Sudhir Venkatesh nails it in the Sunday Times.  I'm not saying it should happen here in the same way, but at least the Europeans are loudly and publicly protesting the bailouts.  Executives are held hostage in France.  But what about us Americans?  Why are we so docile?

We aren't protesting like we should right now because of our personal household debt.  Crushing debts kill individuals, families, companies and nations, as John Perkins showed us about the 3rd World in Confessions of an Economic Hitman and we're now seeing in the United States.  

Debt also appears to kill the drive to be active citizens.  There is a psychology to money and how we handle money that is deeply personal but it has a profound effect on the way power is exerted in our society.  If we're in debt, we're told, "there's something wrong with you, and you should take care of your own business before complaining about politics".  And if you're worried about losing your house or job, you won't protest or form a union even though our wages have stagnated for the last 30 years under Reaganomics bubbles.  They've trapped us into peonage with usurious lending terms, and they now own and control our politics.

Venkatesh says it better than me:

Ultimately, however, what could keep the lid on unrest is the very issue that has pushed us toward the cliff: our high levels of personal and household debt. The average American owes about $9,000 on credit cards alone. Indebtedness redirects an individual's energies inward: failing to pay the mortgage and college tuition can bring up feelings of anxiety, shame and a sense of personal failure.

It's easy to feel that one isn't working hard enough, that one should try harder to save money or take on additional work. To rebel publicly, even to engage politically, would mean exposing your own inadequacies, so most people just hunker down and keep plugging away at those monthly payments.

As our shame grows, we shutter ourselves inside. Afraid of acknowledging our anger and unable to join those similarly suffering, we grow distant. Worse, we judge quickly and harshly the actions of others; we devolve into snark, which will never lead to meaningful change.

Is there hope? 

To restore our social bonds, each one of us must overcome our isolating feelings of embarrassment and humiliation and understand that this is a shared plight. We'll also have to accept that anger, real anger, has a role to play in producing collective catharsis and fostering healing.

Well, I say to my fellow American citizens in debt:  You are not alone, and it's not your fault!  The Credit Card contract is unconstitutional in its incomprehensibility.  Cut your cards, stop doing business with these banks, and let's protest!