Thom Hartmann Program - 1 Hour Edition - 12/11/18 - Are there financial and structural indicators that the unraveling of the economy Thom predicted is happening now? Respected economist Dr. Stephanie Kelton says we can avoid climate disaster with a Green New Deal, and pay for it too. Plus: France's Yellow Vest Movement, and... President Pelosi??
The Hartmann Report
Thom Hartmann
4.5 • 1.3K Ratings
🗓️ 11 December 2018
⏱️ 61 minutes
🧾️ Download transcript
Summary
After all the losses in the stock market, Thom postulates that financial signs indicate we may be coming to the crash he wrote about in his book, the inevitable consequence of the way the system was propped up in after the crash of 2007. But this time we don't have room to drop interest rates. What can we do? ------ Green New Deal. And she says there is a way we can pay for it too. ------ A fascinating discussion on the possible consequences of the federal deficit. Japan's example discussed. And Thom debates a caller who says we need to pay everything off. ------ Cole Stangler reports from Paris, France on the Yellow Vest Movement. ------ Now that Trump has been named as a criminal in a federal case, what would be the consequence of impeaching Trump and Pence together? Callers get excited and dream about House Speaker Pelosi becoming President, and related ideas. ------ James in Spokane brings up the question of changing House rules when Democrats take their majority in the House of Reps in January. And then Thom asks Bob Ney of Talk Media News how this might work, he gets an earful of interesting.
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Transcript
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| 0:00.0 | This is the Tom Hartman program. |
| 0:15.0 | Creetings my friends, patriots, lovers of democracy, truth and justice, |
| 0:20.0 | believers, and peace, freedom in the American way, Tom Harbin here with you. |
| 0:24.7 | Chuck Butler writes a newsletter for Aidanforecast. |
| 0:27.5 | Aidan4cast.com, they're a sponsor of our program, or at least they were, I'm not sure |
| 0:32.0 | that they still are. |
| 0:33.2 | But I've subscribed to their newsletter for probably close to 20 years now. |
| 0:37.2 | And Chuck pointed out a number of things that I just wanted to share with you that I think are worth noting. |
| 0:43.3 | We're watching the stock market drop |
| 0:45.6 | and people are wondering, well, what's going on? |
| 0:47.4 | Is this the sugar high from the tax breaks wearing off? |
| 0:50.3 | Or is this just a normal cycle in capitalism or are there actual structural |
| 0:56.3 | deficiencies now in my book the crash of 2016 which really should have just |
| 1:01.3 | been titled the great crash because here it is, I think, or |
| 1:04.7 | we're on the doorstep of it within the next year. |
| 1:08.6 | In that book I laid out how basically in 2009 after President Obama came to power and set about fixing our |
| 1:16.5 | economy and putting us back on track that what had precipitated this in |
| 1:21.8 | 2007 was massive corporate debt that was highly leveraged and the |
| 1:28.3 | inability of the Fed to drop interest rates far enough and fast enough to make up for the loss of what's called liquidity that is available credit in the marketplace. |
| 1:39.0 | Chuck starts out talking about how consumer debt now here in the well first of all that the |
| 1:43.2 | stock market lost a trillion dollars last week which means that that small |
| 1:48.2 | portion of the stock market you know the five or ten percent that is literally |
... |
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