Pluralistic: 17 Oct 2022 A giant grocery merger will send "inflation" through the roof


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Unspeakable

Big-Tech-as-cop vs. abolishing Big Tech

An abstract background; in the foreground are a collection of speech balloons of various sizes and shapes, each filled with the “Matrix Waterfall” graphic; in the center at the bottom of the frame are the “Three Wise Monkeys,” their faces replaced by the menacing, staring red eye of HAL9000 from 2001: A Space Odyssey.
Cryteria, CC BY 3.0 (modified)/Japanexperterna.se, CC BY 2.0, modified; EnEdC, CC BY-SA 3.0, modified

Since late 2000, EU’s Digital Markets Act (DMA) has made steady progress, and now, despite US Big Tech companies’ illegal lobbying, it has become a law.

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Pluralistic: 16 Oct 2022 RIP, Roger Wood, genius assemblage sculptor


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Pluralistic: 15 Oct 2022 How lawyers became sadists


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Pluralistic: 14 Oct 2022 Medieval Times invents a modern union-busting tactic; Billionaire dilletantes vs good Democrats


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Pluralistic: 13 Oct 2022 US health insurers get more and more federal funding, deliver less and less care


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Pluralistic: 11 Oct 2022 Trusting (machine learning) trust; The housing market turns (more) toxic


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Pluralistic: 10 Oct 2022 Antitrust is – and always has been – about fairness


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Pluralistic: 09 Oct 2022 $100 billion later, autonomous vehicles are still a car-wreck


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Bankruptcy protects fake people, brutalizes real ones

Debts that can’t be paid, won’t be paid.

A robotic hand wielding a gavel; the gavel is smashing the face of a terrified person.
Victor Bezrukov, CC BY 2.0 (modified) and Vitalik Radko/Deposit Photos, free license (modified)

“Debts that can’t be paid, won’t be paid.” There, in eight simple words, we have Michael Hudson’s key insight into the role debt and debt cancellation plays in the rise and fall of human civilizations.

Debts are inescapable.

In order to provide a society with its necessities — food, shelter, energy — producers need the inputs (seed, fertilizer, materials, tools) before they have the means to buy them.

In order to produce, producers must borrow.

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