If Goldman Sachs is a vampire squid, as Matt Taibbi so aptly named it, then hedge funds are like piranhas or sharks, eager to strip the financial carcass to the bone.
Unless we act now, the current $1 trillion student debt bubble is going to look small in 18 years—and the only ones able to go to college will be the children of the 1%.
Kristin Rawls, Killing the Buddha. December 19, 2011.
From an evangelical home to over $100,000 in student loans and healthcare debt, one writer faces the ways in which even progressive Christianity comes up short.
Michael Hudson, Michael Hudson's blog. December 19, 2011.
Wages and living standards are to be scaled back and political power shifted from elected government to technocrats governing on behalf of big banks and financial institutions.
Michael Hudson, Michael Hudson's blog. December 6, 2011.
Recent debt protests from Iceland to Greece and Spain suggest that creditors are shifting their support away from democracies and crushing national self-determination.
I am aware of the total lack of consumer protection associated with student debt. But I took a long, hard look at the numbers, and I realized that I am already a slave.
The whole future shape of Europe must be resolved in a week or so. It’s a high-stakes game of poker that the Germans are determined to win--at the expense of misery for many.
What does it mean to stop cooperating with the banks? Some activists, organizers, and technologists think the answer might be mass refusal to pay debts.
Wages are stagnant or falling. Foreclosures are tearing through communities, and falling home prices are destroying family equity. It's like a reverse New Deal.
To prevent another disaster like the one caused by the toxic debts on the books of Wall Street banks, we need to defuse the student debt bomb before it blows. But how?
Katherine Sciacchitano, Dollars and Sense. September 29, 2011.
The crisis caused the deficit (not the other way around), and cutbacks have rendered the ill-fitting stimulus obsolete. Now we need a long-term, comprehensive jobs plan.
Baby boomers did not contribute to the economic decline of America. Actually, they helped create consumerist prosperity with teenager allowances and middle age purchases.
David Graeber, Comment Is Free. September 26, 2011.
Is it really surprising that young protesters on Wall Street and around the world would like to have a word with the financial magnates who stole their future?
