tom is also a new york times bestselling author is most recent books the crash of two thousand and sixteen in the book you say that the country's in the midst of an economic implosion the great depression seems small are you an economist still lives is come from. i'm a reporter earlier and and a commentator and been around the block a few times over in a couple of books about economics but i'm not credentialed as an economist but i think that. pretty much everybody there's a growing consensus i think pretty much everybody has figured out that our economy has been rigged it's been gamed it it really got taken apart badly in the late ninety's nine hundred ninety nine and two thousand with gramley. which blew up the glass steagall act with the commodity futures modernization act both of which were promoted at the request of ken lay of enron and allowed the

ultimately the banks to get into this derivative business and all these other things these to these too big to fail banks so and you know it crashed in two thousand and seven and instead of fixing it we just kind of threw bubble gum and bailing wire out it and that's why i suggest that it's going to that that crash has not ended yet and in fact it's going to get even worse because we're reinflating the bubble but we're not fixing the structure and when it does crash i pick twenty sixteen because i think. the president nobody wants to be you know crash to happen on their watch and so the fed the white house and everybody you know they're going to do everything they can to hold that off as long as they can so two thousand and sixteen looks likely to me but george bush was trying to hold it off until november of two thousand and eight and he was off by about nine months so he was not successful even. you said it's the other late nineteen ninety so that would make clinton bush and obama a one thousand nine hundred ninety bid clinton. signed the legislation both those

pieces of legislation absolutely it even goes beyond back beyond that it in a way it started with the reagan revolution it when you drop if you look at the history of the united states or any major industrial power when the top tax rate on people making over three million dollars a year on the income over three million dollars a year when the top tax rate is above fifty percent then you see a fairly stable economy with no boom or bust to it and that's what we had in the united states from the one nine hundred thirty s. up until the up until the one nine hundred eighty s. one nine hundred ninety s. and but when it drops below that fifty percent then all this hot money starts flooding in at the top which starts the whole gambling can see own thing and that's what happened after the reagan tax cuts then we got the the dot com bubble and then that burst in the housing bubble and that burst the credit bubble and that burst and now we're reinflating into the stock market bubble. i was under the impression though that things are getting better unemployment is down the figures are down the

economy seems to be booming car business is a pretty good year couple of slips with pretty good. home drugs is in southern california booming where was the blood well that's how it always looks when a bubble is reinflating and the way that you know that it's a bubble rather than genuine healthy growth in the economy is that first of all the g.d.p. itself on average is not growing that much but secondly i'm much more important indicator is that the average income of working people is not growing substantially in fact it's been flat since one thousand nine hundred you know this entire era of reaganomics this is the supply side experiment has been demonstrated not to work we really in a classical economics as defined by adam smith and seven hundred seventy six and wealth of nations in that kind of updated by david ricardo and eighteen zero nine and with on labor and on can capital on profits. has always suggested that demand is what drives an economy that an economy is driven from the bottom up people

wanting to buy things they go into the store and they sell or buy the shopkeeper then has to buy it from their manufacturers the manufacturers have to hire people to make it and those people then get a paycheck and they go into the stores and buy things that's how the economy works and we have this strange idea in the one nine hundred eighty s. that we could reverse that and that if we just threw things into the stores and put lots and lots of money into the hands of billionaires that that money would somehow trickle down and things in the stores would cause people to want to buy them and now at thirty three years later we see that that's really not how it works and until we go back to a demand side economy we're going to be at risk. you hold the koch brothers partially responsible that was well i sigh in the book in the crash of twenty sixteen we talk about how in one nine hundred seventy one lewis powell was then a lawyer for the tobacco industry and two things that happened of great consequence in the decade before that rachel carlson's book silent spring had come out and created a huge movement of people who were concerned about pesticides in the quality of

