Thom Hartmann: Debtors Prisons have Returned to America

[thomhartmann]

Wiping out private debt would unleash enormous spending in our economy in ways we haven’t seen since the boom years of the 1950’s and 1960’s. The only reason it’s not seriously being considered by our lawmakers today is because a debt jubilee would diminish the profits of the banksters who thrive - and prey - on an indebted nation. But, in the not-to-distant future, as our economy continues to collapse under the weight of tens of trillions of dollars in private sector debt, our nation will be faced with an ultimate choice: Strike Debt or watch our economy completely collapse in a way that will make 1929 look like a picnic. Let’s make the right choice now!

The Big Picture with Thom Hartmann on RT TV & FSTV "live" 9pm and 11pm check www.thomhartmann.com/tv for local listings

[Gorp]

1. He makes a lot of sense in this clip. I just don't think most people will understand that thinking.

[DhhD]

2. We the Taxpayers bailed out the bank/banksters, now its way past time for them to provide

the help that we need to be bailed out using a tax jubilee. The Obama Administration expected the big banks to refinance and/or modify the home loans across America. Instead bankers closed themselves off from using that money to reinvest in the American economy like FDR made them do in the 1930s. Think of how we once had prosperity converting war machine factories in to the making of advancements that made America a world leader and power. A college education was almost free. Then we had greedy bastards to interfere and trickle off the earned money made through labor in to a world of market and commodity money used to steal all over the world. Who made it possible? Republicans and the takers in lawmaking.

Let us vote in the makers of prosperity for We the People.

[jjewell]

3. Excuse my ignorance...

... but if private sector debt is 38 trillion, and the proposal is for the government to pay off half, wouldn't that just put the government an additional 19 trillion dollars in debt?