The Crash of 2016

The Crash of 2016

The Plot to Destroy America--and What We Can Do to Stop It

Book - 2013
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One of our most influential progressive voices tells the story of the hollowing of the American middle class and lays out the choices that we must make now to ensure that the dream of prosperity can live on for generations.
Publisher: New York :, Twelve,, 2013
Edition: First edition
ISBN: 9780446584838
Branch Call Number: ANF 330.973 HAR
Characteristics: xxviii, 291 pages ; 24 cm

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LRS1969 Feb 03, 2015

If you have real concerns about Income Inequality, Collapsing Middle Class, and potential economic depressions, then read this book!

If you have political bias and politically driven agendas, just throw in a 1/2-star rating with some "blah, blah, blah" and move on to a Paul Rand book.

John 8:32

Armdis Aug 29, 2014

Very impressive work that everybody should read. Here is a sample passage:

"The hallmark of plutocracy is monopoly. Fewer and fewer companies owning more and more wealth. Competition is destroyed by unrestrained growth of corporate interests. Big companies buy small companies over and over again, until there are no small businesses left. Private-equity firms take care of the rest, even harvesting small- and medium-sized businesses for a profit.
You could parachute from some great altitude over any part of America, into any American city, and you'd have no idea where you are. The great homogenization has happened; all the cities look the same. There are virtually no unique, regional. family-owned small businesses left; just transnational behemoths whose brands populate every mall, downtown, and suburb of this country".

GE has more than 50% of its workforce in other nations and yet GE's CEO, Jeffrey Immelt, was appointed to head President Obama's Economic Advisory Board to provide guidance on how to fix our economy.

j
john_doh17
May 13, 2014

Rehashed myth of middle class greatness. I empathize with his support of the middle class, but there is a huge elephant in the room that everyone ignores. While we laud how wonderful the middle class is consider that the US is 5% of the world population and yet uses 25% of the worlds resources (I have no source on that but it is widely quoted and probably at least in the ball park). You can't have a habitable planet and have a world wide middle class, and you can't have a continuing growth based economy and have a habitable planet. In one section the fact that the 99% is what drives consumption, not the 1% and that will lift the economy to grow again. It seems odd on the one hand that he condemns consumerism, and on the other pleads to keep the economy growing. That seems like a failure to connect the dots. I don't have an answer for our predicament (growth versus habitable planet), but unless there is some unknown scientific break through we can't have both. We may well have a crash (he side steps the bold date prediction in the title), but that may be the only thing to save the planet.

w
wind2448
Apr 24, 2014

If you're looking to understand what is coming, a MUCH better book would be The Death of Money by Jim Rickards.

This book, however, is a childishly simplistic and completely partisan piece of Bravo Sierra. With a herp and a derp, the author shows that he is completely and utterly (hopelessly?) trapped in the Left-Right paradigm, over and over again repeating the same mainstream media propaganda and programmed responses of Democrats good/Republicans bad, MSNBC good/Fox News bad and on and on. Basically, the real culprits such as the Federal Reserve, IMF, BIS, etc are never named but rather it's those scary Republicans who are to blame for the economy crashing after 8 years of Obama. The simple fact that early in the book he says that Keynesian economics works and that the gov should be printing MORE (!) money discredits him. The only benefit from reading this book is the surprising insight that there can be people this stupid and blind to what is really going on--Banks and corporations own BOTH political parties and will play one off the other.

s
StarGladiator
Dec 27, 2013

Reflect on the fact that the European Union has hit the top global banks with criminal penalties for criminal conspiracy to rig LIBOR rates, which had the potential to affect $600 TRILLION worth of derivatives contracts, of the SEC investigations of criminal conspiracies of Abacus CDO (Goldman Sachs & Paulson), Magnetar Capital, rigging of interest rate swap rates by the top banks, HSBC money laundering, rigging of gold and silver markets, and on and on, yet this reviewer refers to "conspiracy theories" -- guess he or she has never read a newspaper in their life? Having skimmed an advance copy of this, I both agree and disagree with the Publishers Weekly review: yes Hartmann's thesis on forgotten history is flimsy, if not self-serving, but negative, there is nothing "conspiracy theory" about the top banksters (Goldman Sachs, JPMorgan Chase, Morgan Stanley, et al.) and a global financial coup: the facts and SEC's impotent investigations clearly have defined this --- when it is factual and verifiable, nothing theoretical about it, unless the reviewer is illterate where English lexicon is concerned? The problem: Hartmann always subscribes to the "status quo" ignoring the obvious, that predatory monopolistic capitalism always ends up like this, nothing more than sociopathic scavengers and jackals, and only a complete transformation to economy democracy will work, but that would require a major revolution! [Hartmann is correct on the timeline: their endgame is around 2016-2017, as evidenced by A.L.E.C.'s push towards municipality destruction via financial weapons of mass destruction, usurious interest rate swaps coupled with manipulated LIBOR rates to disadvantage the bonds of cities, counties and states.] Goldman Sachs' latest purchase was Aramark Correctional Services, because a poor and homeless person is worth nothing, but when they become a prisoner in a private prison, they are worth $40,000 to $50,000 per year in revenues.

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