Lucero: Llorar

Rancheras were made fun of by us East Los kids, and I suppose the obviousness and sometimes corniness of these popular Mexican songs brings that on. But, like American pop songs, every once in a while, good stuff shines through.

Here's the pretty and popular Lucero, singing a tale of love lost, first in the studio version, then live.

David FeBland

Artist's Statement

Some years ago, I began to produce paintings that expressed my best and worst impulses set out in the context of public spaces. It was time to give my inner devil an airing. Making virtue of vice, I imbued anonymous figures with swaggering power, elevated faceless nobodies to subject status and filled the streets with stalking female mastodons, all in the service of getting even.

Well, adversity loves company and, living in New York, I found myself in the perfect place to observe the tribulations of others while forgetting about my own. So many nuisances at a stone’s throw.

Those paintings were dark, crowded and monochromatic. As I became more and more absorbed in the project, I found an unexpected conflict beginning to emerge. As I fell more deeply in love with the act of painting, my work became more resonant. My brushwork, palette, depiction of light and air……the paintings were becoming more, well beautiful. Today I see the disconnect between some of my subject matter and my method of depiction as a source of strength…and subversion. It’s a willful act of seducing the viewer into staying with me in the picture.

My work explores the ever-modulating space between aspiration and reality. Its an uncomfortable space for some, that sense of not quite being where or what you think you are – a mental state filled with frisson not unlike the combustible edge of colliding urban neighborhoods, its corporeal equivalent. After depicting just such city spaces for many years, I grew to realize that the concept of an Edge - or more precisely the gap between them - was as much a state of mind as a physical reality and therefore eminently transportable. And so you see before you paintings embracing a variety of settings reflecting my everyday life, my travels grand and mundane, realized and imaginary.

Many of these paintings may look like directly observed events, but they’re not. I make liberal use of the infrastructure of the world around me and, using a variety of sources including memory, produce paintings that are entirely studio inventions. My paintings reflect the insights and doubts many of us share but often can’t find the language to express. I’m luckier than most because over time I’ve developed the voice to articulate these ideas. In fact, I’d say that my paintings are all about the small idea. If my work is successful, if it has significance, then each painting represents a building block which, when seen over the life of a career, serves a greater purpose, a larger idea that is expressed in the fullness of time.

David FeBland

July 2005

There's a sucker born every minute: The Beanie Baby Bubble

A new book by Zac Bissonnette goes into the Beanie Baby Bubble uses that manic time to delve into the why of collective mania. Today, with bubble mania alive and well around every corner, we now have skinny jeaned pencil necks creating fart eraser apps market valued at $50 billion. Does this make sense any more than losing one's mind over dumb stuffed animals?

Think about another bubble burst phenomenon:

...the power of the revolutionary new technology, assisted by artful manipulation of public perception by interested parties, induced a collective hallucination that made investors ignore such considerations. They persisted in ignoring them for several years, until ... the inevitable disaster struck. [emphasis mine]

Sound familiar? It should. But this isn't the dot com fiasco, nor the runup to EM08. It isn't this century, nor even the last. Citation's here.

A running point I have with my friend, TB, is given all of the psychopathic activity in finance, for instance hedge fund managers that get an edge via inside info, that casinos and card rooms by comparison are beacons of fairness and honesty. Someone who sits at a poker table in Vegas can be very sure that the game is a fair one, because it's not only highly regulated, but policed and prosecuted. Not the owners of this world. Evidently they can stomp around at will, free to create mayhem without fear.

Fear. It's an important aspect of EM08. The trillions hoovered up in the EM08 tsunami have created a vast divide in America, one that I find it hard to believe we'll ever recover from. I'm no math wiz, but the numbers on every front are terrifying. On the street, it's created a culture of fear among the working class, specifically about the present and down the line for their kids and country. Back on top, the evil empire dines on toro for a snack, and there's an utter lack of fear.

I've said before that I believe EM08 is three phases: The run-up and crash of '08, and the second phase, maximum extraction, which we are now in. That means power is doing everything it can to grow bigger and badder, and the evidence is overflowing.

Digression: Check out the Dan Dimicco interview from yesterday. I find his straightforward take not only refreshing, but pragmatic and on point. This country is at a crossroads, and the way we turn in the next few years are crucial. Dimicco reminds me of my mother's generation; no horseshitting around, let's get to work and produce. Let's unleash positive energy in the form of creativity and innovation bolstered by hard work. In a word, let's get our entrepreneur on.

Instead, the bureaucrooks went all in with a bunch of psychopathic criminals, the true super-predators, and we have what we have. It's sad.

