Thom Hartmann - The Crash of 2016

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The United States is more vulnerable today than ever before—including during the Great Depression and the Civil War—because the pillars of democracy that once supported a booming middle class have been corrupted, and without them, America teeters on the verge of the next Great Crash.
The United States is in the midst of an economic implosion that could make the Great Depression look like child's play. In THE CRASH OF 2016, Thom Hartmann argues that the facade of our once-great United States will soon disintegrate to reveal the rotting core where corporate and billionaire power and greed have replaced democratic infrastructure and governance. Our once-enlightened political and economic systems have been manipulated to ensure the success of only a fraction of the population at the expense of the rest of us.
The result is a “for the rich, by the rich” scheme leading to policies that only benefit the highest bidders. Hartmann outlines the destructive forces-planted by Lewis Powell in 1971 and come to fruition with the “Reagan Revolution”—that have looted our nation over the past decade, and how their actions fit into a cycle of American history that lets such forces rise to power every four generations.
However, a backlash is now palpable against the “economic royalists”—a term coined by FDR to describe those hoarding power and wealth-including the banksters, oligarchs, and politicians who have plunged our nation into economic chaos and social instability.
Although we are in the midst of what could become the most catastrophic economic crash in American History, a way forward is emerging, just as it did in the previous great crashes of the 1760s, 1856, and 1929. The choices we make now will redefine American culture. Before us stands a genuine opportunity to embrace the moral motive over the profit motive—and to rebuild the American economic model that once yielded great success.
Thoroughly researched and passionately argued, THE CRASH OF 2016 is not just a roadmap to redemption in post-Crash America, but a critical wake-up call, challenging us to act. Only if the right reforms are enacted and the moral choices are made, can we avert disaster and make our nation whole again.

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31 Jack Anderson, “Powell’s Lesson to Business Aired,” Washington Post , September 28, 1972.

32 Ibid.

33 Ibid.

34 “The Powell Memo,” ReclaimDemocracy.org, http://reclaimdemocracy.org/powell_memo_lewis/.

35 Ibid.

36 Ibid.

37 Ibid.

38 Ibid.

39 Ibid.

40 Ibid.

41 Ibid.

42 Tom Dickinson, “How Roger Ailes Built the Fox News Fear Factory,” Rolling Stone , May 25, 2011, http://www.rollingstone.com/politics/news/how-roger-ailes-built-the-fox-news-fear-factory-20110525.

43 John Cook, “Roger Ailes’ Secret Nixon-Era Blueprint for Fox News,” Gawker, June 30, 2011, http://gawker.com/5814150/roger-ailes-secret-nixon+era-blueprint-for-fox-news.

44 Lanny Ebenstein, Milton Friedman: A Biography (New York: Palgrave MacMillan, 2007).

45 Interview, Commanding Heights, PBS, October 1, 2000, http://www.pbs.org/wgbh/commandingheights/shared/minitext/int_miltonfriedman.html.

46 Milton Friedman, Capitalism and Freedom (University of Chicago Press, 1962).

47 Naomi Klein, The Shock Doctrine: The Rise of Disaster Capitalism (New York: MacMillan, 2010).

48 Orlando Letelier, “The Chicago Boys in Chile: Economic Freedom’s Awfull Toll,” The Nation , August 28, 1976, http://www.ditext.com/letelier/chicago.html.

49 Milton Friedman and Rose Friedman, “One Week in Stockholm,” Hoover Digest 1998, No. 4 (October 30, 1998), http://www.hoover.org/publications/hoover-digest/article/6969.

50 The Works of Thomas Jefferson , Volume 12, Federal Edition (New York and London: G. P. Putnam’s Sons, 1904–5).

51 Thomas Jefferson, Letter to Samuel Kercheval, July 12, 1816, in Memoirs, Correspondence and Private Papers of Thomas Jefferson, Late President of the United States, Volume 4 (London: Colburn and Bentley, 1829).

52 Thomas Jefferson, Letter to James Madison, October 28, 1785, http://press-pubs.uchicago.edu/founders/documents/v1ch15s32.html.

53 “Analysis of U.S. Census Bureau Data” in The State of Working America 1994–95 , Economic Policy Institute (M. E. Sharpe, 1994), 37.

54 Michael Linden, “The Myth of the Lower Marginal Tax Rates,” Center for American Progress, June 20, 2011, http://www.americanprogress.org/issues/tax-reform/news/2011/06/20/9841/the-myth-of-the-lower-marginal-tax-rates/.

55 Franklin Delano Roosevelt, 1936 Democratic National Convention speech, June 27, 1936, Philadelphia, Pennsylvania.

56 Franklin Delano Roosevelt, 1944 State of the Union Address, January 11, 1944.

57 Teddy Roosevelt, the New Nationalism speech, August 31, 1910.

58 Elizabeth J. Magie, “The Landlord’s Game,” reprinted from The Single Tax Review , Autumn 1902, http://www.cooperativeindividualism.org/magie-elizabeth-landlords-game-1902.html.

59 U.S. Council of Economic Advisors, 2000, Economic Report to the President, 2000 (Washington, DC: U.S. Government Printing Office, 2000), 279.

60 Grover Cleveland, 1888 State of the Union Address, December 3, 1888, Washington, DC.

61 Elizabeth J. Magie, “The Landlord’s Game,” reprinted from The Single Tax Review , Autumn 1902, http://www.cooperativeindividualism.org/magie-elizabeth_landlords-game-1902.html.

