#locally grown produce

[livelocalorganic]

Locally Grown: Taking The Farm-To-Table Movement to The Next Level

Introduction: Many individuals are becoming more conscious of the environmental impact of their choices, and this includes the food they consume. As a result, the farm-to-table movement has gained significant popularity in recent years. This movement emphasizes sourcing locally grown produce and supporting local farmers, promoting sustainable and organic farming practices. However, the…

[bourbontrend]

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[justalittlesolarpunk]

It’s solar and wind and tidal and geothermal and hydropower.

It’s plant-based diets and regenerative livestock farming and insect protein and lab-grown meat.

It’s electric cars and reliable public transit and decreasing how far and how often we travel.

It’s growing your own vegetables and community gardens and vertical farms and supporting local producers.

It’s rewilding the countryside and greening cities.

It’s getting people active and improving disabled access.

It’s making your own clothes and buying or swapping sustainable stuff with your neighbours.

It’s the right to repair and reducing consumption in the first place.

It’s greater land rights for the commons and indigenous peoples and creating protected areas.

It’s radical, drastic change and community consensus.

It’s labour rights and less work.

It’s science and arts.

It’s theoretical academic thought and concrete practical action.

It’s signing petitions and campaigning and protesting and civil disobedience.

It’s sailboats and zeppelins.

It’s the speculative and the possible.

It’s raising living standards and curbing consumerism.

It’s global and local.

It’s me and you.

Climate solutions look different for everyone, and we all have something to offer.

[hillhomed]

i would stock up on locally grown produce with you any day

[alyssadzaczek]

2018 - St. Cloud Times (Gannett)

[thoughtportal]

This is a developing news story and may be updated as more information is obtained. If you value such information, please support this Substack.

On Dec. 1, a woman immolated herself with a Palestinian flag outside the Israeli consulate in Atlanta.

Now, according to the Atlanta Fire Rescue Department, the woman — referred to in their report as “Jane Doe” — is alive and “in stable condition” at Grady Memorial Hospital, where she has been since the immolation.

After repeated requests for her name, the department stated to this reporter in an email that it “does not disclose the identities of victims”. Repeated inquiries to Grady, which is a public hospital, went unanswered. The hospital houses the Walter L. Ingram Burn Center.

“Jane Doe” is 27.

When asked if they had made any comment to tell the public that she was still alive this entire time, the official at Atlanta Fire Rescue Department said they “shared the last updated with local media via email on 12/21/23. The release stated: ‘The victim remains hospitalized in critical condition. The security guard, who attempted to assist the burn victim, has been released from the hospital.’” Several internet searches on that quote produce no results. This would also indicate that "Jane Doe" went from critical to stable condition without public notice. 

Aaron Bushnell immolated himself at the Israeli embassy in Washington, D.C. on Sunday, explaining “I will no longer be complicit in genocide” and shouting “Free Palestine!” repeatedly as he burned alive. So, his case — unlike many other self-immolations including Gregory Levey, Raymond Moules, Timothy T. Brown, Malachi Ritscher and others — has received some attention. Thus, “Jane Doe” being ignored fits with the usual pattern. Bushnell is the exception — probably because he livestreamed it. See “Ignoring Immolators Lulls the Society to Sleep.”

As Bushnell was burning himself alive, an officer pointed a gun at him, barking orders as if he constituted a threat. A security guard, Michael Harris, sustained injuries working to rescue “Jane Doe” — but there were similarities, where she was actually viewed as a potential threat.

At one point, the police report for “Jane Doe” refers to it as being a case of “arson”.

Much of the media coverage and general discussion of her self-immolation in December focused on if she had done damage. The Atlanta Police Chief said: “We believe this building remains safe, and we do not see any threat here.” The Israeli government released a statement: “It is tragic to see the hate and incitement toward Israel expressed in such a horrific way.”

Police records indicate that they obtained a search warrant and entered an apartment they believed to be associated with “Jane Doe” — initially using a drone:

The drone was able to relay information as to the layout and the belongings inside. After it was deemed "safe" entry was made with bomb technicians. While clearing the apartment no improvised explosive devices were located.