food and things and ralph nader's book on safe at any speed had come out and had created a consumer movement that was a backlash against the automobile industry and just you know the idea that people people's safety was of less consequence than profits and pall saw this come into the tobacco industry was a tobacco lawyer and so he wrote a memo to his best friend eugene sindoor who was a neighbor has in fact who was the chairman or head of the of the u.s. chamber of commerce which had historically always been a political or just been about business and said we've got to get into this politics business and not just the politics business we need to get we need to get our people in the courts we need to get our we need to create think tanks to influence public opinion when you get our people in the schools the colleges and you know teaching our point of view you know we are being trashed by carlson and nader any color nater specifically in the in the memo and and we've got to fight back and that was the birth of

a lot of the out of that came the heritage foundation the cato institute and and you know the the you know a whole bunch of these things these institutions now that have been pushing for this what's called liberalization the europeans would say to our economy good research you have great success is a review of don't show host what made you join our t. want to come to the world of the it was it looked like a lot of fun we're still i'm still doing the radio show and. the you know if we we worked out an agreement where i could have complete editorial integrity and independence which was nice and r.t. has a heck of a throw around the world so i'm very pleased to be here. what made you switch from republican to. liberal i. you know when i was my father was always a republican activist and in fact my father is probably the biggest inspiration for

me and for my my show on my show i debate both on the radio and t.v. shows i debate conservatives constantly and because my dad was a lifelong republican activist when he died in two thousand and six i was sitting right next to him and i looked across. just past him at the wall next to him and there were his two favorite pictures me shaking hands of pope john paul the second and george w. bush on the u.s.s. abraham lincoln declaring mission accomplished. my dad and i always argued politics and when i was thirteen in one thousand nine hundred sixty four i went door to door with my dad for barry goldwater and three years later i was i was sixteen i was out in east lansing to miss you getting tear gassed in the streets and in an anti vietnam war protest i had gone from the republicans to the to be asked yes it. was similar with hillary clinton shared goal of the republicans in the what what change do i think probably the vietnam war more than anything else that was the moment i

mean when you when you realize that your government has lied to you and that they're even trying to kill you arguably i mean a number of my friends died in vietnam that's a pretty big wake up for a sixteen seventeen year old. you have a segment on the show gold the lone liberal rumble you do insidious over alone many of the limo is what it is is that i get to conservatives on and i argue with them for a half hour on a variety of topics with metaphorically one hand tied behind my back i'm the lone liberal they're the two conservatives so it's like i could take on two at a time there are many many liberals disappointed with the president one of them well yes and no i recognize the limitations he's operating under you know the night that he was inaugurated i was here in d.c. at one of the inaugural balls the one here union square and station and while he and michelle were dancing there was

a group of people who were meeting over the caucus room restaurant. conspiring basically to bring down his presidency i interviewed newt gingrich about this on on my program and he said yeah yeah that's what we did and pete sessions came out of that and said you know we're going to be like the taliban we're going to you know develop and that was his phrase to develop an insurgency so outside of a few months i think was about eleven months from the time. ted kennedy died until scott brown was sworn in he had veto proof or a filibuster proof senate during that period time but out of that he really has not had the ability to get things through the senate their way that he would like to so he's been operating a very constrained universe on the other hand i as a as a progressive i would really like to see him speaking out more loudly using the power of the bully pulpit but you know i it's hard to second guess the president when you've never been a president you know i mean. and i know but on the other issues will progress is

a very disappointed on immigration and the hawkish added to the internationally to seems to be continuing the policies of bush more so well i would disagree i he ended the war in iraq he's dialing by. the war in afghanistan he has been successful in part with the help of president putin in not having a war in syria and getting rid of more than eighty percent almost ninety percent of their chemical weapons so far and they're heading toward one hundred percent he's been successful in not having a war with iran. you know he's got other challenges the situation with china the situation with ukraine there's situations all around the world that president it has been very cautious about actually compared to you know the john mccain approach or the neo conservative approach so i would not say that he's been extending bush's policies are not pleased with the drone strikes i think there should be due process and i think that they're all about lee going to

harm us more than they're doing good but on the other hand he's also doubt that back radically from when bush left office so. the book is that crash of twenty sixteen if that happens when does it happen does it happen for the election or after the election who are the nominees of the time it's a good question my guess is that the nominees are going to be bush and clinton that it's going to be jeb bush versus hillary clinton but that's just a wild guess. so my wild guess based on what i'm seen in terms of when the crash is going to happen it could literally happen tomorrow all the conditions are there for it to happen our economy is being held together by rubber bands i if it if the white house in the fed are successful it will happen after the elections in november of two thousand and sixteen like you said this is what george bush was trying to make happen was trying to use trying to hold it off just desperately