62 Charles J. Adams III, “Monopoly: From Berks to Boardwalk,” HISTORICAL REVIEW OF BERKS COUNTY WINTER 1978 , Volume XLIV, Number 1 (Winter 1978–79), http://landlordsgame.info/articles/berks2boardwalk.html.

63 Chrystia Freeland, Plutocrats: The Rise of the New Global Super Rich and the Fall of Everyone Else (New York: Penguin Press, 2012).

64 Henry George, Progress and Poverty (Gloucestershire, UK: Dodo Press, 2009).

65 “Essay: The FUTURISTS: Looking Toward A.D. 2000,” TIME , February 25, 1966, http://www.time.com/time/magazine/article/0,9171,835128,00.html.

66 Richard Wolff, “The Keynesian Revival: A Marxian Critique,” October 23, 2010, http://rdwolff.com/content/keynesian-revival-marxian-critique.

67 Ronald Reagan, First Inaugural Address, January 20, 1981, Washington, DC.

68 Jude Wanniski, “Taxes and a Two-Santa Theory,” National Observer , March 6, 1976, http://capitalgainsandgames.com/blog/bruce-bartlett/1701/jude-wanniski-taxes-and-two-santa-theory.

69 Interview with David Stockman, The Big Picture with Thom Hartmann , September 21, 2011, http://www.youtube.com/watch?v=FdZpOMpFf18.

70 Bill Clinton, the New Covenant speech, October 23, 1991, Georgetown University.

71 Bill Clinton, 1996 State of the Union Address, January 27, 1996, Washington, DC.

72 Marie Diamond, “On the 15th Anniversary of ‘Welfare Reform,’ Aid Is Not Getting To Those Who Need It Most,” ThinkProgress, August 22, 2011, http://thinkprogress.org/economy/2011/08/22/301231/tanf-15-anniversary/.

73 Bob Woodward, The Agenda: Inside the Clinton White House (New York: Simon & Schuster, 2005).

74 Dwight Eisenhower, Letter to his brother, November 8, 1954, http://www.snopes.com/politics/quotes/ike.asp.

75 John Kenneth Galbraith, The Great Crash 1929 (New York: Mariner Books, 2009).

76 Tom Philpott, “Foodies, Get Thee to Occupy Wall Street,” Mother Jones , October 14, 2011, http://www.motherjones.com/environment/2011/10/food-industry-monopoly-occupy-wall-street.

77 Ibid.

78 Interview with Susan Crawford, The Big Picture with Thom Hartmann , March 4, 2013, http://www.youtube.com/watch?v=PlO2IGTCHiU.

79 Interview with Chris Hedges, The Big Picture with Thom Hartmann , December 20, 2010, http://www.youtube.com/watch?v=By88H5vNMqk.

80 John Ralston Saul, The Collapse of Globalism (New York: Viking, 2005).

81 “America, Wake Up!” Americawakeup.net, http://americawakeup.net/.

82 Ibid.

83 David Wessel, “Big US Firms Ship Hiring Abroad,” Wall Street Journal , http://online.wsj.com/article/SB10001424052748704821704576270783611823972.html#project%3DMULTINATL0419_part2%26articleTabs%3Dinteractive.

84 Dustin Ensigner, “Economy in Crisis,” February 2011, http://economyincrisis.org/content/trade-deficit-south-korea-autos-continues-rise.

85 US Census, http://www.census.gov/foreign-trade/balance/c5330.html.

86 Eamonn Fingleton, In the Jaws of the Dragon (New York: St. Martin’s Griffin, 2009), 66.

87 Ibid., 67.

88 Ibid., 294.

89 Ibid., 27.

90 Chrystia Freeland, “The Rise of the New Global Elite,” The Atlantic , http://www.theatlantic.com/magazine/archive/2011/01/the-rise-of-the-new-global-elite/308343/.

91 James Goldmsith, The Trap (New York: Carroll & Graf Publishers, 1994).

92 Jeff Bercovici, “Why (Some) Psychopaths Make Great CEOs,” Forbes , June 14, 2011, http://www.forbes.com/sites/jeffbercovici/2011/06/14/why-some-psychopaths-make-great-ceos/.

93 Pub.L. 97-320, H.R. 6267, enacted October 15, 1982, http://hdl.loc.gov/loc.uscongress/legislation.97hr6267.

94 Matt Taibbi, Griftopia (New York: Spiegel & Grau, 2011).

95 Ibid.

96 Ibid.

97 Frederick Kaufman, “The Food Bubble: How Wall Street Starved Millions and Got Away with It,” Harper’s , July 2010, http://harpers.org/archive/2010/07/the-food-bubble/.

98 Ibid.

99 Ibid.

100 Noah Mendel, “When Did the Great Depression Receive Its Name,” History News Network, http://hnn.us/articles/61931.html.

101 Frederick Lewis Allen, Only Yesterday: An Informal History of the 1920’s (New York: HarperCollins, 2000).

102 Ibid.

103 Ibid.

104 http://www.westegg.com/inflation/infl.cgi.

105 Interview with Steve Keen, The Big Picture with Thom Hartmann , March 18, 2013, http://www.youtube.com/watch?v=-n-X4RQqJcs.

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