* Now we see the violence inherent in the system: Unreturned library books can mean jail time.
* It’s intuitive but wrong to picture the public debt as private debt we’re all on the hook for. In reality, public debt isn’t really properly thought of as borrowing at all, according to Frank N. Newman, former deputy secretary of the U.S. Treasury under President Clinton. Since the U.S. doesn’t need to borrow back the dollars it originally spent into existence in order to spend them again, the purpose of issuing Treasuries is really just for “providing an opportunity for investors to move funds from risky banks to safe and liquid treasuries,” he writes. Investors aren’t doing the U.S. a favor by buying treasury securities; the U.S. is doing investors a favor by selling them. Otherwise, without the option “to place their funds in the safest most liquid form of instrument there is for U.S. dollars,” would-be bondholders “are stuck keeping some of their funds in banks, with bank risk.”
* Twitter account of the night: @ClickbaitSCOTUS.
* An administrative law judge in Florida this week upheld new rules by the State Department of Education that require significantly more of state college faculty members — particularly in the areas of student success — for them to earn continuing contracts (the equivalent of tenure).
* The kids are all right — they’re abandoning Facebook.
* The 38 Most Haunting Abandoned Places On Earth. Some new ones in the mix here.
* And good news everyone! Your dystopian surveillance nightmare is legal again.