to the world's richest 1%.The charity's report on global inequality, released to coincide with the World Economic Forum's annual meeting in Davos, Switzerland, notes that both extreme wealth and extreme poverty grew over the past two years. Oxfam said that, for the first time in a quarter of a century, the rise in extreme wealth was being accompanied by an increase in extreme poverty, and called for new taxes to be levied on the super-rich.As the report observes: “A billionaire gained roughly $1.7 million for every $1 of new global wealth earned by a person in the bottom 90%.” Wow. Put simply, when only a small fraction of the global population has all the money, that leaves relatively little for everyone else.According to NBC News, this is “economically toxic because consumer spending represents much of economic activity in capitalist countries.” In the United States, consumers account for about two-thirds of gross domestic product. This is why most reputable economists say the wealth and income gaps pose a major threat to economic growth and vitality.What's more, Oxfam found that extreme concentrations of wealth have led to weaker growth, corrupted politics and the media, corroded democracy and led to political polarization. The super-rich were key contributors to the climate crisis, the charity added, with a billionaire emitting a million times more carbon than the average person. They were also twice as likely to invest in polluting industries, compared with the average investor. They're calling on governments to introduce “immediate one-off wealth levies on the richest 1%, together with windfall taxes to clamp down on profiteering during the global cost of living crisis.” Think it's possible?
FYI:
A tax of up to 5% on the world’s billionaires could raise $1.7 trillion a year—enough to lift 2 billion people out of poverty, and fund a global plan to end hunger.
Is Russia Preparing for a Long War?
Ukraine reeling from deadliest strike on civilian building in months
The death toll from a Russian missile strike on an apartment building in the Dnipro, central Ukraine, over the weekend has risen to at least 40, including three children, Ukraine's State Emergency Service said on Monday.It's among the deadliest attacks on Ukrainian civilians since before the summer, according to the Associated Press-Frontline War Crimes Watch project. Residents said the apartment tower did not house any military facilities.But the strike fits a pattern of Russia firing long-range missiles at civilian targets, including residential neighborhoods and electrical plants—what military analysts say is a Russian strategy to terrify civilians and pressure the Ukrainian government into talks. And the Institute for the Study of War, a Washington think tank, reported signs of the Kremlin taking steps to turn its invasion into “a major conventional war” after months of embarrassing military reversals.
Meanwhile:
U.S. Army Gen. Mark Milley, chairman of the Joint Chiefs of Staff, visited a training site for Ukrainian soldiers on Monday.
Americans are left with the reality that the two potential opponents in the 2024 presidential election will both be subjects of special counsel probes as their campaigns take shape.”
- Dan Balz on why the Biden and Trump cases aren’t alike
The ‘This Is Fine’ Meme Is Now 10
The creator wants to put the famous dog to rest
Thanks to that big-eyed dog up there, the ironic phrase “This is fine” today means things are not really that fine at all. We all know this self-reassuring, coffee-drinking dog, right? Well the meme is now officially 10 years old.Web comic artist KC Green, who put out the comic strip that spawned the meme, recently marked the anniversary on Twitter. The infinitely relatable pooch has been used to comment on everything from the stress of exams to the ravages of climate change. But Green also has a whole body of unrelated work that he wishes more people would associate with his name. He just recently completed a comic adaption of Carlo Collodi's Pinocchio that he's particularly proud of.Though his creation has taken on a life of its own, the artist accepts it as a natural consequence of what it means to create content online. He thinks his comic panel has resonated with so many people for so many years because of its simplicity. “I made it vague on purpose,” he told NPR. “Like any good piece of art, people interpret it how they want to.”
Meanwhile:
Saying “this is like a Black Mirror episode!” is apparently so five years ago.
A Remote for Remote Workers
A new device Enhances Your Virtual Meeting Experience while also, maybe, protecting you
Well, we probably could've used this a year (or two) ago, but better late than never. And it's not like remote/hybrid working is going anywhere anytime soon, right?Boop is a new three-button, tactile remote that plugs into your computer to make it easy to turn off your screen or mute your microphone. How many awkward (and occasional job-ending) moments on Zoom—you know what we're talking about—could have been spared if people knew how to do this simply and quickly?This device puts those options right at your fingertips. It also adds screen sharing, another weak spot for the Luddites. And the company says it's compatible with all the major video meeting/conference apps.
Resreve:
Boop is not yet out, but those who sign-up will get an early adopter discount.
In Other News
It's the start of what is expected to be a long decline.
Have you heard about ...
Want to Thrive? You Have to ‘Die’
The secret to getting what you really want in life
Our resident life coach took on a wild challenge ... and it was so successful, he started teaching it to his clients. And that worked so well, he decided to share it with us for our '31 Days' series. Are you ready for it? Because it means facing your own mortality. Here's how he explains it: A couple summers ago, I was on a men’s retreat in the North Carolina mountains. And for the first day, all of us guys talked animatedly about how we wanted to be better men: more fulfilled in our lives, more skilled in our relationships. We made big promises, and set big intentions for how we wanted to show up when we returned to our jobs, families, friends and communities. By morning two, everyone was feeling great. Until we heard a knock at the door, that is, and fourteen faces swung around to see a tall, dark-cloaked figure dressed as the grim reaper tread into the living room, dragging his scythe. I remember my stomach sinking at the symbolism.But here's the thing: It produces epic results. As Buddhist teacher Stephen Levine writes in A Year to Live: How to Live This Year as if It Was Your Last, “How soon will we accept the opportunity to be fully alive before we die?” We outline five ways on how we can go about doing just that.
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Shopping
What We’re Buying
A Signet Ring
You've got a necklace, maybe a bracelet, but have you messed around with rings yet? Jewelry is one of the easiest ways to experiment or elevate your casual looks. And this modern signet ring ($128) from Mejuri provides a linear design update to a classic style. It's the perfect size (not too big) and comes in your choice of metal—14K gold, black titanium and our favorite, sterling silver.
Want More?
The five stylish items you should be buying this week
Morning Motto
Remember, weird is good.
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