Berkeley CSUA MOTD:Entry 38941
Berkeley CSUA MOTD
 
WIKI | FAQ | Tech FAQ
http://csua.com/feed/
2017/11/19 [General] UID:1000 Activity:popular
11/19   

2005/8/2-4 [Finance, Finance/Investment] UID:38941 Activity:nil
8/2     This was an interesting read about an rich vs. poor riot in China.
        http://csua.org/u/cvy
        \_ Note to self: If surrounded by an angry mob, do not smirk and
           wave dismissively.
        \_ I hate to say this, but... I'm with the people. I don't agree
           with the senseless destruction of precious goods like Toyota
           sedans, but I think they really should have beat the shit out of
           Wu and his two body guards who act like mafias in the 40s.
        \_ herein lies the answer to the question "what's social justice [or
           lack thereof]" below.
        \_ Note how the rich dude and his two bodyguards got through completely
           unscathed (except for rich dude's car), while the computer-guy bike
           rider was left needing wires for his jaw and a nose job.
           The only person who lost out was the supermarket owner, who actually
           did the people a service having lived there 20 years.
           \_ If you're rich in China, you can get away with beating people.
              If you're rich in America, you can get away with murder.
              If you're rich in Mexico, you can do anything you want.
              It is good to be rich.
              \_ Not in a real communist country.  Check out what happened to
                 the rich in China in the 50s.  All rich guys were
                 automatically labeled "evil" and tortured.
                 \_ Well, most of the wealthy rich people escaped to HK
                    Taiwan or Phillipines so that they can continue using
                    their wealth and power to influence politics that
                    support their agendas.
2017/11/19 [General] UID:1000 Activity:popular
11/19   

You may also be interested in these entries...
2013/7/29-9/16 [Finance/Investment] UID:54717 Activity:nil
7/29    http://news.yahoo.com/study-finds-only-28-percent-173022359.html
        Only 28% of millionaires consider themselves wealthy. So it is
        not just my wife!
        \_ People have been using the term "millionaire" as a synonym for
           "rich" for a very long time.  But there's this little thing called
           inflation.  Having a million dollars in 1900 is roughly equivalent
	...
2013/2/21-3/26 [Academia/StanfUrd, Finance/Investment] UID:54612 Activity:nil
2/21    "Billionaire U: Why Harvard Mints Mega-Rich Alums"
        http://www.csua.org/u/zaf (finance.yahoo.com)
        All nine US schools on the list are private.  Speaking of upward
        mobility ...
	...
2012/12/21-2013/1/24 [Industry/Startup, Finance/Investment] UID:54568 Activity:nil
12/21   http://techcompanypay.com
        Yahooers in Sunnyvale don't seem to average 170K/year.
        \_ Googlers average $104k/yr? Uh huh.
           \_ what is it suppose to be?
              \_ link:preview.tinyurl.com/a36ejr4
                 Google Sr. Software Engineer in Sunnyvale averages $193k in total pay,
	...
2013/7/31-9/16 [Reference/RealEstate, Finance/Investment] UID:54720 Activity:nil
7[31    Suppose you have a few hundred thousand dollars in the bank earning
        minimum interest rate and you're not sure whether you're going to
        buy a house in 1-5 years. Should one put that money in a more
        risky place like Vanguard ETFs and index funds, given that the
        horizon is only 1-5 years?
        \_ I have a very similar problem, in that I have a bunch of cash
	...
2011/9/21-11/8 [Finance/Investment] UID:54178 Activity:nil 63%like:54180
9/21    I'd like to run a test algorithm on the stock market. Where's a
        good source to get stock market price (minute-per-minute resolution)
        from?
        I've been away procreating. Looks like wall is no more. Where have all of
        the old-timers gone to chat/argue/share? How are we all communicating these
        days. Sorry for the ignorant questions. :( -- joeking
	...
2011/10/24-11/8 [Finance/Investment] UID:54201 Activity:nil
10/24  If I trade my 401K stock on a quarterly basis (reshuffle/reallocate),
       are the gains considered capital gains?  How much is taxed on 401K gains?