The police report also noted:

During the search a Quran was found in the bedroom along with a [sic] Arabic dictionary and a Hebrew dictionary. The bedroom bookshelf contained books related to fiction and fantasy. A "Drug use for grown ups" book was on the bookshelf as well. Two journals were seized from the bedroom. A thumbdrive was seized from the bedroom as well. A laptop computer was seized from the kitchen counter. A copy of the search warrant was left in the living room of the apartment. The front door [of] the apartment was secured before law enforcement left the premises.

When pressed for more information in compliance with an Open Records Request under Georgia law, Atlanta Fire Rescue Department claimed: “There is an ongoing and active investigation for the incident in question, which is why the only releasable information has been shared via the incident report. Investigative documentation is not available for release until the investigation is closed.”

[wizardnaturalist]

reading environmental science books can be incredibly frustrating, because even when theyre written by professionals who actually know what theyre talking about, who are clearly passionate about their work and about the world, and know the steps needed to reverse the climate crisis, they are almost never radicals.

like they spend an entire book meticulously breaking down the importance of ecological stability, laying out the arguments that work for people who care, and for those who are only worried about money, putting together plans of action that require national and international action

and then at the end they go "and people should eat less meat and use paper straws :)" no!!!

for one thing "people need to-" is not an actionable plan. the people will not. it is not like policy or initiatives where, if you can convince the right people, you can make sonething happen. you cannot just change the habits if the entire world.

secondly, this fails to take into account the corporate interests in the situation. in massive national and international goods production such as the meat industry, supply and demand are no longer connected. it doesnt matter how many people stop buying meat, if the government is going to continue to subsidize its production and make up for any potential losses. and the government isnt going to stop doing that, because the meat industry spends millions of dollars on lobbying and directly enriches congressmembers. this is not something where you can simply speak to the secretary of agriculture and force a change.

and finally, all these books seem convinced that it is the Fact of, in this case, cattle farming, and not the How that is the issue. wild bison roamed the (not yet) american west in numbers equivalent to the current population of beef cattle, but their grazing and methane production were not blights upon the environment. it is the cultivation of monoculture turf fields, the use of pesticides, fungicides, and antibiotics, and the feeding of corn and other low quality scrap food that produces the problems associated with modern cattle farming. there are already some ranchers making strides toward more sustainable methods, and it's a growing movement!

what I mean by all this is, the scientists who write these books, who are clearly intelligent and mindful of their subjects, all seem deathly reluctant to challenge the overall economic and social system under which we live. they have no issue pointing out the flaws in our personal habits, our laws, and our philosophical connection with nature, but never seem to take the final step and say that the very system that created it all is in the wrong.

and I dont think it's a matter of trying to keep their goals realistic either. advocating for the complete dismantling of the cattle industry, or noninterference protections for a third of the oceans, or a comprehensive and enforced global climate initiative are about as likely to happen in the next decade as america becoming a socialist nation.

[mxwhore]

i love you lab grown diamonds i love you slavery-free chocolate i love you community gardens i love you fact that the insulin patent was sold for $1 i love you locally produced meat and milk i love you streets turned into walkable parks i love you little reminders that Things Do Not Have To Be This Way and there are people working to build a better world!!

[goaliedyke]

big produce day

[livelocalorganic]

Savor the Health Benefits of Organic, Locally Grown Produce

In a world where convenience often triumphs over quality, it’s important to take a moment to appreciate the tremendous benefits of organic, locally grown produce. In recent years, there has been a resurgence of interest in sustainable farming practices and the consumption of fresh, pesticide-free fruits and vegetables. Not only does organic, locally grown produce offer a host of health benefits,…

[parsleypesto]

this is maybe an unrelatable rant but i’m so cranky about it. woolies charges $1.20 EACH for a red capsicum. my local fruit+veg market charges $1.99 a KILO!! increasing the price of fruit and veg like that in a time like this is evil fuck woolies it’s not like they’re giving that extra money to the growers anyway

