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Tuesday, August 17, 2010

Media-Whore D'Oeuvres



"The world economy reached a major milestone Monday when China officially became the world's second-largest economy, displacing Japan, which has held the title for more than four decades. The recognition of China's new status came after the Japanese government reported that, after a quarter of slow economic growth, the country's annual gross domestic product (GDP) was estimated to be around $1.28 trillion, slightly below China's $1.33 trillion. Do all countries use the same method for estimating GDP? They're supposed to. The System of National Accounts (SNA), a set of guidelines developed jointly by the United Nations, the European Commission, the International Monetary Fund (IMF), the Organization for Economic Co-operation and Development, and the World Bank, specifies the methods by which countries measure the size of their economies. There are two main methods for estimating GDP. One involves looking at production. This includes the value of the goods produced by all the firms in the country, the added value of government work projects, and -- particularly in developing countries -- the value of goods produced for personal consumption, like the crops grown by subsistence farmers. Not all wealth counts toward GDP. For instance, if you build a new house, that's considered value added to the economy. If a pre-existing house increases in value, the owner may be better off, but the country's GDP is unaffected. Of course, companies often have a vested interest in exaggerating their profits, so reliable figures can sometimes be tough to calculate." (ForeignPolicy)



"Tila Tequila got pelted with garbage at the Insane Clown Posse's Gathering of the Juggalos. Of course we decry the injury of a helpless little girl...or do we? I'm not condoning the injury of another human being, but I hate Tila Tequila. Because of her insane desire for fame complemented by a complete lack of talent and the complicity of the media in aiding her on her way to 'stardom'. She claws her way above the fray, saying look at me, LOOK AT ME! Quoting her MySpace statistics. People see her number of friends and do their best to imitate her, buying spins along the way, as if success was something that had nothing to do with intrinsic talent, but pure desire and marketing. Suddenly, Tila's everywhere. She's got her own show on VH1. And a sequel. She's gay, she's straight, she's the fiancee of a deceased socialite, she's dating a sports star. Hell, she's won, look at how much I know about her! A triumph of marketing. Tila Tequila is a star! Or is she?" (Lefsetzletter)

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