The 99% Owe “A Debt of Gratitude” to the 1%: Harry Binswanger


merjet

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There is new technology being invented. However the people who are doing the inventing and the innovating are not the ones making the mammoth corporate salaries by and large. My guess is that the innovation that is keeping our screwed up system alive and moving is being done by people in the so-call 99 percent.

Inventing new technology is part, but not all, of entrepreneurship. Part is marketing, which may be innovative. Consider the history of barb wire here. Mr. Ellwood did not invent the barb wire that made him rich, but he foresaw the usefulness of Mr. Glidden's invention and bought a 50% interest in it. Also, John Warne Gates made a huge amount of money as an innovative salesman (see the final paragraph).

The bankers and financial artists who put together derivatives are just professional gamblers in a form of gambling that is illegal. They bring nothing new to the world.

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There is new technology being invented. However the people who are doing the inventing and the innovating are not the ones making the mammoth corporate salaries by and large. My guess is that the innovation that is keeping our screwed up system alive and moving is being done by people in the so-call 99 percent.

Inventing new technology is part, but not all, of entrepreneurship. Part is marketing, which may be innovative. Consider the history of barb wire here. Mr. Ellwood did not invent the barb wire that made him rich, but he foresaw the usefulness of Mr. Glidden's invention and bought a 50% interest in it. Also, John Warne Gates made a huge amount of money as an innovative salesman (see the final paragraph).

The bankers and financial artists who put together derivatives are just professional gamblers in a form of gambling that is illegal. They bring nothing new to the world.

A question Bob...

Isn't it accurate to argue that since the Carter Community Reinvestment Act, which forced banks to approve mortgages based on a standard that was imposed by the Federal State, and, ran counter to any sound lending policies, led to the bundling of sub prime mortgages as the only path to comply with the imposed regulation and still make a profit?

A...

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There is new technology being invented. However the people who are doing the inventing and the innovating are not the ones making the mammoth corporate salaries by and large. My guess is that the innovation that is keeping our screwed up system alive and moving is being done by people in the so-call 99 percent.

Inventing new technology is part, but not all, of entrepreneurship. Part is marketing, which may be innovative. Consider the history of barb wire here. Mr. Ellwood did not invent the barb wire that made him rich, but he foresaw the usefulness of Mr. Glidden's invention and bought a 50% interest in it. Also, John Warne Gates made a huge amount of money as an innovative salesman (see the final paragraph).

The bankers and financial artists who put together derivatives are just professional gamblers in a form of gambling that is illegal. They bring nothing new to the world.

A question Bob...

Isn't it accurate to argue that since the Carter Community Reinvestment Act, which forced banks to approve mortgages based on a standard that was imposed by the Federal State, and, ran counter to any sound lending policies, led to the bundling of sub prime mortgages as the only path to comply with the imposed regulation and still make a profit?

A...

The government and the corporate cronies are in a loving embrace and most of us are getting screwed by this fuck festival.

the corporate world for the most part has been corrupt and rotten since the end of the Korean War. Remember what Ike said about the military-industrial complex. Well, it is true.

Ba'al Chatzaf

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Bob, I undestand the cynacism...

However, where do we go from that cynacism..,?

A...

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There is new technology being invented. However the people who are doing the inventing and the innovating are not the ones making the mammoth corporate salaries by and large. My guess is that the innovation that is keeping our screwed up system alive and moving is being done by people in the so-call 99 percent.

Inventing new technology is part, but not all, of entrepreneurship. Part is marketing, which may be innovative. Consider the history of barb wire here. Mr. Ellwood did not invent the barb wire that made him rich, but he foresaw the usefulness of Mr. Glidden's invention and bought a 50% interest in it. Also, John Warne Gates made a huge amount of money as an innovative salesman (see the final paragraph).

The bankers and financial artists who put together derivatives are just professional gamblers in a form of gambling that is illegal. They bring nothing new to the world.

A question Bob...

Isn't it accurate to argue that since the Carter Community Reinvestment Act, which forced banks to approve mortgages based on a standard that was imposed by the Federal State, and, ran counter to any sound lending policies, led to the bundling of sub prime mortgages as the only path to comply with the imposed regulation and still make a profit?

A...

The government and the corporate cronies are in a loving embrace and most of us are getting screwed by this fuck festival.

the corporate world for the most part has been corrupt and rotten since the end of the Korean War. Remember what Ike said about the military-industrial complex. Well, it is true.

Ba'al Chatzaf

You should read The Whole Truth if you want an interesting story about that.

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Bob, I undestand the cynacism...

However, where do we go from that cynacism..,?

A...

Do the best we can to change things or failing that make a clean getaway to Galt's Gulch.

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Bob, I undestand the cynacism...

However, where do we go from that cynacism..,?

A...

Do the best we can to change things or failing that make a clean getaway to Galt's Gulch.

Correct.

However, before there is an escape hatch = a Galt's Gulch, we have our own Galt's Gulch within us.

Refuse to produce those taxable, productive dollars that supports the state apparatus that suppressives us.

A...

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Bob, I undestand the cynacism...

However, where do we go from that cynacism..,?