[cathkaesque]

The local population in countries that export bananas typically eat different varieties grown primarily by small farmers. The ones for the Americans and the Europeans, Cavendish variety bananas, are grown in huge, monoculture plantations that are susceptible to disease. The banana industry consumes more agrichemicals than any other in the world, asides from cotton. Most plantations will spend more on pesticides than on wages. Pesticides are sprayed by plane, 85% of which does not land on the bananas and instead lands on the homes of workers in the surrounding area and seeps into the groundwater. The results are cancers, stillbirths, and dead rivers.

The supermarkets dominate the banana trade and force the price of bananas down. Plantations resolve this issue by intensifying and degrading working conditions. Banana workers will work for up to 14 hours a day in tropical heat, without overtime pay, for 6 days a week. Their wages will not cover their cost of housing, food, and education for their children. On most plantations independent trade unions are, of course, suppressed. Contracts are insecure, or workers are hired through intermediaries, and troublemakers are not invited back.

Who benefits most from this arrangement? The export value of bananas is worth $8bn - the retail value of these bananas is worth $25bn. Here's a breakdown of who gets what from the sale of banana in the EU.

On average, the banana workers get between 5 and 9% of the total value, while the retailers capture between 36 to 43% of the value. So if you got a bunch of bananas at Tesco (the majority of UK bananas come from Costa Rica) for 95p, 6.65p would go to the banana workers, and 38p would go to Tesco.

Furthermore, when it comes to calculating a country's GDP (the total sum of the value of economic activity going on in a country, which is used to measure how rich or poor a country is, how fast its economy is 'growing' and therefore how valuable their currency is on the world market, how valuable its government bonds, its claim on resources internationally…etc), the worker wages, production, export numbers count towards the country producing the banana, while retail, ripening, tariffs, and shipping & import will count towards the importing country. A country like Costa Rica will participate has to participate in this arrangement as it needs ‘hard’ (i.e. Western) currencies in order to import essential commodities on the world market.

So for the example above of a bunch of Costa Rican bananas sold in a UK supermarket, 20.7p will be added to Costa Rica’s GDP while 74.3p will be added to the UK’s GDP. Therefore, the consumption of a banana in the UK will add more to the UK’s wealth than growing it will to Costa Rica’s. The same holds for Bangladeshi t-shirts, iPhones assembled in China, chocolate made with cocoa from Ghana…it’s the heart of how the capitalism of the ‘developed’ economy functions. Never ending consumption to fuel the appearance of wealth, fuelled by the exploitation of both land and people in the global south.

[is-this-even-relatable]

Danny runs an Infinite Realms shop. Curiosities from every dimension, any culturally significant item lost to time, and some cheap china. He’s got it all~

____________________

NEW FIC IDEA JUST DROPPED

Ok so i’ve been steeped in the dpxdc for many a year now. I've seen a bit of everything. I want to combine some of those ideas with a bit of my own headcanon and see what takes shape.

____________________

Danny, half dead and half alive, one of the rarest species in existence, grown up yet still so young considering his immortality, powerful sovereign of an infinite dimension of beings from every possible world and universe, decides to settle somewhere and take it slow. After all, he's got eternity to do so.

So he finds a dimension he thought could only exist in comic books, and thought to himself, Now this, this is a nice place to settle. He loves how many heroes there are in this world, heck there are even aliens! Yet there are many heroes for a reason. With so many dark forces in the universe, it had to produce many bright beacons of hope to balance the encroaching evil. That is another reason why he chose this particular dimension, and this particular city. There was just so much negative energy, too much, in fact, that the heroes in this city, Gotham, could not keep up. He hoped that over the next century or however long he remained in this dimension, that his presence would provide a much-needed balm to the area, and that the sickly dark fingers of cosmic corruption would lessen. If not, well, he could always take a more direct approach. After all, he had the power of infinite universes backing him, one measly dimension’s worth of corruption against him would be like a minnow trying to catch a shark.