trying to hold it off until after the elections but it blew up in his face about six or seven months early there just sometimes you just can't as i try to try to shovel ocean you know with with a with a spoon tonbridge dog a meal in florida seeing you one way but didn't want to thank you larry it's great talking to you too and thanks so much for having. and your program thanks to tom hartman the new book the crash of twenty six steam just ahead the smog killer of those perinatal matthew martin corporate media structure i do not see anything good with it in terms of news right now the entertainment profit making industry what this is where the public is supposed to make informed decisions without the journalism they're not going to be able. to pay. for it's probably the most complex and difficult human activity.

for. all of us are still locked up. in the phenomenon of friendly fire probably extends back to the invention of gunpowder. just kill a bunch of people who don't know one thing on their premises there are a us people. reading. this some of them shoots my brother in the leg not intentionally because of it because it was nine times four in the morning even the best even the best soldiers. are going to make mistakes and this is this whole idea of brotherhood author. and camaraderie in this sense it was in this context it has absolutely no place.

as a new physician i swear to abide by the hippocratic oath. to the best of my ability and judgment. i will prescribe for the. good of my patients. i will not give deadly doses to anybody. or advise others to do so. i will never do harm to the. doctors of the docs on. but. i would like to know that you know the price is the only industry specifically mentioned in the constitution and. that's because a free and open for us is critical to our democracy albus. in fact the single biggest threat facing our nation today is the clockwork speaks ill

of our government and our craft since we've been hijacked like a handful of transnational corporations that will profit by destroying what our founding fathers once so that's my job mark it on this show we reveal the big picture of what's actually going on in the world we go beyond identifying. rational debate real discussion critical issues facing yeah i feel ready to join the movement then walk if. i. we welcome erin eight and abby martin two of the terrific oh son the art team network to the young and beautiful those that work every day to host movie buzz in the world of finance and abby martin has her own talk show it's called breaking the set let's start with

erin first how did you come to r t i came charging recently actually i've been here less than a year and one of the things that brought me here is the fact that this this is an organization that really kind of allows you to take the time and the depth that some stories deserve and that you don't really find or have the luxury of taking out other mainstream media and. i have i started my career actually overseas that is pm in singapore that's where i first edwardians i come from sports initially and did a pivot engineers back here in the states i worked with news corp for a while which is a big departure from archie with their start up the daily then. i went and worked for a turkish network abreu today on the morning show and now i am here to finance and what i love at r.t. told me how the show works what it would i was so well as boom bust it's going to give you a different perspective you can watch a bloomberg you can watch and you can kind of get the same stuff and you know gold

rallies this is this up this down and you can have jim cramer no problem with him but you can have him yell at you all day and then at four thirty have him yell at you some more or alternatively you can tune into a boom bust and opposed to just telling you that gold rally like on monday we had a terrific author matthew hart who was the best sign author of diamond and book gold he went into the history of gold and why gold is doing what it's doing today and and it's unprecedented some of the numbers and it's a the ability to tell you about what's going on in the world of finance and economics without telling you just what rally because you need more information so i was exactly so back to you. you're covering the occupy oakland crackdown in my backyard you know going in and i was running a website called media roots it was a grassroots media organization that had proliferated off of my antiwar activism for nearly a decade and an r t was there and they were nominated for an emmy for their amazing

coverage of occupy and so i had linked up with our team to begin their liaison from oakland to r.t. and then came here for an interview and never thought that i'd be living in d.c. but it was amazing to be here how long ago two years was. breaking the work breaking the break thing then. broken televisions the second time breaking a set is a show that's cutting through the pre-established narrative that's coming through in undermining the conventional wisdom that we here in the mainstream political and media establishment we know that the media corporate controlled media is controlled by about five or six giant corporate conglomerates and so a break in the sense of doing something that's it. really allowed on any other platform we're criticizing the corporatocracy and also calling out the players behind the games that are really perpetuating these two party dictatorship which is what i like to call it so what is not being seen when for example with this corporate structure you discuss what's what's not discussed criticism of corporations criticism of both enormous lobbying going into these policies bills