A...

Do the best we can to change things or failing that make a clean getaway to Galt's Gulch.

Correct.

However, before there is an escape hatch = a Galt's Gulch, we have our own Galt's Gulch within us.

Refuse to produce those taxable, productive dollars that supports the state apparatus that suppressives us.

A...

Then what shall we produce? Producing stuff is what makes the difference between a human and a thing that just occupies space and consumes oxygen.

Ba'al Chatzaf

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Bob, I undestand the cynacism...

However, where do we go from that cynacism..,?

A...

Do the best we can to change things or failing that make a clean getaway to Galt's Gulch.

Correct.

However, before there is an escape hatch = a Galt's Gulch, we have our own Galt's Gulch within us.

Refuse to produce those taxable, productive dollars that supports the state apparatus that suppressives us.

A...

Then what shall we produce? Producing stuff is what makes the difference between a human and a thing that just occupies space and consumes oxygen.

Ba'al Chatzaf

If you produce shit you're doing pretty well.

--Brant

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There is new technology being invented. However the people who are doing the inventing and the innovating are not the ones making the mammoth corporate salaries by and large. My guess is that the innovation that is keeping our screwed up system alive and moving is being done by people in the so-call 99 percent.

Inventing new technology is part, but not all, of entrepreneurship. Part is marketing, which may be innovative. Consider the history of barb wire here. Mr. Ellwood did not invent the barb wire that made him rich, but he foresaw the usefulness of Mr. Glidden's invention and bought a 50% interest in it. Also, John Warne Gates made a huge amount of money as an innovative salesman (see the final paragraph).

The bankers and financial artists who put together derivatives are just professional gamblers in a form of gambling that is illegal. They bring nothing new to the world.

A question Bob...

Isn't it accurate to argue that since the Carter Community Reinvestment Act, which forced banks to approve mortgages based on a standard that was imposed by the Federal State, and, ran counter to any sound lending policies, led to the bundling of sub prime mortgages as the only path to comply with the imposed regulation and still make a profit?

A...

The government and the corporate cronies are in a loving embrace and most of us are getting screwed by this fuck festival.

the corporate world for the most part has been corrupt and rotten since the end of the Korean War. Remember what Ike said about the military-industrial complex. Well, it is true.

Ba'al Chatzaf

I wonder who we have to blame: the state or the ubercorporations? This one leftist anarchist I converse with over on the Hannity boards claimed that we're not a tyranny but a corporate republic.

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I wonder who we have to blame: the state or the ubercorporations? This one leftist anarchist I converse with over on the Hannity boards claimed that we're not a tyranny but a corporate republic.

It takes two to tango. The bribers and the bribees are equally to blame.

Ba'al Chatzaf

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Brant,

I'm curious about something you said on the "...Bad Art" thread, but since you said you won't be back to that thread, I'll ask here.

You wrote:

I just discovered this [the "...Bad Art"] thread.

Considering how often you post, how have you missed that thread all this time?

Where do you look when you look at OL to see what threads are active? (I look at the "New Content" screen.)

Ellen

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I wonder who we have to blame: the state or the ubercorporations? This one leftist anarchist I converse with over on the Hannity boards claimed that we're not a tyranny but a corporate republic.

It takes two to tango. The bribers and the bribees are equally to blame.

Ba'al Chatzaf

Liberals say we're a democracy. Republicans say we're a republic. The truth is apparently neither. We're a corporatocracy.

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Liberals say we're a democracy. Republicans say we're a republic. The truth is apparently neither. We're a corporatocracy.

Run for the Cronies , by the Cronies. And hang the rest.

Ba'al Chatzaf

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Brant,

I'm curious about something you said on the "...Bad Art" thread, but since you said you won't be back to that thread, I'll ask here.

You wrote:

I just discovered this [the "...Bad Art"] thread.

Considering how often you post, how have you missed that thread all this time?

Where do you look when you look at OL to see what threads are active? (I look at the "New Content" screen.)

Ellen

I think I saw the thread when new and decided to ignore it for I had seen Jonathan pretty effectively deal with this kind of thing before and I only have so much time. Besides, my primitive esthetics are I like it or I don't and it's interesting or it isn't

--Brant

I don't read every thread, but I do look at both New and My Content even though "New" gives me trouble I have to work around: I don't get any results any more unless I sign off first; this has caused me to find some threads a little late; some posters, I think, somehow, do it all via eMail--I don't know how and don't care how

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That is weird. I am the worst computer person ever, but I leave OL New Content on my Favourites bar and everytime I come on, the new content that I haven't read is starred.

I never miss a post of yours, Brant!

You missed the ones in invisible ink. The ones that belittled and slandered Canada and Canadians and all Antarticans.

--Brant

she summoned the demons; now they come unbidden

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Liberals say we're a democracy. Republicans say we're a republic. The truth is apparently neither. We're a corporatocracy.

Levin calls us a post-Constitutional state...

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Liberals say we're a democracy. Republicans say we're a republic. The truth is apparently neither. We're a corporatocracy.

Levin calls us a post-Constitutional state...

Perhaps in fact, but not in law.

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