Revolution? Nothing to lose but our debts!

The idea of the “99 percent” managed to do something that no one has done in the United States since the Great Depression: revive the concept of social class as a political issue. What made this possible was a subtle change in the very nature of class power in this country, which, I have come to realize, has everything to do with debt. David Graeber

As a member of the team that came up with the slogan “We Are the 99 Percent,” I can attest that we weren’t thinking of inequality or even simply class but specifically of class power. It’s now clear that the 1 percent are the creditors: those who are able to turn their wealth into political influence and their political influence back into wealth again. The overriding imperative of government policy is to do whatever it takes, using all available tools—fiscal, monetary, political, even military—to keep stock prices from falling. Continue reading “Debt slaves..lets Smash Capitalism!..”