And what of EM08's third phase? I used to say it'll be "Judgement Day" or some other dramatic sounding turn, but of late I've begun thinking that maybe phase two and three are a synthesis. In other words, maybe we're already in the crash. It's the feel good crash, buoyed by the collective, proven American ability to believe that somehow, someway, we're, *I*, am going to make it. As I've noted before, some historians believe the second most influential Nazi was Goebbels, which is a way of taking us back to the top: "assisted by artful manipulation of public perception by interested parties." To not know the tools of the devil is to be subject to them. Ask Eddie Bernays, behind the curtain.

Which reminds me of the saying, the most enslaved is the slave that believes he is not enslaved. Or is unaware of or willfully ignores it.

Plush Life
Why did people lose their minds over Beanie Babies?

By Mark Joseph Stern

Mark Joseph Stern is a writer for Slate. He covers science, the law, and LGBTQ issues

 

A 5-year-old boy holds an armful of Beanie Babies while shopping with his mother at the Zany Brainy Toy Store on Sept. 2, 1999, in Brentwood, Missouri.

Photo By Bill Greenblatt/Getty Images

In July of 1999, I traveled with my family to Tenby, Wales. The town is said to be picturesque, but I have no memory of its scenery—except for a small toy store we passed on our drive in. As soon as we settled into our hotel, my sister and I begged our father to trek to the shop and search for the Britannia Beanie Baby, sold exclusively in the United Kingdom. The Britannia bear wasn’t just a toy, we explained; it was an investment, projected to be worth thousands of dollars within a decade. Our father capitulated and bought us each a Britannia bear, which we dutifully kept in mint condition with the tag intact, reveling in its rarity while dreaming of the day it would be a hugely valuable collector’s item.

One month later, the company that developed Beanie Babies abruptly announced that it would stop producing the toys at the end of the year, both anticipating and precipitating the burst of the Beanie Babies bubble. Sellers panicked, buyers lost interest, and by the start of the new millennium, Beanie Babies had swung from an economic and cultural phenomenon to a tired punch line. Today, the Britannia Beanie Baby sells for $10 on eBay. My own Britannia lies buried in a box in the back of my closet along with hundreds of other Beanie Babies, where it has sat, untouched, for 15 years.

From this distance, it’s easy to laugh at Beanie Baby fever, to mock it as just another pointless fad in a chintzy, hollow decade. But in the latter part of the 1990s, Beanie Babies were so much more than a fad: They were a mania, an obsession that ensnared not just gullible children but also otherwise responsible adults who lost all sense of perspective over these plush playthings. People sold—and bought—some rare Beanie Babies for $5,000 each and expected others to skyrocket in value within a decade. (Collectors were careful to keep each toy’s tag attached and protected by a plastic case; a Beanie Baby’s worth was said to fall by 50 percent once the tag was removed.) Looking back, it’s clear that the Beanie Baby craze was an economic bubble, fueled by frenzied speculation and blatantly baseless optimism. Bubbles are quite common, but bubbles over toys are not. Why did America lose its mind over stuffed animals?

Zac Bissonnette’s new book The Great Beanie Baby Bubble does an excellent job explaining the basic economic factors behind Beanie Babies’ success. Ty Warner, the mastermind behind the toys, had a remarkable talent for manipulating supply and demand. (He’s also a borderline recluse and a profoundly troubled man; among other things, Warner repeatedly dated the same women as his father—at the same time—and became a plastic surgery addict.) First, Warner understuffed his toys so that they were flexible and “looked real,” in his words. Second, he sold only small batches of each new Beanie Baby to independent businesses, refusing to supply large quantities to big-box retailers and fixing the price of each toy at $5. Third, Warner “retired” every animal after a fairly short amount of time, introducing a new toy in its stead. This strategy created a near-hysteria each time a Beanie Baby was released, sending fans rushing out to local stores to buy the new toy before supplies disappeared forever.

All of this explains, in simple market terms, how Warner manipulated supply and demand to build a frenzy for his product. But Bissonnette’s book is disappointingly short on psychological explanations for why Americans were eager to shell out at least hundreds of millions of dollars for rather conventional toys. (The total spent on Beanie Babies is unclear because ever-secretive Warner refused to release his company’s earnings.) In one sardonic passage, Bissonnette cites Sigmund Freud’s belief that “the root of collecting” lies in “sex and toilet training,” as “the collector … directs his surplus libido into an inanimate object: a love of things.” Bissonnette also hypothesizes that collecting Beanie Babies “reflect[s] a regression to the soothing and comfort provided by objects during childhood,” and that the acquisition of a scarce, valued item activates our endorphins.

While Freudian theory hasn’t held up well to scientific analysis, some sort of mental disturbance might account for the more extreme cases of Beanie Baby addiction—like the retired soap opera star who lost his children’s six-figure college fund investing in the toys, or the man who committed murder over what a detective described as a “Beanie Baby deal gone bad.” But does it really explain what sent millions of Americans—soccer moms and CEOs, blue-collar workers and yuppies, Ph.D.s and high-school dropouts—utterly bonkers over a brand of plush stuffed animals?