that are essentially written by lobbyists and i think the number is over sixty percent just straight written by these lobbyists i mean the way i retired us on c.n.n. i want to be i like the vocal rollercoaster yes you hear it discussed that just had the rhino came out and you know you hear it discussed but did you know how much of it did you get your ship is doesn't just come in omitting the story it comes in framing it comes in back page and so you can hear things discussed but to what extent are they discussing to what framing and context it's got do you have guests yes there are your own. you will highlight it out of the mainstream media's failure to discuss the plus side of course there's got to be something good is a pretty good country so good something good about corporate america i mean if it's bad other peoples around smiling. well i think you'd see a lot of a lot of poverty and inequality out almost all time greats since the great depression so i think that that's kind of a farce but i mean d.c.

of course is pretty much out affected by what's going on in the rest of the country corporate media structure i do not see anything good with it in terms of news giving right now it's an entertainment profit making industry so if you're looking to get news you're going to get a lot of superficiality and a lot of exaggerated claims that you're not going to get with the alternate media sources that we see flourishing to counter you need and all you need mean around air and the revenue they could legally live and the news that determine there's a decade ago that they can legally lie about the news so how can we trust an apparatus that can legally lie to you and you know you do things that you think they should have or do you say no leave in what they say you don't believe you believe. no i don't think that they sit down and connive hey what are we not going to cover we're going to cover we've heard you know if you've watched out fox you know that it kind of goes different with different organizations but i think that a lot of it. right exactly but in the establishment democratic party i'm talking about radical politics the corporate media presents you with two options it's a false dichotomy i say because i don't agree with the democratic party now agree

with the republican party that they're perpetuating the same policies that are the stabilizing this country you know socialist i would not call myself a socialist because i don't want to put myself in a box because once you do that people turn you off and i think that you can pick a lot of good things from a lot of different ideologies and reinvent the wheel. with the system extremely is there freedom you are doing. well i think that there is a lot of freedoms that we're seeing denied to muslims americans i think there's a lot of freedom there is in denied to journalists and you know being detained for ten hours at heathrow airport if you're just the partner of someone who broke these documents having the guard in editor in chief being called to testify and parliament to be charge of the terrorism laws i mean these are things that we are seeing tonight and i don't want to get to the point where i'm denied of freedom because i'm doing my job don't you both go over and change all things i do logically. we changed a lot on the basis of what you have of the searching and that is fear and fear fear

leads people to do things when you fearful don't you can and govern without them as is on fear. there and i think we had all the capabilities before nine eleven to prevent the attacks and i don't think we need any more surveillance state that question example that would boggle the mind someone who's totally supports freedom journalism at all my years is the first stop and frisk i aboard stop in the first aboard i think it's terrible if you don't me it cuts crime eighty percent you create for me a dilemma because i don't want my children to be hampered on the street what do i do i think that that's a false correlation i don't know i haven't seen this to six of what else was happening at that point to point to that stop and frisk caused a decrease in crime i think that's going to get that they're going are just that are or no i don't know i mean i need to say i mean yes well let's say it is correct let's say hypothetically that you put yourself it's a moral quandary i so it's someone i know as

a journalist i think that we have the luxury of not needing to figure that out but asking the questions necessary is that a true step finding the actual statistics seen if it actually works and letting the public decide what that what they stand and i also just would never i would never agree to something that would undermine someone else's liberty and protection and civil liberties of someone's walking on the street if they are african-american and if african american is citizen commit more crime which is also complete b.s. if you look at just the roots of inequality and violence and where it stems from so that's a superficial argument itself but if you're just like you know if you can correlate those two things i still would not support undermining someone's personal sovereignty to say that stop and search them on the street even if it might. if there were no ones in the line if someone black white muslim whatever is following you pretty young lady down the street leave that night walking behind you looking a little suspicious when the cop pulls up he. you will not be angry at the top false i want you to read my my husband is next again and we have sat at airport

