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

Trump Has Only Had One Job In His Entire Life: Celebrity. Will It Work For Him in November?

Thom plus logo With one simple understanding, everything about Trump's life and presidency comes into focus.

Why would it be that Trump refuses to do his job, including reading intelligence reports? Why would Trump revel in lies and outrageous statements? Why would he retweet a game show hosts conspiracy theories about the coronavirus while trashing his own scientists? Why is Trump, every day, waking up and asking how he can capture the news cycle regardless of its impact on public health or democracy?
From The Thom Hartmann Reader:
"Thom Hartmann channels the best of the American Founders with voice and pen. His deep attachment to a democratic civil society is just the medicine America needs."
Tom Hayden, author of The Long Sixties and director, Peace and Justice Resource Center.
From The Thom Hartmann Reader:
"Thom Hartmann is a creative thinker and committed small-d democrat. He has dealt with a wide range of topics throughout his life, and this book provides an excellent cross section. The Thom Hartmann Reader will make people both angry and motivated to act."
Dean Baker, economist and author of Plunder and Blunder, False Profits, and Taking Economics Seriously
From The Thom Hartmann Reader:
"With the ever-growing influence of corporate CEOs and their right-wing allies in all aspects of American life, Hartmann’s work is more relevant than ever. Throughout his career, Hartmann has spoken compellingly about the value of people-centered democracy and the challenges that millions of ordinary Americans face today as a result of a dogma dedicated to putting profit above all else. This collection is a rousing call for Americans to work together and put people first again."
Richard Trumka, President, AFL-CIO