Rich Cohen
huffingtonpost.com

The great problem of the age is inherited wealth, and the great danger is the sons and grandsons of the super-rich. We have become a nation of dynasties — political dynasties, newspaper dynasties, sports franchise dynasties, Hollywood dynasties, literary dynasties. What’s more, these dynasties were often founded in the boom after the Second World War, which means they are in their second or third or fourth
generations, which are far weaker than the founding generation. You see this in financial scandals where children use money from the company as if it were their own, in institutions that buckle when first put under pressure: newspapers, military, government. The fact is, you do not know the strength of an institution until it is tested; until then it is living on its reputation. In every generation every business is a new business and every nation is a new nation. The name and flag and cities are all the same, but the people are all different. You cannot know their character until they are tested. Which is to say, if you want to understand modern America you have to understand the geometry of inherited wealth — the way that great fortunes dissipate over time.
This is a problem I understand because I’m in the third generation of a family fortune. I was disinherited from this fortune, which means I am free from the obligations and the codes of inherited wealth. I have been kicked out of the club so am happy to teach you the secret handshake. It also means that I have been thrown back into the first generation — forced to invent my world, to play jazz. For a man who has inherited wealth, even a man, like Trump, who inherited wealth then turned it into more wealth, it will always be Grandpa’s world. That’s why Trump puts his name on everything. He’s a kid saying to himself in the dark, “I am here, I am here, I am here.” (more…)
Nobody remembers who started it. Perhaps that guy from HR lobbed a wadded up piece of paper over the cube wall at you? It could have been one of those accounting dudes with the marshmallow-gun. It doesn’t matter, now. You are armed.


HOUSTON, March 29 — Prices at the pump are rising again, much as they do every spring as oil traders bid up the price of crude ahead of possible summer shortages. Possibilities for more conflict in Iran and elsewhere in the Middle East are adding to the surge.

On The Situation Room yesterday, John McCain told Wolf that the surge is so encouraging that General Patraeus now travels around in unarmored Humvees and American soldiers can walk around the streets of Bahdad safely. When confronted today by John Roberts, McCain backpeddled faster than he did on gay marriage in Iowa.