 

Frances Mountain, left, sorts out Beanie Babies with her ex-husband, Harold Mountain, in a Las Vegas courtroom in 1999. The couple was unable to split the collection by themselves, so they spread it on the courtroom floor and divided it up under the judge’s supervision. Maple the Bear was the first to go.

Photo by Reuters

A paper by David Tuckett and Richard Taffler, two economics professors with training in psychoanalytical theory, suggests Bissonnette’s conjecture isn’t that far off. Tuckett and Taffler specifically examine the dot-com bubble, but their theory applies to all modern bubbles. According to the economists, humans occasionally view exciting new creations as “phantastic objects,” which overwhelm us and skew our sense of reason. Our brains begin to tell us that by obtaining these “magical” objects, we will achieve some profound level of satisfaction—something akin to transcendence. The thrill of the chase then muffles our ability to rationally evaluate the actual worth of the object, and others’ willingness to go along with our fantasy reinforces our suspension of logic.

All this theorizing may sound like so much argle-bargle. But the meat of Tuckett and Taffler’s thesis builds on a famous theory of bubbles by renowned economist Charles Kindleberger. According to Kindleberger, every bubble has four basic stages: a grand new development that shocks the market; “euphoria” over that development; a sudden “boom” in sales and speculation; and, eventually, panic when the bubble bursts. Tuckett and Taffler approve of Kindleberger’s model, adding a coda—“revulsion”—to describe the collective hangover society experiences when it realizes it has invested in junk.

In the Kindleberger model (with the Tuckett/Taffler twist), Beanie Babies are a kind of magical object whose plush perfection captured the imagination of a small subset of early adopters. Soon Beanie Baby collectors sprang up to spread the toy’s transcendent joy, and then everybody needed each new Beanie Baby to complete his or her collection. But Warner limited the number of each animal produced, leading both buyers and sellers scrambling to purchase new releases and, in the process, wildly overvaluing their worth. Eventually, the fantasy faded—for most people, after all, Beanie Babies do not bring about nirvana—and the bubble burst. Buyers lost interest, sellers struggled to offload their surpluses, and the whole country felt rather gross about fixating on stuffed animals.

“Revulsion” describes the collective hangover society experiences when it realizes it has invested in junk.

Andrew Odlyzko, a mathematician and bubble expert, proposes a simpler theory explaining speculative panics in his study on the British Railway Mania of the 1840s. Odlyzko credits Railway Mania in part to a “collective hallucination,” an extreme form of groupthink wherein a significant chunk of society feverishly buys into a shared dream with no regard for the skeptics and naysayers. (Some scholars think Jesus’ resurrection might have been an acute instance of collective hallucination.)

The existence of groupthink has been confirmed in a rich assortment of studies, and Odlyzko’s theory expands the idea to economic bubbles. Under his analysis, the initial coterie of Beanie Baby collectors comprised an in-group that shared the great secret of Beanie Babies’ worth. As more people discovered the toy, they yearned to learn this secret and partake in the impending financial success of the Beanie Babies market. Soon, millions of Americans were gripped by the conviction that they had discovered an easy path to personal wealth. And thanks to their collective hallucination of Beanie Babies’ worth, none of these collectors ever realized that the only thing driving the Beanie Babies market was their own conviction that the toys were valuable.

These theories may explain the mass delusions that enabled a large chunk of the country to believe that a $5 Beanie Baby could eventually be worth thousands. What they never quite get at, however, is that initial spark of fascination: how the ineffable appeal of Beanie Babies turned them, and not one of a thousand other 1990s trends, into a collective mania. That allure can probably never be quantified.

But those who once loved Beanie Babies may still remember it. I certainly do, because I remember when I got my very first Beanie Baby. I was 7 and had just woken up from adenoidectomy surgery to see a family friend through the anesthesia haze. She leaned over my bed and laid Bruno the Bull Terrier Dog by my head. I grabbed Bruno, closed my eyes as the room started spinning, and threw up. Bruno stayed with me through my convalescence, and long after I lost interest in Beanie Babies, he remained perched on my nightstand. There was something sweet and comforting and innocent about him, something so tender and gentle and warm. Bruno was the kind of toy Ty Warner was trying to make for children when he accidentally created a speculative mania for adults.

In 2013, Warner pleaded guilty to tax evasion after admitting to hiding millions of dollars in a Swiss bank account. He was sentenced to probation but may face years of prison time if the Justice Department’s appeal is successful. Bruno the Bull Terrier Dog now sits at the back of my closet with hundreds of other floppy, forlorn toys. Today he sells for 36 cents, with the tag still attached.

Message for America: Nucor & its Ole Skool Ways

Good interview with Dan Dimicco. He speaks forthrightly and plainly about America, which is refreshing.