Reposted with the kind permission of Charles Hugh Smith The essence of debt serfdom is debt rises to compensate for stagnant wages. I often speak of debt serfdom; here it is, captured in a single chart. The basic dynamics are all here, if you read between the lines: 1. Financialization of the U.S. and global economies…
Tag Archive for Serfdom
Charles Hugh Smith
When Debt is More Important Than People, The System Is Evil
by Charles Hugh Smith • • 1 Comment
The Empire of Debt has only one end-point: a death spiral. It is evil and must be dismantled.
Ethics has no place in the Empire of Debt. The financialized Status Quo is careful to limit the language used to describe the situation in Greece …
Bears Chat, Best of the Forums
Community-Based Alternatives to Corporate America
by Bears Chat at The Wall Street Examiner • • 0 Comments
As I have often observed, the majority of America’s household income flows to a handful of corporate cartels protected by the Central State. Most of the mortgage payments flow to the “too big to fail” banks. Most of the telecom payments flow to the…
