The Economic Winds Are Howling...

Thom plus logo In 2008, we saw the result of three decades of neoliberalism in the United States and Europe, what we used to call Reaganism and Thatcherism, damage and shake the world financial system. Rather than resolving the problem by repudiating neoliberalism, including its emphasis on more money for rich people and less money for workers, big tax breaks for the wealthy, the deregulation of corporations from pollution to banking, and so-called "free trade," the central banks of the world have been desperately trying to hold things together with bubblegum and bailing wire - also known as low interest rates.

Now it has reached the point where one of the largest banks in Denmark is offering negative interest rates on home mortgage loans. What that means is that if you buy a house and take out a mortgage right now with this bank, the amount that you will pay back at the end of 10 years will be less than the amount that you borrowed. The bank is paying you to take out a mortgage. While the bank is charging some fees to cover some of their costs, this is clearly an unsustainable business model, And shows us how the efforts of central banks desperately trying to avoid the world sliding back into the crisis of 2008 are failing. Batten down your hatches.

The economic winds are starting to howl.

-Thom

Can the Presidency Regain Its Integrity After Trump?

Thom plus logo Even those of us old enough to remember have probably forgotten that in the spring of 1979 the Attorney General of the United States appointed a special prosecutor to look into his own president's ownership of his peanut warehouse, to make sure that he wasn't, in any way, making money from his presidency.

Latest Headlines

Who rejected United States-North Korea peace talks?

There were conflicting reports on Sunday regarding a recent proposal for United States-North Korea peace talks which was allegedly made before North Korea"s recent nuclear test

U.K. Pound Falls As Markets Get Brexit Jitters

Bloomberg said on Monday the pound had sustained its biggest fall against the dollar in 11 months

Clinton: I'll defend Israel but push for 'two-state solution

Hillary Clinton believes both Republican candidates Donald Trump and Ted Cruz "missed the mark" with their approach to the Israel-Palestinian Arab conflict
From Screwed:
"Hartmann speaks with the straight talking clarity and brilliance of a modern day Tom Paine as he exposes the intentional and systematic destruction of America’s middle class by an alliance of political con artists and outlines a program to restore it. This is Hartmann at his best. Essential reading for those interested in restoring the institution that made America the envy of the world."
David C. Korten, author of The Great Turning and When Corporations Rule the World
From The Thom Hartmann Reader:
"Thom Hartmann is a literary descendent of Ben Franklin and Tom Paine. His unflinching observations and deep passion inspire us to explore contemporary culture, politics, and economics; challenge us to face the facts of the societies we are creating; and empower us to demand a better world for our children and grandchildren."
John Perkins, author of the New York Times bestselling book Confessions of an Economic Hit Man
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."
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."