Thom Hartmann: The Financial Bomb Can Destroy Your Savings & Capitalism

Prof. Wolff joins Thom Hartmann to discuss how the business sector has borrowed so much money at low rates of interest, among them crooks and speculators who borrowed for dubious investments. 

Now, businesses are being found-out and there are going to be tens of thousands of business bankruptcies – and say by-bye to your job.

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  • Pasqual DiGesu
    commented 2020-06-29 10:24:34 -0400
    80% of stock shares are owned by 20% of the people or the top wealthy of our society. A stock market crash would only hurt 20% of the shareholders who the entire middle class represents in all its investment forms, 401K’s etc.. During a crash the wealthy are enabled to massive loans and bailouts, which can ultimately be deferred with self imposed bankruptcy or transfers of wealth. They have established a systemic reaction developed to counter any possibility so that it would always result in a profit,, in recent history, “massive profits”. For security, the wall street financial powers or Frankenstein’s have now gone beyond “diversified investments”. They now own the market, national budget, legislature and governments, state and federal.

    European Federal banks which are stronger than privately owned banks are offering up to 4% interest on CD’s despite unemployment levels. This and the provision of a strong currency, medical, protection of property, middle class social stability and overall cultural luxuries are appealing to me.