A Nation Hellbent on a Citizenry sold into Permanent Peonage?
Appearing at the "top of the scroll" yesterday on Counterpunch, Dr. Michael Hudson, a Distinguished Research Professor at University of Missouri, Kansas City (UMKC), he is the author of many books, including Super Imperialism: The Economic Strategy of American Empire (new ed., Pluto Press, 2002) and appears to be on a Summer research holiday in New York City! 
His latest is large, very informative and quite entertaining.
[excerpt] "The question is, how can an economy survive with millions of homeowners defaulting and wealth ownership polarizing between creditors and debtors. This is what plunged the world into depression in the 1930s, and long before that, reduced the Roman Empire to debt bondage and serfdom. Is it all happening again today? Or can things simply return to normal with today’s debts be paid off by borrowing yet more money and running yet further into debt, in what is known as the 'magic of compound interest'? ..."
Read more at: Why the Bail Out of Freddie Mac and Fannie Mae is Bad Economic Policy
His latest is large, very informative and quite entertaining.
[excerpt] "The question is, how can an economy survive with millions of homeowners defaulting and wealth ownership polarizing between creditors and debtors. This is what plunged the world into depression in the 1930s, and long before that, reduced the Roman Empire to debt bondage and serfdom. Is it all happening again today? Or can things simply return to normal with today’s debts be paid off by borrowing yet more money and running yet further into debt, in what is known as the 'magic of compound interest'? ..."
Read more at: Why the Bail Out of Freddie Mac and Fannie Mae is Bad Economic Policy
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