A Party of the 99% and the Power of Debt
in Debt as Power

This chapter offers twelve solutions, most reflecting those proposed by others, that would become a political platform of a Party of the 99". It suggests the steps necessary to implement these proposals and a political strategy based on the idea that debt is a technology of power that can be utilized by debtors, as well as creditors. Because of the economic insecurity wrought by the 2008 financial crisis and the defunding of pension plans by governments and municipalities bankrupted by debt, retirement is out of reach for many. For debt to be maintained as a technology of power exercised by the 1" requires a financial, legal, and ideological structure that vastly privileges the creditor over the debtor. The purpose of the debt action is to hold capital accountable and to restore balance to economic relationships.


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