THE FILTHY RICH

"Somewhere in the world, 100-foot yachts are derided as "dinghies," ... and "true wealth" starts at a hefty $10 million. That's "Richistan" The term, which journalist Robert Frank defines as a "parallel country of the rich," is also the title of his new book about its inhabitants, whom he calls Richistanis. The book got its start in 2003, when Frank, who reports for The Wall Street Journal, picked up a fresh, full-time beat: the new rich. "I immersed myself in their world, hanging around yacht marinas, slipping into charity balls, loitering in Ferrari dealerships and scoping out the Sotheby's and Christie's auctions," he writes. ... From 1995 to 2003, the number of millionaires in America doubled. During the same period, the number of households worth $5 million, $10 million and $25 million, respectively, all doubled. In 2005 alone, America minted 227,000 new millionaires." (USA Today, 17 June) As you are reading this in the Socialist Courier and not the Wall Street Journal it is unlikely you belong to Richitan, you are more likely to be a subject of Poveritan! RD