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The Maryland Blogger Alliance
The Global Economy at work
Back in April, Reuters reported:
LONDON - [A] Beijing-based billionaire has splashed out a record $500,000 on 27 bottles of red wine, London-based Antique Wine Company said on Saturday.The anonymous Chinese entrepreneur bought [who cares about the details?] "It is the highest price that has ever been achieved for a single lot," Managing Director Stephen Williams of the London- based Antique Wine Company told Reuters on Saturday." I don't think he has bought this as an investment -- he has bought it to drink," he added. "The fine wine industry is completely immune from the global credit crunch." The client's biggest previous purchase was 30,000 pounds ($59,880) for a case of 1982 Chateau Petrus.
So, do you figure that this anonymous Chinese entrepreneur has made his pile selling tchotchkes to Wal-Mart? Stuff nobody really needs, to be bought by people who ought to spend their money on necessities.
How is Obama planning to protect us from predators such as this? Hard-working Americans are having to make do with Mad Dog 20/20 while this guy drops $18K a bottle on some snobbishly pedigreed stuff that is still nothing more than fermented grape juice.
It's mad, I tell you, mad!