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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106 Saskia Scholtes and Michael Mackenzie, “Hedge Funds Hone In on Housing,” Financial Times , September 27, 2006, http://www.ft.com/intl/cms/s/0/b78c0fdc-4e40-11db-bcbc-0000779e2340.html#axzz1NfIFsOZS.

107 James Mackintosh, “Alfred Hitchcock’s ‘The Bankers,’” Financial Times , June 23, 2011.

108 Ibid.

109 Thomas Jefferson, Letter to James Madison, September 6, 1789, http://press-pubs.uchicago.edu/founders/documents/v1ch2s23.html.

110 Thomas Jefferson quote revolution.

111 John F. Kennedy quote, violent revolution.

112 Robert Draper, Do Not Ask What Good We Do: Inside the U.S. House of Representatives (New York: Free Press, 2012).

113 Daily Kos member keepmehonest, “Eric Cantor, Paul Ryan & Kevin McCarthy: Plot to Sabotage US Economy with Frank Luntz,” DailyKos, June 8, 2012, http://www.dailykos.com/story/2012/06/08/1098434/-Eric-Cantor-Paul-Ryan-Kevin-McCarthy-Plot-To-Sabotage-US-Economy-with-Frank-Luntz.

114 CNBC, February 19, 2009.

115 http://tobaccocontrol.bmj.com/content/early/2013/02/07/tobaccocontrol-2012-050815.abstract.

116 Robert Draper, http://legacy.library.ucsf.edu/tid/vbi08b00/pdf.

117 Bob Davis, “Rule Breaker,” Wall Street Journal , July 16, 2004, http://mercatus.org/media_clipping/rule-breaker-washington-tiny-think-tank-wields-big-stick-regulation.

118 http://www.tampabay.com/news/business/billionaires-role-in-hiring-decisions-at-florida-state-university-raises/1168680.

119 Ibid.

120 Ben Dimiero, “LEAKED EMAIL: Fox Boss Caught Slanting News Reporting,” Media Matters for America, December 9, 2010, http://mediamatters.org/blog/2010/12/09/leaked-email-fox-boss-caught-slanting-news-repo/174090.

121 Ibid.

122 Media Matters Staff, “Luntz Births Another GOP Talking Point: It’s a ‘Government Option’ Not a ‘Public Option,’” MediaMatters for America, August 19, 2008, http://mediamatters.org/video/2009/08/19/luntz-births-another-gop-talking-point-its-a-go/153496.

123 Ben Dimiero, “FOXLEAKS: Fox Boss Ordered Staff to Cast Doubt on Climate Science,” Media Matters for America, December 15, 2010, http://mediamatters.org/blog/2010/12/15/foxleaks-fox-boss-ordered-staff-to-cast-doubt-o/174317.

124 “Fox News’ Chris Wallace: Is Obama Even President?” Los Angeles Times , January 20, 2009, http://latimesblogs.latimes.com/showtracker/2009/01/fox-news-chris.html.

125 “Why Obama Voted Against Roberts,” Wall Street Journal , June 2, 2009, http://online.wsj.com/article/SB124390047073474499.html.

126 Lee Epstein, William Landis, and Richard Posner, “How Business Fares in the Supreme Court,” http://www.minnesotalawreview.org/wp-content/uploads/2013/04/EpsteinLanderPosner_MLR.pdf.

127 http://www.spiegel.de/international/europe/greek-debt-crisis-how-goldman-sachs-helped-greece-to-mask-its-true-debt-a-676634.html.

128 http://www.youtube.com/watch?v=Ps5JL268ZQE.

129 http://www.reuters.com/article/2011/10/28/us-goldmansachs-lawsuit-idUSTRE79R4JE20111028.

130 http://www.cbsnews.com/8301-503544-162-20003526-503544.html.

131 Ross Douthat, “Conspiracies, Coups and Currencies,” New York Times , November 19, 2011.

132 http://dailyreckoning.com/goldman-bets-against-the-assets-it-sold-to-aig/.

133 http://www.huffingtonpost.com/2011/09/26/trader-to-bbc-goldman-sachs-goldman-sachs-rules-the-world-n_981658.html.

134 Interview with Rev. David Bullock, The Big Picture with Thom Hartmann , January 5, 2012.

135 Ibid.

136 http://www.mackinac.org/14756.

137 ALEC website, http://www.alec.org/about-alec/.

138 Interview with Mark Pocan, Radio Show, August 5, 2011.

139 Common Cause, http://www.commoncause.org/atf/cf/%7Bfb3c17e2-cdd1-4df6-92be-bd4429893665%7D/MONEYPOWERANDALEC.pdf.

140 ThinkProgress, http://thinkprogress.org/green/2011/08/05/288979/revealed-bp-is-top-funder-of-alec-annual-meeting-in-oil-soaked-louisiana/.

