Daily Take: What Happens When the Economy Fails Depends on Who You Are
The Hartmann Report
Thom Hartmann
4.5 • 1.3K Ratings
🗓️ 16 January 2026
⏱️ 13 minutes
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Summary
For working families, recessions mean job loss and debt; for billionaires, they mean discounted assets and record wealth gains…
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Transcript
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| 0:00.0 | A new year, colder days, this is the moment your winter wardrobe really has to deliver. |
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| 0:55.2 | That's Q-U-I-N-C-E.com slash Tom, Quince.com slash Tom. |
| 1:01.4 | What happens when the economy fails depends on who you are. |
| 1:06.8 | Get ready. |
| 1:07.7 | Something truly awful is happening to our economy, at least for average Americans, |
| 1:12.0 | as the result of Trump's billions and tax breaks for billionaires, looting of our treasury and economy, |
| 1:17.4 | 38 trillion national debt, and his corrupt embrace and promotion of foreign autocracies and digital currencies. |
| 1:25.4 | If it happens, it's going to hurt many of us, all while making Trump's |
| 1:29.0 | billionaire buddies massively richer. I remember the look on Treasury Secretary Hank Paulson's |
| 1:34.6 | face when the economy crashed in 2008. The former Goldman Sachs' CEOs, hands trembled as he stood |
| 1:41.7 | at a podium and confessed that the GOP's banking deregulation had blown up the American financial system in very nearly the global economy. |
| 1:50.3 | Millions of Americans lost their homes, their jobs, and their retirements that year. |
| 1:54.7 | But the Barons of Wall Street lost nothing except a brief moment of embarrassment and then paid themselves tens of billions in bonuses. |
| 2:02.6 | About $430 billion was initially shoveled out the federal door and into the banks in just one month, |
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