Boom and Busted Cliff

http://workandwealth.com/

end of summary from Lindy Davies

♦and so comes the bailout… EMn

it’s not a radical’s job to try to find a way to keep the apparatus of government or the apparatus of global finance capital running efficiently. Our only job is to demand that people be freed of the coercive and exploitative demands of both.)…if the government repudiates its debts then they may no longer be willing to buy up government bonds in the future. Now, this might seem like a bad thing if you think it’s important to make sure that the US government is always able to issue more bonds in order to raise more money. But how desirable or even acceptable that is is going to look will depend (in part) on how desirable or even acceptable you think it is for the US government to have lots of ready cash…the overwhelmingly dominant function of government, in everything it does, is overwhelming dominance; it is characteristically an institution of violence against the governed, not a service to them. Charles Johnson 

 Government debt (financed state capitalism) for centrally planned pet projects of shiny-rimmed “national security” etc. is not anything I signed up to pay for. But like a “bagman and gunman” the parasite’s expenses became “our” debt. Is the gentrification of the world a business-plan? The debt is illegitimate. The state is not my agent. Yet my money is demanded to pay the interest on bonds and beyond for a parasitic minority’s ponzi scheme called state capitalism. Let it crash and burn off the fiscal cliff, and suffer the justice of the “free” market rather than perpetuate the criminal journey of riding the saw-blade of booms and busts.

the government incurred obligations without knowing for sure that it would have the money to pay its bills. Why is it allowed to do that? Oh, that’s right. It’s the government. Sheldon Richman