If you have "no place to go," come here!

Mitt Romney advocates strategic default


"That's tragic," Romney said. "In some cases, if the debt is not in something you can service, it's like you have to move on and start over away from those debts. It's helpful if you get an institution that's willing to work with you, but if you don't you have no other option."

Romney is, of course, completely correct. If we buy the neo-liberal "ownership society" formulation, then the house you live in is an investment like any other. And corporations and especially real estate investors walk away from bad investments all the time. So why not the rest of us?

Graeber's right. Debt is a promise. We make and try to keep a lot of promises in our lives. Why are arrangements with userers the most important ones?

Read the whole article for the quotes. Despite the horror of our fraudulent and manipulative "election" system, it still retains the virtue that even ectoplasmic weasels like Mitt Romney are forced go out and interact with the smelly peasants, if only for the photo op. Unless our politicians are completely sociopathic -- granted, a major assumption -- I can't help but think that the hustings nudge the system toward some small measure of humanity.

UPDATE The horrible and hilarious part is that the Ds can't support Romney's policy, because Obama's in bed with the banks, and can't oppose it, if they want to carry OH, FL, or MI. And so we will get Obama papering over the growing cracks with flimsy rhetoric, amid media and career "progressive" hosannas to this "thoughtfulness" and "moderation." I wonder if he'll manage to meet Kamala's price? Like the Occupy sign says: "The system isn't broken. It's fixed."

No votes yet