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Series | Student Debt Slavery: Time to Level the Playing Field, Part 2

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Historically, debt and austerity have been used as control mechanisms for subduing the people. It is time for the people to unite and take back their power.

http://evergreenedigest.org/sites/default/files/Editor%20Comment%20icon.jpg Evergreene Digest Editor's Note: This is the second in a two-part article on the debt burden America’s students face. Read Part 1 here.

Ellen Brown, Truthdig

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Jan 6, 2018 | The lending business is heavily stacked against student borrowers. Bigger players can borrow for almost nothing, and if their investments don’t work out, they can put their corporate shells through bankruptcy and walk away. Not so with students. Their loan rates are high and if they cannot pay, their debts are not normally dischargeable in bankruptcy. Rather, the debts compound and can dog them for life, compromising not only their own futures but the economy itself.

“Students should not be asked to pay more on their debt than they can afford,” said Donald Trump on the presidential campaign trail in October 2016. “And the debt should not be an albatross around their necks for the rest of their lives.” But as Matt Taibbi points out in a December 15 article, a number of proposed federal changes will make it harder, not easier, for students to escape their debts, including wiping out some existing income-based repayment plans, harsher terms for graduate student loans, ending a program to cancel the debt of students defrauded by ripoff diploma mills, and strengthening “loan rehabilitation” – the recycling of defaulted loans into new, much larger loans on which the borrower usually winds up paying only interest and never touching the principal. The agents arranging these loans can get fat commissions of up to 16 percent, an example of the perverse incentives created in the lucrative student loan market. Servicers often profit more when borrowers default than when they pay smaller amounts over a longer time, so they have an incentive to encourage delinquencies, pushing students into default rather than rescheduling their loans. It has been estimated that the government spends $38 for every $1 it recovers from defaulted debt. The other $37 goes to the debt collectors.

http://evergreenedigest.org/sites/default/files/Ellen%20Brown.jpg Ellen Brown <> is an attorney, chairman of the Public Banking Institute, and author of twelve books including "Web of Debt" and "The Public Bank Solution."

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Series | Student Debt Slavery: Bankrolling Financiers on the Backs of the Young, Part 1, Ellen Brown, Truthdig 

The exponential rise in college costs occurred only after the government got into the student loan business in a big way.

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Series | Student Debt Slavery: Bankrolling Financiers on the Backs of the Young, Part 1

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Students graduating at the University of Alabama in Tuscaloosa in 2011. (Butch Dill / AP)

The exponential rise in college costs occurred only after the government got into the student loan business in a big way.

Ellen Brown, Truthdig

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Dec 26, 2017 | The advantages of slavery by debt over “chattel” slavery—ownership of humans as a property right—were set out in an infamous document called the Hazard Circular, reportedly circulated by British banking interests among their American banking counterparts during the American Civil War. It read in part:

"Slavery is likely to be abolished by the war power and chattel slavery destroyed. This, I and my European friends are glad of, for slavery is but the owning of labor and carries with it the care of the laborers, while the European plan, led by England, is that capital shall control labor by controlling wages."

http://evergreenedigest.org/sites/default/files/Ellen%20Brown.jpgEllen Brown is an attorney, chairman of the Public Banking Institute, and author of twelve books including "Web of Debt" and "The Public Bank Solution."

Full story … 

How Corporate Power Killed Democracy

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Photo: by Beverly & Pack | CC BY 2.0

Corporate Power is the Fusion of the Corporation and the State

Richard Moser, counterpunch.org / Popular Resistance 

Submitted by Evergreene Digest Contributing Editor John Stoltenberg 

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December 8th, 2017 | The rise of Corporate Power was the fall of democracy.  Over the long haul, US politics has revolved around a deep tension between democracy and an unrelenting drive for plunder, power and empire. Granted that our democracy has been seriously flawed and only rarely revolutionary, yet the democratic movements are the source of every good thing America has ever stood for.

Since the mid-1970s, when the corporations fused with the state, a new imperial order emerged that killed what remained of representative democracy. Not only would corporations exercise public authority as only government once had, but government would coordinate and serve corporate activity. Power and profits became one and the same. Corporate power has replaced democracy with oligarchy and justice with a vast militarized penal system. Instead of innovative production, they plunder people and planet.

