Balls to the walls capitalism, a.k.a. high seas piracy.

“Four months ago, during the monsoon rains, we decided to set up this stock exchange. We started with 15 ‘maritime companies’ and now we are hosting 72. Ten of them have so far been successful at hijacking,” Mohammed said.

“The shares are open to all and everybody can take part, whether personally at sea or on land by providing cash, weapons or useful materials … we’ve made piracy a community activity.”

You know that tired old saying, “if you can’t beat ‘em, join ‘em?”

Somalia’s Western-backed government of President Sheikh Sharif Ahmed is pinned down battling hard-line Islamist rebels, and controls little more than a few streets of the capital.

The administration has no influence in Haradheere — where a senior local official said piracy paid for almost everything.

“Piracy-related business has become the main profitable economic activity in our area and as locals we depend on their output,” said Mohamed Adam, the town’s deputy security officer.

“The district gets a percentage of every ransom from ships that have been released, and that goes on public infrastructure, including our hospital and our public schools.”

Shit man, maybe California needs to step up and pay attention? I mean, we’re fucking broke, so broke we almost went stateless. Think I’m joking?

“I looked as hard as I could at how states could declare bankruptcy,” said Michael Genest, director of the California Department of Finance who is stepping down at the end of the year. “I literally looked at the federal constitution to see if there was a way for states to return to territory status.”

One more interesting tidbit to throw in about school spending and criminals:

The chart … shows an almost ghostly parallel: adjusted for inflation, UC tuition has gone up 5x since 1980. During the same period, spending on corrections has also gone up 5x. As we spend ever more on warehousing prisoners, we’re forced to make students pay ever more for their education. The two lines track almost exactly.

Maybe instead of taxing our students because we’re going broke paying for our criminals…. maybe we should put them to use like the Somali’s have?

Mind you, that’s probably a terrible idea, but… I mean, if we’re actually trying to figure out how to de-state-ify our state….

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