With a little bit of time travel shenanigans (thanks, Clockwork!), Danny soon has a perfectly legal identity as one Daniel James Fenton-Phantom, 30 years old (he figures he can pass as such, even though he stopped aging around 25), from a random town in bumfuck Illinois (sue him, it’s familiar). And after a bit of researching, Danny chooses a small street in the rougher side of the city. Not too big to be deemed as suspicious for buying practically the whole block, and out of the way enough to not attract too much attention. He spends a couple weeks getting used to the energy in this new dimension and setting up his haunt. He cleaned up what he was now referring to as “his street” in his head, and got rid of the debris, trash and general wear from the buildings. He hired some locals to renovate one, an old apartment that he was planning on renting out and staying in. He also chose a smaller building, somewhat tucked away in the corner, to use as his own personal store. The rest he leased out for cheap to small and struggling local businesses. He figured it’s the least he could do after already occupying so much space.

Several days later, and voila, his home was set.

[baked-hylian]

That feel when there's a map at the beginning of the book

[mostlysignssomeportents]

How to shatter the class solidarity of the ruling class

I'm touring my new, nationally bestselling novel The Bezzle! Catch me WEDNESDAY (Apr 11) at UCLA, then Chicago (Apr 17), Torino (Apr 21) Marin County (Apr 27), Winnipeg (May 2), Calgary (May 3), Vancouver (May 4), and beyond!

Audre Lorde counsels us that "The Master's Tools Will Never Dismantle the Master's House," while MLK said "the law cannot make a man love me, but it can restrain him from lynching me." Somewhere between replacing the system and using the system lies a pragmatic – if easily derailed – course.

Lorde is telling us that a rotten system can't be redeemed by using its own chosen reform mechanisms. King's telling us that unless we live, we can't fight – so anything within the system that makes it easier for your comrades to fight on can hasten the end of the system.

Take the problems of journalism. One old model of journalism funding involved wealthy newspaper families profiting handsomely by selling local appliance store owners the right to reach the townspeople who wanted to read sports-scores. These families expressed their patrician love of their town by peeling off some of those profits to pay reporters to sit through municipal council meetings or even travel overseas and get shot at.

In retrospect, this wasn't ever going to be a stable arrangement. It relied on both the inconstant generosity of newspaper barons and the absence of a superior way to show washing-machine ads to people who might want to buy washing machines. Neither of these were good long-term bets. Not only were newspaper barons easily distracted from their sense of patrician duty (especially when their own power was called into question), but there were lots of better ways to connect buyers and sellers lurking in potentia.

All of this was grossly exacerbated by tech monopolies. Tech barons aren't smarter or more evil than newspaper barons, but they have better tools, and so now they take 51 cents out of every ad dollar and 30 cents out of ever subscriber dollar and they refuse to deliver the news to users who explicitly requested it, unless the news company pays them a bribe to "boost" their posts:

https://www.eff.org/deeplinks/2023/04/saving-news-big-tech

The news is important, and people sign up to make, digest, and discuss the news for many non-economic reasons, which means that the news continues to struggle along, despite all the economic impediments and the vulture capitalists and tech monopolists who fight one another for which one will get to take the biggest bite out of the press. We've got outstanding nonprofit news outlets like Propublica, journalist-owned outlets like 404 Media, and crowdfunded reporters like Molly White (and winner-take-all outlets like the New York Times).

But as Hamilton Nolan points out, "that pot of money…is only large enough to produce a small fraction of the journalism that was being produced in past generations":

https://www.hamiltonnolan.com/p/what-will-replace-advertising-revenue

For Nolan, "public funding of journalism is the only way to fix this…If we accept that journalism is not just a business or a form of entertainment but a public good, then funding it with public money makes perfect sense":

https://www.hamiltonnolan.com/p/public-funding-of-journalism-is-the

Having grown up in Canada – under the CBC – and then lived for a quarter of my life in the UK – under the BBC – I am very enthusiastic about Nolan's solution. There are obvious problems with publicly funded journalism, like the politicization of news coverage:

https://www.theguardian.com/media/2023/jan/24/panel-approving-richard-sharp-as-bbc-chair-included-tory-party-donor

And the transformation of the funding into a cheap political football:

https://www.cbc.ca/news/politics/poilievre-defund-cbc-change-law-1.6810434

But the worst version of those problems is still better than the best version of the private-equity-funded model of news production.