Richard Moser writes at befreedom.co where this article first appeared.

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Section(s): 

The Consolidation of Media and Finance: Why the Media Are Lying to You

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  • Here is the chart on media ownership: note the interlocking companies who own the five big media plus Google and Facebook— and why it matters.
  • Related: The New York Time’s Assault on Press Freedom

Sue Ann Martinson, Rise Up Times

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October 30, 2017 |

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Here is the chart on media ownership: note the interlocking companies who own the five big media plus Google and Facebook— and why it matters.

Sue Ann Martinson, Editor, Rise Up Times: Media for Justice and Peace; News, information, stories, commentary, videos and perceptive views on current events, actions, and media issues and links to calendars of Twin City Peace and Justice events.

Full story …

Related:

The New York Time’s Assault on Press Freedom, Daniel Lazare, Consortium News 


https://consortiumnews.com/wp-content/uploads/2017/09/IMG_1605.jpg The New York Times building in Manhattan. (Photo credit: Robert Parry)

  • The New York Times, which once postured as the champion of a free press, now is seeking crackdowns on news that the public gets from the Internet under the guise of combatting “Russian propaganda.”
  • Related: Special Report | A Free and Open Internet: The Latest from the Frontlines, Week Ending October 28, 2017

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No Justice!  No Peace! Please share this post.

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How to Wipe Out Puerto Rico's Debt Without Hurting Bondholders

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Hurricane Irma hits Puerto Rico

Shifting the debt burden of bankrupt institutions onto the books of the central bank is not a new or radical idea. UK Prof. Richard Werner, who invented the term "quantitative easing" when he was advising the Japanese in the 1990s, says there is ample precedent for it. In 2012, he proposed a similar solution to the European banking crisis, citing three successful historical examples.

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We have a unique problem. A large dedicated audience that is averse to supporting the project. While there may be reasons, good and bad, the net effect is a constant headache for everyone.

To expect that 1% of the subscribers would respond to the funding appeals seems like a modest aspiration.

We are going to have to find a way to raise the level of participation. You apparently rely on Evergreene Digest, and we clearly rely on you.

Need to find a way to make this work.

Dave & the Crew


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Ellen Brown, Public Banking Institute / OpEdNews

10/15/2017 | During his visit to hurricane-stricken Puerto Rico, President Donald Trump shocked the bond market when he told Geraldo Rivera of Fox News that he was going to wipe out the island's bond debt. He said on October 3rd:

"You know they owe a lot of money to your friends on Wall Street. We're gonna have to wipe that out. That's gonna have to be -- you know, you can say goodbye to that. I don't know if it's Goldman Sachs but whoever it is, you can wave good-bye to that."

Ellen Brown is an attorney, founder of the Public Banking Institute, and author of twelve books including the best-selling Web of Debt.

Full story … 

Section(s): 

Special Report | A Free and Open Internet: The Latest from the Frontlines, Week Ending October 28, 2017

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The Conspiracy to Censor Left-wing Points of View Continues to Intensify

Part 1: Google intensifies censorship of left-wing websites

Google’s actions against left and progressive sites are making clear the real targets of Internet censorship: news outlets and political organizations opposing war, social inequality and the domination of society by the financial oligarchy.

Part 2: Part 2: The conspiracy to censor the Internet

The same arguments now being employed to crack down on social media could just as well have been used to suppress books and mass circulation newspapers that emerged with the development of the printing press.

Part 3: What We Do and Don’t Know About Facebook’s New Political Ad Transparency Initiative

The short answer: It leaves the company some wiggle room.

Compiled by David Culver, Ed., Evergreene Digest 

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Part 1: Google intensifies censorship of left-wing websites

Google’s actions against left and progressive sites are making clear the real targets of Internet censorship: news outlets and political organizations opposing war, social inequality and the domination of society by the financial oligarchy.

Andre Damon, World Socialist Web Site 

Submitted by Evergreene Digest Contributing Editor John Stoltenberg 

http://www.globalresearch.ca/wp-content/uploads/2011/10/126808.jpg 19 September 2017 | Google has intensified its censorship of left-wing, progressive and anti-war websites, cutting the search traffic of 13 leading news outlets by 55 percent since April.

