Atlas Shrugged Movie Box Office Results – 3rd Place on a Per Screen Basis

I’m not an expert in the movie business, but I think it’s a good sign to see this movie anywhere at all in the box office results for its opening weekend:

atlas shrugged box office results

Note the low number of theaters, only 299.

Wikipedia writes:

The film opened on 300 screens on April 15, 2011, and made $1,676,917 in its opening weekend, finishing in 14th place overall, but when compared on a per-screen basis, it finished 3rd (among films in wide release), with $5590 per screen.

Personally I can say that I really enjoyed watching the movie. No doubt, the acting could have been a lot better, meaning more credible, emotional, and gripping. The cinematography seemed a bit too clean and stylized for my taste.

However, the philosophy comes across well and that’s what matters most to me. These ideas have been dead and gone for so long, at least in the mainstream, and it’s exciting to me to see them take a peek into the public sphere again. I see this as an indicator that philosophical change is on its way slowly but surely, but of course I may be utterly biased. :)

In any case, I’m sure looking forward to the next parts!

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Atlas Shrugged – The Movie

Worshipers of the Grand Lady of philosophy are eagerly awaiting Part 1 which opens on April 15th …

Here is an interview with the producer on Freedomain Radio:

In a world full of crises, turmoil, disasters, protests, tyranny, wars, lobbyism, middle class destruction, favoritism, bailouts, taxes, and indebtedness, a world where all these factors are leading up to their inevitable culmination, the timing for the movie to this prescient, epic, brilliant, gripping, and deep story could not have been better.

Enjoy it! =)

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Bank of America Shrugged

Bank of America, struggling with all the stupid and horrendous acquisitions they made over the past year, is now asking the government to help them again.

Andrew Jefferey draws a nice parallel between what is going on today and what Ayn Rand wrote over 50 years ago in Atlas Shrugged:

The phrase “buyer beware” no longer applies in the American banking system.

Last September, as the financial markets skidded out of control, Merrill Lynch CEO John Thain sought to keep his firm from going the way of rival Lehman Brothers by selling out to Bank of America (BAC). At the time, B of A chief Ken Lewis was touted as a shrewd opportunist who seized upon a desperate rival.

Now, it appears, Lewis is the one groping for a helping hand.

According to the Wall Street Journal, the Treasury Department is preparing to offer up billions of dollars to help Bank of America complete the transaction. As in Citigroup’s (C) recent bailout, where the federal government assumed the risk for a pool of distressed assets, taxpayers are about to buy Merrill’s book of truly toxic debt.

Bank of America approached the Treasury Department in December, claiming it might have trouble closing the sale after learning Merrill’s fourth-quarter losses would be larger than expected. Fearing the deal’s collapse could inflict irreparable damage on the already wounded financial system, the Treasury is continuing to spend TARP money it doesn’t have. With the first $350 billion already allocated, Treasury Secretary Hank Paulson is dipping into funds earmarked for a second round of capital allocation that hasn’t yet been authorized.

The fact that Bank of America needs yet more money — on top of the $25 billion it received just last October — is evidence that, once again, regulators and bank executives have underestimated the scope of the debt crisis gripping the country’s financial system. Deleveraging is underway – and it’s gaining momentum. Nevertheless, lawmakers and regulators alike insist on using taxpayer money to try and slow down the accelerating juggernaut of bad debt.

To quote a recent op-ed in the Journal, which likened the government response to the current financial crisis to the circumstances described in Ayn Rand’s Atlas Shrugged,

“Politicians invariably respond to crises — that in most cases they themselves created — by spawning new government programs, laws and regulations. These, in turn, generate more havoc and poverty, which inspires the politicians to create more programs . . . and the downward spiral repeats itself until the productive sectors of the economy collapse under the collective weight of taxes and other burdens imposed in the name of fairness, equality and do-goodism.”

The similarities are so striking, it almost seems like regulators are using Atlas Shrugged as a playbook for their policy response to the crisis. They must not have waded through all 1,000 pages to see how the story ended.

To this I would like to add: Not only are they following the Atlas Shrugged playbook. They are also borrowing from The Fountainhead‘s Ellsworth Toohey when it comes to convincing the public of their nonsense:

” Reason can be fought with reason. How are you going to fight with the unreasonable? The trouble with you, my dear, and with most people is that you don’t have sufficient respect for the senseless…”

It is safe to say that Toohey would be delighted about the unconditional respect that today’s politicians have for the senseless.

In the meantime, people with sense may consider The Economics of Corporate Bailouts to get an understanding of what all this intervention will precipitate.

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