But Nolan notes the emergence of a new form of hedge fund news, one that is awfully promising, and also terribly fraught: Hunterbrook Media, an investigative news outlet owned by short-sellers who pay journalists to research and publish damning reports on companies they hold a short position on:

https://hntrbrk.com/

For those of you who are blissfully distant from the machinations of the financial markets, "short selling" is a wager that a company's stock price will go down. A gambler who takes a short position on a company's stock can make a lot of money if the company stumbles or fails altogether (but if the company does well, the short can suffer literally unlimited losses).

Shorts have historically paid analysts to dig into companies and uncover the sins hidden on their balance-sheets, but as Matt Levine points out, journalists work for a fraction of the price of analysts and are at least as good at uncovering dirt as MBAs are:

https://www.bloomberg.com/opinion/articles/2024-04-02/a-hedge-fund-that-s-also-a-newspaper

What's more, shorts who discover dirt on a company still need to convince journalists to publicize their findings and trigger the sell-off that makes their short position pay off. Shorts who own a muckraking journalistic operation can skip this step: they are the journalists.

There's a way in which this is sheer genius. Well-funded shorts who don't care about the news per se can still be motivated into funding freely available, high-quality investigative journalism about corporate malfeasance (notoriously, one of the least attractive forms of journalism for advertisers). They can pay journalists top dollar – even bid against each other for the most talented journalists – and supply them with all the tools they need to ply their trade. A short won't ever try the kind of bullshit the owners of Vice pulled, paying themselves millions while their journalists lose access to Lexisnexis or the PACER database:

https://pluralistic.net/2024/02/24/anti-posse/#when-you-absolutely-positively-dont-give-a-solitary-single-fuck

The shorts whose journalists are best equipped stand to make the most money. What's not to like?

Well, the issue here is whether the ruling class's sense of solidarity is stronger than its greed. The wealthy have historically oscillated between real solidarity (think of the ultrawealthy lobbying to support bipartisan votes for tax cuts and bailouts) and "war of all against all" (as when wealthy colonizers dragged their countries into WWI after the supply of countries to steal ran out).

After all, the reason companies engage in the scams that shorts reveal is that they are profitable. "Behind every great fortune is a great crime," and that's just great. You don't win the game when you get into heaven, you win it when you get into the Forbes Rich List.

Take monopolies: investors like the upside of backing an upstart company that gobbles up some staid industry's margins – Amazon vs publishing, say, or Uber vs taxis. But while there's a lot of upside in that move, there's also a lot of risk: most companies that set out to "disrupt" an industry sink, taking their investors' capital down with them.

Contrast that with monopolies: backing a company that merges with its rivals and buys every small company that might someday grow large is a sure thing. Shriven of "wasteful competition," a company can lower quality, raise prices, capture its regulators, screw its workers and suppliers and laugh all the way to Davos. A big enough company can ignore the complaints of those workers, customers and regulators. They're not just too big to fail. They're not just too big to jail. They're too big to care:

https://pluralistic.net/2024/04/04/teach-me-how-to-shruggie/#kagi

Would-be monopolists are stuck in a high-stakes Prisoner's Dilemma. If they cooperate, they can screw over everyone else and get unimaginably rich. But if one party defects, they can raid the monopolist's margins, short its stock, and snitch to its regulators.

