Chris Hedges interviews Michael Hudson about "The Great Ponzi Scheme of the Global Economy." Among the lessons: where the moronic idea that "all income is earned" came from, how the statement "Goldman Sachs workers are the most productive in the world" is actually tautological in addition to being absurd, how Chicago's parking meters privatization scheme shows up as an increase in gross domestic product as it raises the cost of living. Also, we learn that when we refer to banksters as parasites, the metaphor is even more apt than it sounds.
In a related note, Richard Eskow, writing at the Our Future blog, reminds us that, as Sen. Sanders has said, "Wall Street's Business Model Really is Fraud." But even financial sector workers testify to the moral and ethical rot of that business model -- more than one in three admit that they've personally witnessed wrongdoing, and more than one in three say that the compensation structures in place at their place of employment "incentivize" wrongdoing. If roughly one in three folks will admit that they see it when their livelihood depends on them not seeing it, I guarantee you more of their compatriots see it, too.
Texas man escapes charges for assaulting a police officer -- after video footage from a camera he installed on his property reveals that the police who arrested him falsified reports. The bad news? It sure was a painful process for Mr. Faulkenberry to acquit himself -- though he told the police that very night what would happen -- and the officers who filed the false reports have not (yet) been charged with perjury. And I hate to say this, but I wonder if Mr. Faulkenberry would have even made it to jail if he were black.
Hillary Clinton aide suggests there won't be another Democratic debate if Bernie Sanders doesn't change his "tone." Sole evidence of this massive tone change in Mr. Sanders? "This is a man who said he'd never run a negative ad ever. He's now running them. They're planning to run more." I don't remember if "never ever" was Mr. Sanders's exact promise, but it doesn't matter -- if you're bemoaning the very existence of negative campaigning, you're either suggesting you don't know what political campaigning is like or you're whining, and whining doesn't often lead to winning. I suppose it's possible Mrs. Clinton is having this very conversation with her aide in the woodshed as we speak.
Finally, because you don't have enough Thomas Frank in your life, TomDispatch (not the same Tom!) presents another excerpt from Mr. Frank's forthcoming book, Listen, Liberal. Here he takes us to a place "where Democratic rule is virtually unopposed, a place where Republican obstruction and sabotage can’t taint the experiment" -- Boston, Massachusetts, "the spiritual homeland of the professional class." Spoiler alert: the income gap between rich and poor in Massachusetts is wider here than in at least 40 other states, the sectors foisting the most debt on the middle class (education and health care, naturally) thrive in all their privatized glory here, and "innovation" is less a buzzword than a hammer in the hands of folks who see only nails when they look at working families.