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GoLeft TV

(3,910 posts)
Wed Aug 6, 2014, 02:37 PM Aug 2014

Papantonio: Financial Collapse Right Around The Corner?

Some of the top economic minds were warning regulators that the economy was heading towards a complete collapse before the meltdown of 2008. And today, some of those same folks are warning us that our lack of effort is leading us down the same path towards financial ruin.

Mike Papantonio talks about this with Thom Hartmann, progressive talk show host and author of the new book The Crash of 2016.

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Papantonio: Financial Collapse Right Around The Corner? (Original Post) GoLeft TV Aug 2014 OP
And add the political dimension if a Republican is elected in 2016 OutNow Aug 2014 #1
I'd like to add Half-Century Man Aug 2014 #2
I agree delete the off shore tax incentive polynomial Aug 2014 #3

OutNow

(864 posts)
1. And add the political dimension if a Republican is elected in 2016
Wed Aug 6, 2014, 03:25 PM
Aug 2014

I generally agree with Thom Hartman's thesis about the banking system, etc. If a Republican is elected in 2016, and even worse a Republican that is aligned with the tea party, our country will never recover. If a banking / liquidity crisis hits, a Republican will react just like Hoover did in 1929 by cutting government spending, thus causing a worsening of demand that causes more people to lose their job, etc. in a downward spiral. A Democrat will at least try to mitigate the effects of the crash in a similar fashion to what they did as soon as Obama was sworn in.

The best case scenario, which won't happen unfortunately, is for a real progressive government that will focus on saving the people rather than saving the banks ala FDRs policies. A real progressive agenda would make government programs the employer of last resort rather than relying on the private sector to create more jobs. IOW, a Republican administration in 2016 will destroy the country, a DLC-type administration would follow policies similar to what the President did in 2008. What we really need is Bernie Sanders or someone like him to be elected in 2016.

Half-Century Man

(5,279 posts)
2. I'd like to add
Wed Aug 6, 2014, 04:07 PM
Aug 2014

I think we are reaching the point in economic disparity where we can cannot recover by just ending the advantages to the rich (both living and legal entities) that were built into the system during the last fifty years (since Eisenhower created offshore tax breaks to stimulate investment oversea to aid in the recovery from WWII).

We progressives have got to find a way to market our ideas more effectively. We have to find a venue to do so as well. This is why net neutrality is so fucking important. It literally is the last mass media not firmly under corporate control.

polynomial

(750 posts)
3. I agree delete the off shore tax incentive
Wed Aug 6, 2014, 04:43 PM
Aug 2014

Always been a fan of Papantonio and Hartmann, they always add to what mainstream media will not even consider in news telecasting.

From my view, nearing retirement as a boomer, like millions of others are about to start cashing in, and looking for health care and whatever it takes to sustain a living.

Now to become the largest and greatest consumer society ever documented in history to live austere, given to exacting standards of discipline and self-restraint. What really stands out will be the assertive effort by many to look deep into how America has been governed and join the lobbyist to get what we the people have been cheated out of for decades.

Moreover, new technology is going to come into play, new kinds of consumer applications that will be able to check the quality of goods purchased or personal health care just as we have personal computers. Wall Street will eventually change, so will the Federal Reserve.

No more secrets. Imagine anyone to be able to trade stocks, you don’t have to have a seat on Wall Street, just a lawyer and or a notary.

Maybe even mandatory to have a debit card rather than a credit card. If every tax payer had a debit card a recession can be controlled in the proper way that it should.

Open observations Congressional, Senate, and Presidential spending online, all bypassing the daily news media all spending publish to the public, all spending in open media knowledge.

Banking was designed to make money secure, however, with nonsense like life lock or identity theft things have to be more secure in banking.

If not, this country won’t survive as a free market. There is secure banking RAS security that can give the consumer cryptic keys.

The banks just won’t spend the money to tighten up the banking game we now have in America. Life lock is a scheme to bilk the consumer.

All the political and business people know this.

Good reason for the trillion dollar secret deals now because in the future those who bilked the treasury and Federal Reserve will not get the chance again.

They will be targeted to be taxed anyway. This whole era will be flagged for the dishonest secret money loans to the one percent.

Anyone dodging taxes via the Cayman Islands should be condemned and banished from holding political office, further prevented from giving money to candidates. Make it a law.

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