It's true that there's a clear incentive for hedge-fund managers to fund investigative journalism into other hedge-fund managers' portfolio companies. But it would be even more profitable for both of those hedgies to join forces and collude to screw the rest of us over. So long as they mistrust each other, we might see some benefit from that adversarial relationship. But the point of the 0.1% is that there aren't very many of them. The Aspen Institute can rent a hall that will hold an appreciable fraction of that crowd. They buy their private jets and bespoke suits and powdered rhino horn from the same exclusive sellers. Their kids go to the same elite schools. They know each other, and they have every opportunity to get drunk together at a charity ball or a society wedding and cook up a plan to join forces.

This is the problem at the core of "mechanism design" grounded in "rational self-interest." If you try to create a system where people do the right thing because they're selfish assholes, you normalize being a selfish asshole. Eventually, the selfish assholes form a cozy little League of Selfish Assholes and turn on the rest of us.

Appeals to morality don't work on unethical people, but appeals to immorality crowds out ethics. Take the ancient split between "free software" (software that is designed to maximize the freedom of the people who use it) and "open source software" (identical to free software, but promoted as a better way to make robust code through transparency and peer review).

Over the years, open source – an appeal to your own selfish need for better code – triumphed over free software, and its appeal to the ethics of a world of "software freedom." But it turns out that while the difference between "open" and "free" was once mere semantics, it's fully possible to decouple the two. Today, we have lots of "open source": you can see the code that Google, Microsoft, Apple and Facebook uses, and even contribute your labor to it for free. But you can't actually decide how the software you write works, because it all takes a loop through Google, Microsoft, Apple or Facebook's servers, and only those trillion-dollar tech monopolists have the software freedom to determine how those servers work:

https://pluralistic.net/2020/05/04/which-side-are-you-on/#tivoization-and-beyond

That's ruling class solidarity. The Big Tech firms have hidden a myriad of sins beneath their bafflegab and balance-sheets. These (as yet) undiscovered scams constitute a "bezzle," which JK Galbraith defined as "the magic interval when a confidence trickster knows he has the money he has appropriated but the victim does not yet understand that he has lost it."

The purpose of Hunterbrook is to discover and destroy bezzles, hastening the moment of realization that the wealth we all feel in a world of seemingly orderly technology is really an illusion. Hunterbrook certainly has its pick of bezzles to choose from, because we are living in a Golden Age of the Bezzle.

Which is why I titled my new novel The Bezzle. It's a tale of high-tech finance scams, starring my two-fisted forensic accountant Marty Hench, and in this volume, Hench is called upon to unwind a predatory prison-tech scam that victimizes the most vulnerable people in America – our army of prisoners – and their families:

https://us.macmillan.com/books/9781250865878/thebezzle

The scheme I fictionalize in The Bezzle is very real. Prison-tech monopolists like Securus and Viapath bribe prison officials to abolish calls, in-person visits, mail and parcels, then they supply prisoners with "free" tablets where they pay hugely inflated rates to receive mail, speak to their families, and access ebooks, distance education and other electronic media:

https://pluralistic.net/2024/04/02/captive-customers/#guillotine-watch

But a group of activists have cornered these high-tech predators, run them to ground and driven them to the brink of extinction, and they've done it using "the master's tools" – with appeals to regulators and the finance sector itself.

Writing for The Appeal, Dana Floberg and Morgan Duckett describe the campaign they waged with Worth Rises to bankrupt the prison-tech sector:

https://theappeal.org/securus-bankruptcy-prison-telecom-industry/

Here's the headline figure: Securus is $1.8 billion in debt, and it has eight months to find a financier or it will go bust. What's more, all the creditors it might reasonably approach have rejected its overtures, and its bonds have been downrated to junk status. It's a dead duck.

Even better is how this happened. Securus's debt problems started with its acquisition, a leveraged buyout by Platinum Equity, who borrowed heavily against the firm and then looted it with bogus "management fees" that meant that the debt continued to grow, despite Securus's $700m in annual revenue from America's prisoners. Platinum was just the last in a long line of PE companies that loaded up Securus with debt and merged it with its competitors, who were also mortgaged to make profits for other private equity funds.

