Econ 101: Bonds

I know I said that I'd be doing this only once a week, but this is too good not to share.  From Slate:

Comments

[cynematic]

Dude, this is perfect for the Schoolhouse Rock generation.

[Lawyer Mama]

It even looks like a Schoolhouse Rock clip!

[MIchael Gene Sullivan]

Man, I hate bonds!

Take municipal bonds -
A city needs something, but rather than raise taxes, they issue bonds. These bonds are for billions, so the only organizations that can afford them are huge - Corporations, trusts, governments.

The municipality is indebting itself to Capitalists to improve itself. And those bonds will be paid off with millions in interest. That's it.

It's all part of the idea that there can be no common good unless someone is making a profit.