"Don't Owe. Won't Pay." Everything You've Been Told About Debt Is Wrong
"Not only does #debt
have the potential to be a rallying point of near-universal appeal, it
also happens to be a unique political pressure point. That’s because the results of mass debt resistance would be catastrophic for the financial system.
The Lehman Brothers collapse in 2008 demonstrated that the system is so
highly leveraged and so tightly interconnected that even a small
disruption can cascade into a massive systemic crisis. Moreover, “won’t
pay” is a form of protest easily accessible to the atomized digital
citizen who has been sundered from most forms of political association;
arguably, it is the only form of digital action that has much real-world
impact. No street protests are necessary, no confrontations with riot
police, to stop payment on a credit card or student loan. The financial
system is vulnerable to a few million mouse clicks." #OurRevolution