For years, Securus and Platinum were able to service their debt and roll it over when it came due. But after Worth Rises got NYC to pass a law making jail calls free, creditors started to back away from Securus. It's one thing for Securus to charge $18 for a local call from a prison when it's splitting the money with the city jail system. But when that $18 needs to be paid by the city, they're going to demand much lower prices. To make things worse for Securus, prison reformers got similar laws passed in San Francisco and in Connecticut.

Securus tried to outrun its problems by gobbling up one of its major rivals, Icsolutions, but Worth Rises and its coalition convinced regulators at the FCC to block the merger. Securus abandoned the deal:

https://worthrises.org/blogpost/securusmerger

Then, Worth Rises targeted Platinum Equity, going after the pension funds and other investors whose capital Platinum used to keep Securus going. The massive negative press campaign led to eight-figure disinvestments:

https://www.latimes.com/business/story/2019-09-05/la-fi-tom-gores-securus-prison-phone-mass-incarceration

Now, Securus's debt became "distressed," trading at $0.47 on the dollar. A brief, covid-fueled reprieve gave Securus a temporary lifeline, as prisoners' families were barred from in-person visits and had to pay Securus's rates to talk to their incarcerated loved ones. But after lockdown, Securus's troubles picked up right where they left off.

They targeted Platinum's founder, Tom Gores, who papered over his bloody fortune by styling himself as a philanthropist and sports-team owner. After a campaign by Worth Rises and Color of Change, Gores was kicked off the Los Angeles County Museum of Art board. When Gores tried to flip Securus to a SPAC – the same scam Trump pulled with Truth Social – the negative publicity about Securus's unsound morals and financials killed the deal:

https://twitter.com/WorthRises/status/1578034977828384769

Meanwhile, more states and cities are making prisoners' communications free, further worsening Securus's finances:

https://pluralistic.net/2024/02/14/minnesota-nice/#shitty-technology-adoption-curve

Congress passed the Martha Wright-Reed Just and Reasonable Communications Act, giving the FCC the power to regulate the price of federal prisoners' communications. Securus's debt prices tumbled further:

https://www.govtrack.us/congress/bills/117/s1541

Securus's debts were coming due: it owes $1.3b in 2024, and hundreds of millions more in 2025. Platinum has promised a $400m cash infusion, but that didn't sway S&P Global, a bond-rating agency that re-rated Securus's bonds as "CCC" (compare with "AAA"). Moody's concurred. Now, Securus is stuck selling junk-bonds:

https://www.govtrack.us/congress/bills/117/s1541

The company's creditors have given Securus an eight-month runway to find a new lender before they force it into bankruptcy. The company's debt is trading at $0.08 on the dollar.

Securus's major competitor is Viapath (prison tech is a duopoly). Viapath is also debt-burdened and desperate, thanks to a parallel campaign by Worth Rises, and has tried all of Securus's tricks, and failed:

https://pestakeholder.org/news/american-securities-fails-to-sell-prison-telecom-company-viapath/

Viapath's debts are due next year, and if Securus tanks, no one in their right mind will give Viapath a dime. They're the walking dead.

Worth Rise's brilliant guerrilla warfare against prison-tech and its private equity backers are a master class in using the master's tools to dismantle the master's house. The finance sector isn't a friend of justice or working people, but sometimes it can be used tactically against financialization itself. To paraphrase MLK, "finance can't make a corporation love you, but it can stop a corporation from destroying you."

Yes, the ruling class finds solidarity at the most unexpected moments, and yes, it's easy for appeals to greed to institutionalize greediness. But whether it's funding unbezzling journalism through short selling, or freeing prisons by brandishing their cooked balance-sheets in the faces of bond-rating agencies, there's a lot of good we can do on the way to dismantling the system.

If you'd like an essay-formatted version of this post to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:

https://pluralistic.net/2024/04/08/money-talks/#bullshit-walks

Image: KMJ (modified) https://commons.wikimedia.org/wiki/File:Boerse_01_KMJ.jpg

CC BY-SA 3.0 https://creativecommons.org/licenses/by-sa/3.0/deed.en