Gerry Canavan

the smartest kid on earth

Weekend Links

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* 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.”

We frack the places we’ve already abandoned.

Sherlock Holmes, First Published in 1893, Is Officially in the Public Domain in the US.

* Twitter account of the night: @ClickbaitSCOTUS.

* The problem with white allies.

* …added up, this is a picture of massive corruption and cowardice at the top levels of our law enforcement agencies.

An Open Letter to the Makers of The Wolf of Wall Street, and the Wolf Himself. How the “Wolf of Wall Street” Is Still Screwing His Real-Life Victims.

Institutional Prestige and the Academic Caste System.

* “If we’re hyperanxious about college access, costs, and returns, it is because we’re hyperanxious about the fissures in our social contract that college is supposed to patch up.”

What happens to workers when jobs becomes gigs? The Fear Economy.

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).

* Slate covers the US’s insane hostility towards presymptomatic genetic testing.

* Connecticut just hands ESPN sacks of money every year.

Degenerate, Inc.: The Paranoid and Obsessive Life of a Mid-Level Bookie.

Reality Pawns: The New Money TV.

Why I voted for an academic boycott of Israel.

* Wisconsin finds another use for cheese.

* 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.

shipwreck

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