Debt is the object of social production in bourgeoisie socialism.
To qualify I mean that to say that we don’t live in capitalism anymore, we live in what many call bourgeoise socialism wherein all the wealth and financial institutions are controlled by a ruling class that calls itself capitalist or bourgeoise
but is in actuality leveraging huge planning mechanisms more comprehensive than that of the USSR to achieve social production
but keeping the wealth concentrated at the top.
They pursue debt as the social end of economies, they plan towards building more and more debt.
I call this Casino socialism, wherein all the mechanics of the world around us have become, in one form or another, a casino, to reproduce debt.
It’s no longer about the money, it’s about making more debt.
As Michael Hudson argues, debt is what the ruling class wants to prop up dollar hegemony.
Making debt addictive is the way they see themselves surviving
Cancellation of all Debts is the only way forward
Once debt is no longer the object of social reproduction
Once the mechanics of socialism are freed from the political form of casino socialism
We can right the ship and make the social question the object of production