check lines longer than most people and we have been taken into back rooms and i think that it's it's disgusting and but again i like being a journalist and being able to look at statistics and give those to the public because i know this is the quandary this is again because ari if you start if the guy really actually stopped the guy would be alive yes this is true and that's that's the dilemma but we aren't we aren't lawmakers all of us but we are here to inform the public who are set up to watch people to legislate like we have the ability to do that so the biggest problem that i have is you know going after journalists because this is like this is where the public is supposed to make informed decisions and without without journalism without true journalism they're not going to be able to do you see change opening i think change is happening is roughly a revolution of not only consciousness but of in the media spectrum we're seeing

the dinosaur media die out and we're seeing this renaissance of citizen journalism happening all over the world independent media seizing upon all these platforms that are given to you social media it's amazing and i'm sure that evolution is it's a revolution of the mind it's a revolution of ideas and consciousness so the rest of you to do if you're an artist yes well guess what do you think it started as a catharsis for my political intensity. i don't want to say thank you pain due to full thing is that i can normally articulate. is actually very good at a lot of the machine or a lot of you know it's i start off just purely abstract painting and i got into collage and i like to incorporate in beautiful aspects of the world on earth and the reality is i perceive it in an articulate and then to images single yes are you seeing someone you know. would you be hard to deal with and. i think i'm a strong. i think for a good man she went. person. i mean.

did you conservative. in the morning you know liberal for that matter do you know you didn't you know very little like living in new york i would love to live in that show you would like to leave washington and go live and i would love to but my boss is not as you know many. of you or. do. i like washington i'm from new york so it's home and i miss it but i think that d.c. is an interesting city and i'm happy to be here now to again if anyone wants. to know i do know what is yours with. going to actually work in finance not aside from being held and we do the research and find the new works in finance he does he he sadly works for lehman brothers during the collapse so you know why it's. everything i hate but i think that it really got to. talk about insiders it's truly

i think this is again why i love my job and why i love journalism because you don't being angry should be confused with being passionate and truly looking at both sides and seen the full spectrum and then coming to a conclusion based on facts and not seen in other places call those things people might have an image of r t you were told what to do no no no i think the image of our two is just people who are scared to address the facts because it's an easy way to blanket lee dismiss an entire network and generalize an entire body of work and not a research actually it's a very successful effort and that's why you see the smear campaign for people who are too scared to debate what you're idling talking about it like you know it's a success when you chose it for a reason and you've had some success in your career it draws people of their lives . a living legend so we had i really think anybody could vote it takes everyone to the top but i wish you luck finding someone who's not. i'm not sure we really and

would watch people very then give me one stock tip i guess never bought. five dollars by gold my gold now i'll give you the information you make the decisions on the last word on a group buy low so there you go out there and aid and everybody will be. on merit in the financial world. it's not stopping c.d.'s only taking the band to credit. but it's in life there are there are fucked .

seriously. basis try to play. a polish going to continue to give the title or destroy the teaching everybody. cut me. laughs no weapons of my own life but hey. let's just stick this setting all time. these cases to the most elite limits. sometimes for nothing which. is silly and it simple. it's not just the story can still be just if you see a stage eight looking to test but speech was itself. this. leg.

this is what we do we kill people and break things we can see something is simple as people playing a soccer game we can see individual players and if you see the ball. you can almost see is facial expression you can see is a mouth open and crying out. maybe cursed us or maybe he asked. for forgiveness for. there must be near certainty that no civilians will be killed or injured. i'm abby martin the stories we cover here are not going to hear in iraq some are fixed or the extra headlights same time there's

a reason they don't want to do now that are important and that we should all be completely outraged and let's break the set. by now it's nine pm here in moscow this is r.t. international tonight more residential areas come under fire in east ukraine where people say they're living in constant fear of shelling even though the president promised not to in danger live. reporting to it israeli police fired tear gas on palestinian protesters venting their anger at what they say was a revenge killing of a teenager as thousands flock to east jerusalem for his funeral. back to iraq the top general in the united states says the country may actually launch an assault on isis insurgents.