       \_ You don't pay taxes on your 401k until you withdraw it.
          \_ Plus you can re-invest your gains again and again without being
             taxed first.  E.g. if you invest $1000 and gain $100, you can
             re-invest the whole $1100, without being taxed on the $100 first,
	...
2011/8/7-27 [Finance/Investment] UID:54157 Activity:nil
8/7     Can one of you stock market gurus explain the impact of the
        S&P downgrade to AA+? What would this mean for bonds and stock
        market in general?
        \_ stock volatility is up, and I'm making money! -week trader
           \_ made several $$$ yesterday from the panic.
              I love volatility.                -week trader
	...
Cache (8192 bytes)
csua.org/u/cvy -> news.yahoo.com/news?tmpl=story&cid=1802&e=3&u=/washpost/20050801/ts_washpost/a_chinese_city_s_rage_at_the_rich_and_powerful
Washington Post Foreign Service Mon Aug 1, 1:00 AM ET CHIZHOU, China -- Liu Liang, a slightly built computer student with big g lasses, was home in Chizhou for summer vacation. At about 2:30 on the ho t afternoon of June 26, he was pedaling his bicycle by the downtown vege table market on Cuibai Street. Click Here Driving down the same street in his new-looking black Toyota sedan was Wu Junxing, deputy manager of a hospital in nearby Anqing. Wu, accompanied by a friend and two bodyguards, had come to Chizhou that day to attend opening ceremonies of a new private hospital and, associates said, surve y the market to judge whether he should invest in his own facility. Liu's bicycle and Wu's shiny four-door sedan collided, sending Liu crashi ng to the ground. Almost immediately, witnesses said, Liu, 22, and Wu, 3 4, began arguing over who was at fault. In the heat of the dispute, they said, Liu damaged one of Wu's side-view mirrors, prompting Wu's muscula r bodyguards to burst from the car and beat the skinny young man sensele ss, leaving him bleeding from his mouth and ears. The beating, part of a minor traffic incident on a slow Sunday afternoon, ignited a spark of anger. The spark became a riot, evolving over eight chaotic hours into an expression of rage against the Chinese Communist P arty's new fascination with businessmen, profits and economic growth. After they saw what happened to Liu, Chizhou's self-described "common peo ple" rose up against what they perceived as their local government's wil lingness to side with rich outside investors against Chizhou's own. By t he end of the evening, 10,000 Chizhou residents had filled the streets, some of whom torched police cars, pelted overwhelmed anti-riot troops wi th stones and looted a nearby supermarket bare. The violence in downtown Chizhou startled the leaders of this forward-loo king city of 120,000, set in the rich alluvial farmland of Anhui provinc e near the Yangtze River, about 250 miles southwest of Shanghai. Dismaye d city officials deplored the impact on their campaign to attract invest ment and broaden Chizhou's economic base. But the riot here, like a growing number of flare-ups in other Chinese ci ties, was in fact directed against the flourishing alliance of Communist Party officials and well-connected businessmen that runs Chizhou. Befor e calm returned to the streets, the disturbance had become a political r ebellion against the increasingly intimate connection in modern China be tween big money and Communist government. "When anger boils up in your heart so long, it has to burst," said a Chiz hou man who was part of the crowd that night. As the Communist Party strives to continue the swift economic growth that has become its new ideology, the official partnership with private busi ness has generated resentment among those left behind: farmers whose fie lds become industrial parks, workers whose socialist-era factories go un der, youths with assembly-line jobs at $60 a month. In their eyes, the party that assumed power in China 56 years ago as a ch ampion of peasants and workers seems to have switched sides, backing cap italist businessmen instead of the poor as part of a new get-rich ethic in which bribery plays a big role. Recently, the resentment has exploded into violent protests, despite drac onian laws against attempts to challenge the party's rule. Although pres s censorship prevents an independent count, the government-funded Ta Kun g Pao newspaper said Public Security Minister Zhou Yongkang estimated th at 376 million Chinese were involved in 74,000 "mass incidents" during 2004. Hu Jintao and his lieutenants, who