141 Mark Pocan, “Inside ALEC,” http://progressive.org/inside_alec.html.

142 Mark Pocan interview.

143 Ibid.

144 Common Cause, http://www.commonblog.com/2012/01/31/alec-exposed-for-24-hours/.

145 ALEC website, http://www.alec.org/about-alec/history/.

146 Mark Pocan radio interview.

147 Common Cause, http://www.commoncause.org/atf/cf/%7Bfb3c17e2-cdd1-4df6-92be-bd4429893665%7D/MONEYPOWERANDALEC.pdf.

148 Common Cause, http://www.commonblog.com/2011/08/03/have-you-met-alec-in-minnesota/.

149 The Uptake, http://www.theuptake.org/2012/02/11/mn-governor-vetos-alec-template-bills/.

150 Heritage Foundation, December 18, 2008, http://blog.heritage.org/2008/12/18/conservative-leader-paul-weyrich-dies-first-to-lead-heritage/.

151 Paul Weyrich, Youtube: RWW blog, August 1980, http://www.youtube.com/watch?v=pN7IB-d7Hfw&feature=player_embedded.

152 PBS, http://www.pbs.org/wgbh/pages/frontline/shows/fixers/reports/primer.html.

153 Roll Call , http://www.rollcall.com/issues/56_75/-202990-1.html.

154 http://www.huffingtonpost.com/2012/07/12/cash-hoarding-companies-spend-lend-economy_n_1666424.html.

155 http://online.wsj.com/article/SB10001424127887323894704578115180435402750.html.

156 http://online.wsj.com/article/SB10001424052702304724404577297610717362138.html.

157 http://www.youtube.com/watch?v=dxhyUAWPmGw.

158 New York Times , http://www.nytimes.com/2012/02/19/magazine/the-way-greeks-live-now.html?_r=1.

159 http://qz.com/28535/proof-that-austerity-measures-are-making-european-economies-worse-not-better/.

160 http://www.spiegel.de/international/europe/profiting-from-pain-europe-s-crisis-is-germany-s-blessing-a-808248.html.

161 Camilla Louise Lyngsby, “George Soros Blasts Germany for Its Role in Europe Crisis,” CNBC, March 1, 2013, http://www.cnbc.com/id/100512946.

162 Ibid.

163 Interview with Richard Wolff, The Big Picture with Thom Hartmann , September 27, 2012, http://www.youtube.com/watch?v=N5kS9btTY-Q.

164 http://www.bbc.co.uk/news/business-20322746.

165 James Kirkup, The Telegraph , Nov. 25, 2011, http://www.telegraph.co.uk/news/politics/8917077/Prepare-for-riots-in-euro-collapse-Foreign-Office-warns.html.

166 “Arthur Young’s Travels in France During 1787, 1788, 1789,” http://www.econlib.org/library/YPDBooks/Young/yngTF.html.

167 Gordon Chang, “China’s Property Sector, Just Before The Crash,” Forbes , March 3, 2013, http://www.forbes.com/sites/gordonchang/2013/03/03/chinas-property-sector-just-before-the-crash/.

168 http://www.tikkun.org/nextgen/a-conversation-with-jeremy-rifkin-on-the-third-industrial-revolution.

169 James Madison, from “Political Observations,” April 20, 1795, in Letters and Other Writings of James Madison, Volume IV (Forgotten Books, 2012), 491.

170 Barbara Starr, “Pentagon Reports Record Number of Suicides,” CNN, January 16, 2013, http://www.cnn.com/2013/01/15/us/military-suicides.

171 http://www.youtube.com/watch?v=0HTkEBIoxBA&feature=player_embedded.

172 http://www.economicpolicyjournal.com/2013/03/debt-in-america-details.html.

173 Berkshire Hathaway Inc, 2002 Annual Report, p. 15, http://www.berkshirehathaway.com/2002ar/2002ar.pdf.

174 Thomas Kostigan, “The $700 Trillion Elephant,” MarketWatch , March 6, 2009, http://www.marketwatch.com/story/the-700-trillion-elephant-room-theres?dist=TNMostRead.

175 http://gawker.com/the-next-housing-bubble-is-about-to-pop-all-over-you-510108728.

176 Thomas Jefferson, Letter to Spencer Roane, 1819, Library of Congress, http://www.loc.gov/exhibits/jefferson/137.html.

177 Thomas Jefferson, Letter to Charles Jarvis, September 28, 1820, http://www.yamaguchy.com/library/jefferson/jarvis.html.

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