| Today's,
letter is about sex. No not the kind of tawdry, vulgar sex you see on TV.
This is about something else... something much dirtier. Any connection
to investing or economics is purely coincidental.
I am probing
the living heart muscle - like a nurse searching for a collapsed vein...or
maybe a doctor looking at an EKG... what do those little peaks and valleys
mean?
A redhead
in long white pants, and a pink tank top sauntered down the street.
She was absolutely gorgeous, too. A model maybe. She walked fast, as if
she were late for an assignment. Then, there was a woman who looked like
Greta Garbo. And another one - a young Deneuve. Following her was a Brigitte
Bardot-like woman with a waifish face and a figure that reminded me of
someone. In fact, each one seemed to remind me of something - but I didn't
know quite what it was. It was like Proust's lemon cakes - triggering a
recollection so rich and inviting I could barely resist. But a recollection
of what? I was like an aging writer, trying to recall love affairs I never
had, and lovers I only imagined.
A woman
in an extremely small, extremely tight blue skirt walked towards the
caf‚. As she approached, the feeling - whatever it was - increased, like
the sound of an on-coming freight train. And then, there she was - right
outside the window - all motion... voluptuous... irresistible. I cannot
describe her in detail. She was everything a woman should be. And as she
passed, the wave washed over me, leaving me crumpled up, broken, collapsed
on the beach.
Francis Galton,
Darwin's cousin, was so fascinated by some of the women he saw in Africa,
he could scarcely believe they were real. He got out his calipers and other
measuring devices and went to work, moved no doubt by the spirit of scientific
curiosity.
But it was
not science that moved me on Friday.
Just as one
wave subsided another wave built up - a woman in a yellow dress, a stunning
woman with hair nearly the same color as her dress... riding a bicycle.
Could a woman in a dress that short be really be riding a bicycle, I asked
myself as she drew alongside the caf‚ window. And then, she passed, and
I felt as though my surf board had slipped out from under me and I crashed
down onto the beach. Oh my... the rocks!
It is summer.
Not technically yet. But it sure looks like summer. The streets of Paris
are full of attractions and distractions. Enticing, enchanting, absolutely
intoxicating...
Of course,
not all the people passing the Caf‚ St. Andre on Friday were beautiful
young women. There were also a few handsome young men. (Do women feel
the same way way when a handsome man passes? I don't know...)
Then, too,
there were quite a few tourists - many of the recognizably American. One
couple was typical. The woman looked bright and chipper, like she had invested
in Microsoft back in 1987 and gotten a good night's sleep on the plane
from New York. The man was a different story. He looked as though he had
waited until December of '99 to buy Microsoft and hadn't slept a wink.
His jaw was slack and looked as though he could use a good drink.
"Back in
1897," Gary North tells us, "economist-sociologist Vilfredo Pareto's
study of income distribution appeared. He surveyed the larger countries
of Europe and found that there was a strange income distribution curve
in all nations that he studied. Something in the range of 20% of the population
received about 70% to 80% of the income."
The 80/20 rule
became known as Pareto's Law. As recently as 1998, it was tested in a study
of the U.S. and Canada. Again, it was discovered that little had changed.
In 1997, the top 20% of the population owned 84.3% of the wealth.
Gary concludes
that "Getting rich is simply not possible for 80% of the population.
Anything that offers the hope of riches to the middle-class majority is
a delusion."
It may be a
delusion, but it is certainly a popular one. People want to get rich. They
do not need to get rich.
I remind myself
that beauty is only skin deep. And like money, it is superficial. But superficial
seems plenty deep enough. Money can't buy love. But it can buy those Russian
women in the Bois de Boulogne. And what would be nicer - a 30 minutes of
cheap, imitation love with the woman on the bicycle... or a lifetime of
the real thing with Janet Reno?
Hmmm... maybe
I'm thinking too small. Or too American. Why settle for 30 minutes? French
men often have mistresses they keep for decades. President Mitterand's
mistress shocked society in France by showing up, with his illegitimate
daughter, at his funeral. It was not the revelation that he had a mistress
that was shocking. Everyone knew that. But that she would attend the funeral
- - that just wasn't done.
Radical feminists,
bless their hearts, (if they have hearts), say that there's no difference
between traditional marriage and prostitution anyway. In both cases, the
woman is kept (at great expense, I might add) in order to give the
man what he wants.
But the radicals
don't understand the difference between want and need. What you want is
what you don't have - even if what you have is better.
Finishing my
blanquette de vaux, the waiter returned.
"Dessert"
he asked, "can I recommend a cherry tart?"
"Oh yes..."
Your correspondent,
hard at work...
Bill Bonner
P.S. I am glad
I am happily married. Otherwise, I might be tempted. I might buy a tech
stock at 200 times sales. Or try to meet a redhead. Either way, I'm sure
I would regret it. |