On August 2, the World Socialist Web Site reported that changes to Google’s search algorithm had led the search traffic of these sites to drop by 45 percent, according to figures by the search analysis service SEMRush.

Andre Damon is a World Socialist Web Site reporter.

Full story … 



Part 2: The conspiracy to censor the Internet

  • The Constitution does not give the government or powerful corporations the right to proclaim what is “fake” and what is not, what is a “conspiracy theory” and what is “authoritative.”
  • The same arguments now being employed to crack down on social media could just as well have been used to suppress books and mass circulation newspapers that emerged with the development of the printing press.

Andre Damon and Joseph Kishore, World Socialist Web Site

Submitted by Evergreene Digest Contributing Editor John Stoltenberg 

18 October 2017 | The political representatives of the American ruling class are engaged in a conspiracy to suppress free speech. Under the guise of combating “trolls” and “fake news” supposedly controlled by Russia, the most basic constitutional rights enumerated in the First Amendment are under direct attack.

The leading political force in this campaign is the Democratic Party, working in collaboration with sections of the Republican Party, the mass media and the military-intelligence establishment.

Andre Damon is a World Socialist Web Site reporter.

Joseph Kishore is an American activist and writer. He is the National Secretary of the Socialist Equality Party and a writer for the World Socialist Web Site.

Full story … 



http://evergreenedigest.org/sites/default/files/FreePress%20Presents%20Save%20the%20Internet.jpgPart 3: What We Do and Don’t Know About Facebook’s New Political Ad Transparency Initiative

The short answer: It leaves the company some wiggle room.
 

Julia Angwin, ProPublica

Sept. 22, 2017 | On Thursday, Facebook Chief Executive Mark Zuckerberg announced several steps to make political ads on the world’s largest social network more transparent. The changes follow Facebook’s acknowledgment earlier this month that $100,000 worth of political ads were placed during the 2016 election cycle by “inauthentic accounts” linked to Russia.

The changes also follow ProPublica’s launch of a crowdsourcing effort earlier this month to collect political advertising from Facebook. Our goal was to ensure that political ads on Facebook, which until now have largely avoided scrutiny, receive the same level of fact-checking by journalists, advocacy groups and political opponents as do print, broadcast and radio political ads. We hope to have some results to share soon.

https://assets.propublica.org/images/bio/_oneOne75w/julia-angwin-1000x1000.jpg Julia Angwin is a senior reporter at ProPublica. From 2000 to 2013, she was a reporter at The Wall Street Journal, where she led a privacy investigative team that was a finalist for a Pulitzer Prize.

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To the Point: Bid for Amazon HQ Should Reflect Minnesota's Interests

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  • Even if Amazon does come to Minnesota, along with the jobs and economic boost there would also be serious negative impacts from the project.
  • Related: Foxconn Comes to Wisconsin: A Bad Deal for Workers and the Environment

John Marty, Apple Pie Alliance

http://www.apple-pie.org/images/apa3.gif October 13, 2017 | As a consistent critic of corporate subsidies, I had a mixed reaction to Amazon’s request for bids to attract their proposed second headquarters.

The promise of up to 50,000 high paying jobs is incredible; something no state would ignore. But nobody knows whether those jobs will actually materialize. Businesses often promise the moon to gain handouts from taxpayers as is evident in Wisconsin’s massive subsidy to Foxconn.

John Marty is a Minnesota state senator. 

Full story … 

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Related:

Foxconn Comes to Wisconsin: A Bad Deal for Workers and the Environment, Willis and Jacob Druker, Socialist Alternative

  • http://evergreenedigest.org/sites/default/files/Foxconn%20Comes%20to%20WI.jpgIn exchange for $3 billion from the state government, electronics giant Foxconn will build a massive factory in Wisconsin.
  • What’s good for big business is good for the rest of us. Right?

# # # 

https://ilsr.org/wp-content/uploads/2016/11/Amazon-Report-Cover_border-320x412.png Jeff Bezos Screws Over Workers At Amazon. Now He Wants To Do The Same At The Washington Post. Paul Blumenthal, HuffPost 

  • Can Silicon Valley’s anti-labor attitude survive actual contact with a labor union?
  • Related: Report: How Amazon's Tightening Grip on the Economy Is Stifling Competition, Eroding Jobs, and Threatening Communities


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