YES! - Systemic Risk abounds. Nothing has been fixed since the crash of '08. The Zombie Banks are due to fail.
98%
NO! - This is just a single botched trade by a rogue London trader. There’s no real systemic risk here.
2%
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Thom's Blog Is On the Move
By webmaster
Hello All
Thom's blog in this space and moving to a new home.
Please follow us across to hartmannreport.com - this will be the only place going forward to read Thom's blog posts and articles.
Images of Thom
From The Thom Hartmann Reader:
"Right through the worst of the Bush years and into the present, Thom Hartmann has been one of the very few voices constantly willing to tell the truth. Rank him up there with Jon Stewart, Bill Moyers, and Paul Krugman for having the sheer persistent courage of his convictions."
From Unequal Protection, 2nd Edition:
"If you wonder why and when giant corporations got the power to reign supreme over us, here’s the story."
From Cracking the Code:
"No one communicates more thoughtfully or effectively on the radio airwaves than Thom Hartmann. He gets inside the arguments and helps people to think them through—to understand how to respond when they’re talking about public issues with coworkers, neighbors, and friends. This book explores some of the key perspectives behind his approach, teaching us not just how to find the facts, but to talk about what they mean in a way that people will hear."
Who cares.
The 99% is down to their last remaining hope for a fair and just American Society coming from a massive involuntary, and unfortunately very disruptive, redistribution of wealth. With any luck the power structure will also change in favor of the people.
Sadly, a “bad event” is probably something we’ll have to go through to get back to a democracy. Right now we are languishing in velvet fascism that is increasingly outright blatant fascism and we are getting ever closer to falling flat on our faces.
It’s like the only medical advice 10’s of million of Americans can afford when their sick: “barf, you might feel better!” In this case the barf is the 1%, ALEC, lack of campaign finance, and the political economic structure in general we have fallen into.
I watched an interview on CNBC yesterday that included former Governor of NY Spitzer. Also included were other bankers, etc. who all seemed to agree that more regulation was needed and/or that banks should be either broken up or investment banking should again be separate from depositor money. Also indicated that anything within banking that is covered by the FDIC should not be open to this type of investment gambling. I have been somewhat encourage by Republican leaning news, bankings, etc. who now seem to favor more regulation, not less. Maybe this is a wake up call that it's been business as usual and there is some concern that we'll experience a repeat of 2008. I hope this sentiment gets through to the House and they push through tougher regulations.
According to the documentary , "97% Owned", just 2.5% of our money is real.The other 97% is digital, much of it fictitious money based on the fantasy island of Manhattan economy, the ponzi, casino fraud economy.