What if the definition of “freedom” were to include: “freedom from psychological manipulation and abusive labor extractive efforts by rent-seeking billionaires”?
One day I was telling my union committee about Asia in the ’90s. Those naive Texas boys said;
“No way! You’re lying!”
I picked up the speakerphone and called my long time business partner. He’d spent time there with me. He said;
“I’m driving with my wife now so I can’t go into details. But I can assure you that whatever Sumner told you is far more humble than the real story.”
I bet those guys still don’t believe it.
“Are You Experienced is the debut album by the rock band the Jimi Hendrix Experience. Released in 1967, the LP was an immediate critical and commercial success, and it is widely regarded as one of the greatest debuts in the history of rock music. It featured vocalist Jimi Hendrix’s distortion and feedback-laden psychedelic electric guitar playing and introduced him as a new international star.
By mid-1966, Hendrix was struggling to earn a living playing the R&B circuit as a backing guitarist. After being referred to Chas Chandler, who was leaving the Animals and interested in managing and producing artists, Hendrix was signed to a management and production contract with Chandler and ex-Animals manager Michael Jeffery. Chandler brought Hendrix to London and began recruiting members for a band designed to showcase the guitarist’s talents, the Jimi Hendrix Experience. In late October, after having been rejected by Decca Records, the Experience signed with Track, a new label formed by the Who’s managers Kit Lambert and Chris Stamp.”
Timeline of the Far Future:
Continue reading “Timeline of the Far Future” »
The Atlantic wrote an article describing this recently found (and digitally restored) footage: Mysterious Found Footage Offers a Rare Glimpse of 1940s Chicago
The result is this short film, a marvelous and thorough overview of 1940s Chicago, when the Wrigley and Tribune Towers were still considered modern landmarks.
In contrast to typical city promotional films, this video offers glimpses of downtown spots like Buckingham Fountain along with the city’s manufacturing plants and meat-packing facilities. The footage also comes with all sorts of statistics and facts. For example, Michigan Boulevard (now Michigan Avenue) carried more than 55,000 automobiles on an average day.
Based on the credits, it appears the video was produced by the Chicago Board of Education, with an assist from United Airlines (for the aerial shots). The release date of the film has also been pinned to between 1945 and 1946. John Howatt, credited as the Business Manager of the Board in the video, was elected on January 8, 1945, and Johnnie Neblett, the narrator, died on September 15, 1946.
American economist Hyman Minsky died in 1996, but his theories offer one of the most compelling explanations of the 2008 financial crisis. His key idea is simple enough to be a t-shirt slogan: “Stability is destabilising”. But TUC senior economist Duncan Weldon argues it’s a radical challenge to mainstream economic theory. While the mainstream view has been that markets tend towards equilibrium and the role of banks and finance can largely be ignored, Minsky argued that in the good times the seeds of the next crisis are sown as the financial sector engages in riskier and riskier lending in pursuit of profit. In the aftermath of the financial crisis, this might seem obvious – so why did Minsky die an outsider? What do his ideas say about the response to the 2008 crisis and current policies like Help to Buy? And has mainstream economics done enough to respond to its own failure to predict the crisis and the challenge posed by Minsky’s ideas?
His book is Stabilizing An Unstable Economy.
A nice talk. One to contemplate. Don’t fool yourself and stop learning. Never give up.
Warren Buffet’s long time business partner.
When the United States of America, which was meant to be a Utopia for all, was less than a century old, Noah Rosewater and a few men like him demonstrated the folly of the Founding Fathers in one respect: those sadly recent ancestors had not made it the law of the Utopia that the wealth of each citizen should be limited. This oversight was engendered by a weak-kneed sympathy for those who loved expensive things, and by the feeling that the continent was so vast and valuable, and the population so thin and enterprising, that no thief, no matter how fast he stole, could more than mildly inconvenience anyone.
Noah and a few like him perceived that the continent was in fact finite, and that venal office-holders, legislators in particular, could be persuaded to toss up great hunks of it for grabs, and to toss them in such a way as to have them land where Noah and his kind were standing.
Thus did a handful of rapacious citizens come to control all that was worth controlling in America. Thus was the savage and stupid and entirely inappropriate and unnecessary and humorless American class system created. Honest, industrious, peaceful citizens were classed as bloodsuckers, if they asked to be paid a living wage. And they saw that praise was reserved henceforth for those who devised means of getting paid enormously for committing crimes against which no laws had been passed. Thus the American dream turned belly up, turned green, bobbed to
the scummy surface of cupidity unlimited, filled with gas, went _bang_ in the noonday sun.
_E pluribus unum_ is surely an ironic motto to inscribe on the currency of this Utopia gone bust, for every grotesquely rich American represents property, privileges, and pleasures that have been denied the many. An even more instructive motto, in the light of history made by the Noah Rosewaters, might be: _Grab much too much, or you’ll get nothing at all_