Critique of The Crisis of 2016, Wish list for the Thom Hartman show.

TARP could have been the Reconstruction Finance Corporation of 1932 (passed by Hoover, but used by Roosevelt). TARP only was allowed to lend money to the banks and not to businesses or individuals such as struggling homeowners. If Congress or Obama had left the restriction out of the law, TARP could have acted like the RFC or the GI Bill did.

Obama could ask his treasury to create a pension treasury bond which pays 8% and then allow the social security trust fund, any public or private defined benefit plan to buy the bonds at issuance. It would sole the pension and social security crisis and stop the bleeding wall street is doing by debt deflation.

Central planning is performed by wall street. They not only loot the treasury but enable the overleverage of real estate by lobbying for property tax caps.

When bank reserves are greater than -0- (over a trillion today) the federal reserve can't increase the money supply, only the treasury can by running a deficit (lending t bills and bonds). Quanitiative easing is allowing the banks to create more derivatives such as credit default swaps by allowing the fiction of the bank having a greater tier 1 capital ratio. Lehman Brothers would satisfy Tier 1 capital requirements today. The Fed can't increase the money supply or increase the velocity of money.

The SEC rule 20, put into use in 1986 made Glass Steagell feckless. Greenspan than allowed the banks to trade up to 25% of their capital (a very large number) which he used the ruse (was really illegal) that it was dimunitive. Gramm-Leach-Bliley Act wasn't necessary other than to legitimize citigroup which merged a bank, insurance company and an investment bank.

Derivative Modernaziation Act of 2000 was passed to counter Brooksley Borne who had already resigned. It passed despite the Long Term Capital Management crisis which should have been a warning sign.

Wish List: I wish Thom Hartman could have on his show: Michael Hudson, Brooksley Borne, Bill Powers and Art Berman.

My call to the show was shortened. Perhaps because I was perceived to be a climate denier or worse?

The reason I was pointing out the shortage or hype of cheap natural gas and carbon was not to promote its extraction but to promote that time is of the essence to build renewables. When cheap carbon disappears, the ability to build renewables inexpensively will disappear as well. Solar panels, wind mills and geothermal power cannot yet reproduce itself (being 1-2% of power generation, worldwide).

Also an energy crisis could tip the country and the economy into a crisis, such as the one Mr. Hartman writes about in the crisis of 2016. 10 of the 11 recessions and economic crisis, energy was a factor.

Sorry if my message was befuddled.

PS - Read 2 books on the subject

http://www.postcarbon.org/book/1788629-snake-oil-how-fracking-s-false-promise#

http://www.amazon.com/Cold-Hungry-Dark-Exploding-Natural/dp/0865717435

The suspect is dead from apparent suicide.

Confusion of faith with fact.

It seems to me the core problem is that these people don't understand their own religious tenant of faith. The whole reason why (Christians at least) speak of faith is to acknowledge the difference between faith and fact. When people, like the gentleman that you had on your show, pretend that matters of faith are fact, they are using flawed logic.

I am Christian. I realize that my faith can be completely wrong. I acknowledge that flawed men wrote the Bible.

So the Republicans say the Social Security Trust fund is just IOU's AND we have to sock away 75 years retirement financing for the post office in another fund because it's a Responsible Thing To Do. Can someone explain this apparent contradiction for me?

Do Dems block the nominations and appointments of Rethuglican presidents?

Why are Rethuglicans allowed to inhibit the running of a fairly elected Democratic administration--for 5/6 years? Is this so they can rail against the errors that are made because important positions haven't been filled? And lie to the voters that Dems cannot do the job, while they KEEP them from doing their job?

I'm listening late a night and woman just called to talk about how "god" was created. I have a different idea:

6,000 years ago a guy was arguing with a woman. She would not shut up. He finally said, "It's not me, it's god" while pointing up. She shut up. He told all his friends about it and they did the same thing and it worked every time. The females shut up. 6,000 years later -- it's what we still have.

Judith *smile* Tucson, AZ

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He then goes on to say...

"Three decades of trickledown economics; the monopolization, privatization and deregulation of industry; and the destruction of labor protection has resulted in 50 million Americans living in abject poverty, while 400 individuals own more than one-half of the nation’s wealth. As the four Walmart heirs enjoy a higher net worth than the bottom 40 percent, our nation’s sense of food insecurity is more on par with developing countries like Indonesia and Tanzania than with OECD nations like Australia and Canada. In fact, the percentage of Americans who say they could not afford the food needed to feed their families at some point in the last year is three times that of Germany, more than twice than Italy and Canada.

The destruction of labor has been so comprehensive that first-world nations now offshore their jobs to the U.S. In other words, we’ve become the new India. Foreign companies now see us as the world’s cheap labor force, and we have the non-unionized South to thank for that. Chuck Thompson, author of Better off Without Em, writes, “Like Mexico, the South has spent the past four decades systematically siphoning auto jobs from Michigan and the Midwest by keeping worker’s salaries low and inhibiting their right to organize by rendering their unions toothless.” Average wages for autoworkers in the South are up to 30 percent lower than in Michigan."

I asked him to join our little forum. I hope he accepts.