World’s Public Banks Gathered At First-Ever Summit

By Andrea Germanos, Commondreams. -

"There is no excuse for the continued funding of billions of dollars in coal, gas, or oil projects. This must stop now," Sophie Richmond, a coordinator with Big Shift Global, said in a [...]

Paradise For Human Victims Of Corporate Persons

By Vijay Prashad, Tricontinental: Institute for Social Research. -

Any day now, Zambia will be the first African country to slip into a private debt default. It can only pay interest on the $3 billion in dollar-denominated bonds if it totally ignores the needs [...]

A Debt Reckoning Is Unavoidable

By Aaron Karp, Waging Nonviolence. -

The late anthropologist David Graeber, who wrote about the 5,000-year history of debt, spoke about a strange paradox of being indebted. “The first effect of debt is to create isolation, shame, [...]

Debt Collectors Have Made A Fortune This Year

By Paul Kiel and Jeff Ernsthausen, ProPublica. -

Earlier this year, the pandemic swept across the country, killing 100,000 Americans by the spring, shuttering businesses and schools, and forcing people into their homes. It was a great time to [...]

Could Your Medical Bills Make You Sick?

By Lisa L. Gill, Consumer Reports. -

Devin Barrington-Ward was doubled over with stomach pain. His chest hurt, too. Though his family urged him to call an ambulance and he was terrified that his condition was serious, [...]

The Case For Debt Abolition

By Astra Taylor, ROAR Magazine. -

In 2008, around the same time Lehman Brothers collapsed and the mortgage market began to melt down, I got a call telling me my student loans were in default. I remember trying to grasp the logic [...]

Make Corporate Landlords Pay The Bills During The Pandemic

By Sofia Lopez and Sara Mycklebust, Inequality.org. -

The Covid-19 crisis has both exposed and exacerbated racial and wealth inequality in the United States. As unemployment skyrockets and tens of millions of Americans struggle with a sudden loss of [...]

The US Is Borrowing Its Way To Fascism

By Richard D. Wolff, Information Clearinghouse. -

Viewing the GOP convention seemed a little like binge-watching the last several years’ parade of none-too-subtle signs of incipient fascism. We saw extreme nationalism, scapegoating immigrants [...]

Mexico: Revolt Demands Access To Water Allotted To US

By It's Going Down, Earth First! -

Since Wednesday July 29, self-organized protests by campesinos and community members have kicked off in the municipality of Rosales in the Mexican state of Chihuahua. These coordinated actions [...]

Fed Guarantees Unproductive Debt And Perilous Speculation

By Ralph Nader, Nader.org. -

The Federal Reserve Board – our unaccountable Central Bank – needs more citizen and Congressional supervision. Fees from financial institutions fund its operations, not Congressional [...]

Without Federal Aid To State And Local Governments, Millions Will Lose Their Jobs

By Josh Bivens and David Cooper, Economic Policy Institute. -

Because a weakening economy undercuts state and local tax revenues, and because states operate under balanced budget constraints, the coming months will see intense downward pressure on state and [...]

The University Community As A Microcosm Of The National Economy

By Harry Targ, Diary of a Heartland Radical. -

In sum, MMT suggests that the printing of money can be calibrated to the fulfillment of short and long term needs.  Money could and should be provided for health care for all, support for [...]

Debt Strike Needed As Debt Collectors Keep Coming After Millions Of People

By Paul Kiel and Jeff Ernsthausen, ProPublica.   -

Over the past couple decades, Capital One, Lugo’s pursuer, helped lead the way in transforming the nation’s local courts into collection machines. As recently as the 1990s, these courts conformed [...]

Capitalism’s ‘Dirty Little Secret’

By Gabrielle Pickard-Whitehead, Occupy.com. -

At a time when wealth is concentrated in the hands of a tiny elite, maintaining comfortable living standards for the majority requires reliance on abundant borrowing. Too much lending, as we [...]

The Generosity Of Agriculture

By Kerry Hoffschneider, Indianz. -

The generosity of agriculture and the potential for farmers, ranchers and all people to act in more selfless fashions can be found amongst the chaos of the times if one looks for it closely [...]