regularly call for stability as a condition for further economic progress. If the viole nt outbursts get out of control, they could undermine China's boom and, ultimately, the party's grip on power. Wu and his companions had just finished a long, beer-soaked lunch at a si dewalk restaurant when the collision with Liu occurred, according to Cao Yefa, an official at the Chizhou Communist Party Propaganda Department. Wu's two bodyguards were security personnel from Xie He Hospital in Anqin g As described by witnesses, both wore their hair in military-style bru sh-cuts and their black T-shirts exposed muscular arms decorated with ta ttoos. As Liu fell to the street, the two guards continued kicking him with poin ted-toe shoes, the witnesses related. Three dozen shopkeepers from the n earby vegetable market and idle motorcycle taxi drivers gathered around and shouted at the pair to stop. Wu's Toyota, they pointed out later, carried license plates identifying i t as registered in neighboring Jiangsu province. Wu, it seemed, was one of the rich outsiders Chizhou's investment-hungry leaders were eager to seduce. Moreover, when policemen from the nearby substation showed up to investigate, officials and witnesses reported, Wu and his bodyguards re fused to cooperate -- the first signs of an arrogance that participants said helped spark the violence. Wu, still in his vehicle, waved off questions impatiently, witnesses reca lled, saying: "Don't touch me. The policemen, two duty officers and an auxiliary, put the badly beaten L iu into a taxi and dispatched him to Chizhou People's Hospital, where do ctors later said he had a broken jaw, a broken nose and multiple contusi ons. According to witnesses and official accounts, the policemen ordered Wu and his three companions to follow them to their substation: about 3 30 yards down Cuibai Street, a right turn at the Donghuadong Supermarket and 54 yards down Quipu Street. Agitated by Wu's attitude and the sight of Liu's bloody injuries, the mot orcycle drivers and vegetable merchants followed on foot, joined by a gr owing number of bystanders. Members of the crowd pulled out their cell p hones to call friends and relatives, swelling their numbers further. By 3:30, witnesses recalled, several thousand people were gathered around t he station. One of those who showed up was Liu's father, who, witnesses said, began a rguing with Wu and the bodyguards. Enraged, he grabbed a motorcycle lock and, swinging it over and over, shattered Wu's windshield, the witnesse s reported. Police officers, who numbered only three, did not react. The anger was nur tured by rumors, passed along in person or in cell phone conversations t hat, in the absence of official declarations, were the only source of in formation. Many were told that Liu was a 16-year-old student on his way home from fi nal exams, and that he had died of his wounds before reaching the hospit al. Others were told the two bodyguards had stabbed a motorcycle driver who was trying to protect the injured youth. And most were told that Wu was heard telling police there was nothing to worry about because, by ha nding $35,000 to Liu's father, he could make the problem go away. The actions of Wu and his companions further enraged the crowd, witnesses said. Cao, the party propaganda official, said the four men openly defi ed the three policemen and, within earshot of the crowd, cursed them in accents that identified them as outsiders. "Maybe it's because they are rich people, rich but without education," Ca o said in a telephone interview. "They don't know how to behave, and the y look down on others." Members of the crowd, which was still growing as the confrontation contin ued, demanded that the three police officers turn Wu and his companions over to them, according to several people present at the time. But the two bodyguards retur ned to the car and took out long knives, presumably to protect themselve s, according to witnesses and official accounts. "These guys tried to kill one of our sons," people in the mob shouted, ac cording to those present. The outnumbered police officers persuaded the two toughs to give up their knives and bundled them into a police van to be transported to the cent ral jail. But in a gesture that further outraged the crowd, they were no t handcuffed. To many of those standing in the street, the two were bein g taken away for their safety, not for punishment. people shouted, according to accounts from several witnesses. A motorcycle driver who was i...