High-End Media Strikes Back at 'Luxury Bashing'

Ed Bazinet blew about $60M on tchotchkes at two trade shows

(NEWSER) - A wealthy Manhattan businessman was hospitalized in a mental institution after spending $20 million on ice-cream scoops, barbecue tools, scented sachets, and other gewgaws at the New York International Gift Fair, reports the New York Post . Ed Bazinet, who struck it rich selling ceramic figurines, went from booth to booth ordering thousands of tchotchkes. More»

Achievement divide soars since 1960s, studies say

(NEWSER) - There's a vast gap in educational success between lower-income and wealthy children, studies say—a divide that has received relatively little attention until now. In recent decades, the achievement gap between rich and poor children has grown as the gap between black and white students has shrunk, the New York Times reports. "We have moved from a society in the 1950s and 1960s, in which race was more consequential than family income, to one today in which family income appears more determinative of educational success than race," says a Stanford sociologist. More»

And how you can at least attempt to get a reservation

(NEWSER) - If you fancy yourself a gastronome, you have surely heard of these celebrated restaurants where masters engage in the high art of cooking. But getting into them is another thing entirely. Eater.com has compiled a list of 11 restaurants around the world where it is virtually impossible to snag a table. The US entries: More»

Definitely consider pre-med

(NEWSER) - Want your kid to make it into the 1%? Then the New York Times ' Economix blog knows which majors you might want to steer him or her toward. In an analysis of census data, it found that the majors with the best chance of making it into that coveted top 1% are:

1. Pre-med: Of those who major in pre-med programs, 11.8% make it into the 1%. However, just 0.9% of all 1-percenters majored in pre-med.
2. Economics: Of those who major in econ, 8.2% reach the 1%. And a relatively large share—5.4%—of 1-percenters are econ majors.

A trip to outer space will run you only $200K

(NEWSER) - 'Tis the season for giving, and what better way to show your appreciation for someone then to bestow them with an absurdly lavish gift, presuming you are nestled high up into the 1%. Here are 11 of the most ludicrously expensive gift ideas, courtesy of Time :

• Pacifier, $17,000: Your baby will reign as the queen of daycare with this BabyWit pacifier, which is bejeweled with 14-karat gold and studded with diamonds.
• Space flight, $200,000: Send a friend on an extraterrestrial vacation via Virgin Galactic. The maiden flight is set for 2013.
• Diamond dog collar, $3.2 million: Adorn your pooch with this crocodile leather collar featuring 52 karats of 1,600 hand-set diamonds, from I Love Dogs.
• Personal submarine, $2 million: Celebrate the holidays 1,000 feet underwater in this miniature sub from Hammacher

• Schlemmer.