Debt slavery and the modern state

"Since the Renaissance, however, bankers have shifted their political support to democracies. This did not reflect egalitarian or liberal political convictions as such, but rather a desire for better security for their loans. As James Steuart explained in 1767, royal borrowings remained private affairs rather than truly public debts. For a sovereign’s debts to become binding upon the entire nation, elected representatives had to enact the taxes to pay their interest charges."

Debt Slavery – Why It Destroyed Rome, Why It Will Destroy Us Unless It’s Stopped, by Michael Hudson, Counter-Punch]

$9,000 a semester to go to Eastern Michigan University? Yikes!

At least that's what one student in this article in the Eastern Echo claimed to be borrowing in student loans per semester. Yikes! That's just over $70,000 for a four-year degree. I hope whatever he's majoring in renumerates enough to repay all that in a timely fashion or he/she will be drowning in debt forever. Even with a bachelor's degree in engineering, nursing, business administration or some other field where the grads get hired quick and that tend to pay well servicing that much debt is gonna be a tough row to hoe.

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Unions push Virg Bernero campaign for Michigan governor - Detroit Free Press
No surprise there. That bought n' paid for tool of the public employee union will give them any fuckin' thing they want no matter what it costs. Sheesh.

Gluttony is replacing sex as the new "forbidden" in American culture - Daily Beast

The Carl's Jr. restaurant chain is adding a foot-long deluxe cheeseburger to their menu.

Does democracy always ends in bankruptcy? - Toronto Globe & Mail (Neil Reynolds)

No, sometimes it ends in fascism as well.

A reality TV show that's actually real - The Deadliest Catch - Big Hollywood

"The stars of the show smoke, drink, scream and swear. They have tattoos. They talk about women in politically incorrect ways. They dangerously light fireworks off the Time Bandit. They harass 'greenhorns.' Surviving on those boats is something men would like to do if they were able, but they know they can’t (the NFL has the same appeal). This is a reality show that is actually real."

Blue collar work looks pretty fun and exiting from your living room couch but ah...it is kinda tough too. At least the writer admits that he couldn't do that stuff.

Libertarian blogger shows some small concern for the victims of rapacious debt collectors - Megan McArdle

Sleaseball law firms sue people for debt without knowing whether it is actually owed or not.

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Debt collection operatives cruise social networks looking for intel on debtors - NPR (audio link)

And often times they find quite a bit. Beware what and where you post stuff, eh?

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Predictable libertarian defense of the poverty industry in the WSJ - Wall Street Journal (C. Mangu-Ward)
Defending the pawnbrokers, rent-to-own companies, check cashing, payday loans and the rest of the parasites that feed off the working poor. Bottom line (according Ms. Mangu-Ward)?: Hey, these companies are better than mobbed up loan sharks.

So-called "Black Bloc" groups blamed for anti-G20 violence in Toronto - Christian Science Monitor
"The Toronto Star reports that the tactic, common in international protests, involves protesters dressing in black and moving as groups to perform violent acts, then removing the black clothing to blend in with the larger protest crowd to avoid apprehension by the police. On Saturday, dozens of such protesters huddled together in a park to change into their street clothes, leaving the black garments behind and disappearing into the crowds."
Long wars are antithetical to democracy - Washington Post (Andrew Bacevich)
"The Long War is not America's war. It belongs exclusively to 'the troops,' lashed to a treadmill that finds soldiers and Marines either serving in a combat zone or preparing to deploy."

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60 Year-old bottle of Glenfiddich whiskey goes for $37,000 + @ auction - Bloomberg

LA crowds riot in "celebration" of Lakers NBA championship win - LA Times

Bailouts for the banksters debtors prison and foreclosures for the serfs - Pro Libertate

From the post:
"As a result, it's increasingly common for people who owe small amounts to find themselves being confronted by police -- in the streets, at home or work, while driving, or even while recovering from surgery -- and hauled away in handcuffs. Warrants have been issued over outstanding debts as small as $85, which is "less than half the cost of housing an inmate overnight."

After a brief but robustly unpleasant interlude behind bars, debtors are brought before a judge and compelled to sign documents permitting the collection firms to garnish their wages or extract money from their bank accounts. Refusal can lead to a "indefinite incarceration," a sentence recently imposed, without trial, on a debtor from Kenney, Illinois. "Bail" consists of paying the amount demanded by the collection firm, which is the amount of the purchased debt plus whatever enhancements the firm can devise."

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Buyer's remorse over borrowing $50K for an Ivy League M.A. degree - Craigslist (Anonymous)
Hoity-toity wine snobs duped out of big bucks by counterfeits - Slate (Mark Steinburger)
Proof that the FBI is surveilling social networks - BBC
"Armed police were sent to a U.K. school because "...scanning software picked up a suspicious combination of words."
Is Los Angeles still America's "city of the future"? - New Geography (Joel Kontkin)
Joe Lieberman defends his "emergency powers over Internet" legislation - CNet
"It's vital that the president can 'say to an electric company or to say to Verizon, in the national interest, "There's an attack about to come, and I hereby order you to put a patch on this, or put your network down on this part, or stop accepting any incoming from country A,'" said Lieberman, an independent from Connecticut who caucuses with Democrats."
Sign of the Times: Deranged female shooter kills 2, kidnaps 1, wounds 1 - NY Post
Didn't kill herself before being captured though.

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Going "Dead Beat" For Fun & Profit - Dallas Observer
"Cunningham knew he had a good enough case to file a lawsuit against the debt collection agency, and for his first lawsuit, he decided to enlist the help of a lawyer. Two months later, he had a check in his hand for $1,000." The guy featured in the story is making money by suing the bill collectors that are trying to collect from him. Nice work if you can get it.
Leviathan stirs again - The Economist
We're from the government and we're here to help you.
Experimental Soldier Exo-Skeleton's Batteries Improved- Popular Science
"Lockheed's Human Universal Load Carrier (HULC) is a mechanized frame that allows soldiers to march or even run easily with loads of 200 pounds, as well as squat or kneel without trouble." Lockheed propaganda video here.
Airlines Want to Stop Taking Cash; Plastic Only- LA Times
The Safety Net - Living on Nothing but Food Stamps -New York Times.com
The tactical shotgun in urban operations - Infantry Magazine