Tuesday 16 March '10 show notes

  • Guests:
    • Tim Duncan, Entrepreneur, executive & attorney in the field of corporate finance; worked closely with Professor Elizabeth Warren on Consumer Financial Protection Act.
    • Michael J. McHugh, Director of Marketing, Homeschools.org. "The Christian Educator"
    • Professor Jerry Coyne, Department of Ecology and Evolution, Biological Sciences Collegiate Division.
    • Barry C. Lynn, author of "Cornered: The New Monopoly Capitalism and the Economics of Destruction", Director of the Markets, Enterprise, and Resiliency Initiative, and a senior fellow in the New America Foundation's Economic Growth Program.
  • Topics:
    • Are the Democrats able to stop the banksters from creating a new great depression?
    • Is it child abuse to homeschool your children with books from Bob Jones University?
    • How has capitalism been used by the new robber baron predators to destroy America's middle class?
  • Bumper Music:
  • Today's newsletter has details of today's guests and links to the major stories and alerts that Thom covered in the show, plus lots more. If you haven't signed up for the free newsletter yet, please do. If you missed today's newsletter, it is in the archive.
  • Quote: "Education is a better safeguard of liberty than a standing army." ~ Edward Everett.
  • Article: Corporate Debt Coming Due May Squeeze Credit By Nelson D. Schwartz.

    When the Mayans envisioned the world coming to an end in 2012 — at least in the Hollywood telling — they didn’t count junk bonds among the perils that would lead to worldwide disaster.

    Maybe they should have, because 2012 also is the beginning of a three-year period in which more than $700 billion in risky, high-yield corporate debt begins to come due, an extraordinary surge that some analysts fear could overload the debt markets.

    With huge bills about to hit corporations and the federal government around the same time, the worry is that some companies will have trouble getting new loans, spurring defaults and a wave of bankruptcies.

    The United States government alone will need to borrow nearly $2 trillion in 2012, to bridge the projected budget deficit for that year and to refinance existing debt.

    Indeed, worries about the growth of national, or sovereign, debt prompted Moody’s Investors Service to warn on Monday that the United States and other Western nations were moving “substantially” closer to losing their top-notch Aaa credit ratings.

  • Article: Congress letter urges action on renminbi By Daniel Dombey.

    More than 100 members of the US Congress on Monday called on the Obama administration to label China a currency manipulator, in a move that highlighted the pressure on Washington to take a more confrontational stance towards Beijing.

    In a letter to Timothy Geithner, Treasury secretary, and Gary Locke, commerce secretary, the 130 Congressmen demanded the administration designate China a manipulator when it issues its regular report on currency manipulation next month. They called for countervailing duties to be imposed on Chinese imports.

  • Article: Top home-school texts dismiss Darwin, evolution (AP).

    The textbook delivers a religious ultimatum to young readers and parents, warning in its "History of Life" chapter that a "Christian worldview ... is the only correct view of reality; anyone who rejects it will not only fail to reach heaven but also fail to see the world as it truly is."

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