The current system of having money created by private banks as interest-bearing debt is unnecessary and dangerous. The industrialists and economists of the classical period of capitalism, the producers of things for profit thought that the proper role of banking and credit was to be a service for the productive sector of the economy. Every society should understand the danger when that relationship is reversed, as it is today. Understanding how money works, in Modern Monetary Terms (MMT), makes visible why it's entirely unnecessary to figure out how to "collect" money for social programs, and why it's absolutely necessary to surtax the wealthy. It also implies that any minimum income program requires what should be a maximum income policy as well. Taxes do not fund government spending. MMT is not well understood at all, and most people, including capitalist economists, fall back to the taxes-for-spending paradigm that is completely wrong. read more
SCOTUS has done this before. Millions of Ohio voters have tried to vote on Election Day over the past four presidential elections, only to find they were no longer registered to vote. GOP secretaries of state have become experts at the game of selective purging. In 2004, then-Secretary of State J. Kenneth Blackwell, stripped some 309,000 voters from the rolls and nearly all came from heavily Democratic cities, Cleveland, Cincinnati and Toledo. In Cleveland 25% of all voters were removed from the voting rolls. Nine "Justices" have just heard oral arguments in the Ohio voter registration case. If their decision goes with Secretary of State Jon Husted, it will mean Republicans throughout the country can scrub from the voter rolls millions of citizens merely because they might vote Democrat. This is a country where Attorney-General Sessions fought for state's rights to prevent racial integration but is now overriding the decision by some thirty states to legalize marijuana. read more
The Sixth Extinction began at the end of WWII. The planet is warming, glaciers are melting, the ocean is rising, species are dwindling, the threat of nuclear annihilation is real because we know that there have been hundreds of instances of false alarms of an imminent attack in the USA and probably more never reported in Russia. While the military failings are catastrophic events, background radiation from this nuclear industry and exposure to thousands of unnatural products from the chemical industry may do humanity in. Noam Chomsky talks about our hopes and fears, congratulates "Democracy Now" for their remarkable success and reminds people of the social progress which has been achieved during the last century, particularly for women and reminds them alone there is little you can do to make the world a better place, but together the common good can prevail. read more
The idea of annulling debts nowadays is so unthinkable that economists and theologians doubt whether the Jubilee Year could have been a common practice. Instead of causing economic crises, these debt jubilees preserved stability in Near Eastern societies. Economic polarization, bondage and collapse occurred when they stopped being proclaimed. Royal debt jubilees freed society from debt bondage, without liberating slaves. Debt jubilees also returned the land or crop rights that debtors owed to creditors. This enabled families to resume their self-support on the land and pay taxes, serve in the military, and provide free labor on public works. Commercial "silver" debts among traders and other entrepreneurs were not subject to these debt jubilees. Rulers recognized that productive business loans provide resources for the borrower to pay back with interest, unlike consumer debt. This was the contrast that medieval teachers later would draw between interest and usury. read more
Don't forget to wear a wetsuit, its cold out there.