The LaRouche Youth Movement (LYM) provoked defensive political doublespeak from Prime Minister Kevin Rudd at the Community Cabinet meeting in Emerald, Victoria on 19th May, when they questioned his calculated cover-up of his own Labor Party’s complicity in causing the collapse of the Australian economy.
LYM leader Aaron Isherwood asked the Prime Minister: “The measures you’re putting forward...don’t address the causality of what led to the recession in the first place, which is the fact that the banks are under a hell of a lot of debt with their derivatives, $14.2 trillion they’ve got tucked away in their different areas... This came [from] the Hawke-Keating era with the deregulation of the banking system, so I was wondering, would it not be better for the government to adopt a Jack Lang, John Curtin and Ben Chifley-style approach, and actually take on the banking system, put them through a bankruptcy reorganisation—instead of having to stimulate everyone else, actually deal with the banking system?”
Rudd protested in response that although he hadn’t addressed the cause in that meeting, he’d covered it in his March essay in The Monthly, adding:
- New rules that are needed must be global [more globalisation, less national sovereignty];
- The G-20 governments have handed the responsibility for new oversight to a Financial Stability Board comprised of private central bankers [the people who caused the crash];
- Australia’s major banks are fine, because all of the big four have AA credit ratings [against trillions of dollars in unpayable derivatives obligations, and their dependence on tens of billions of dollars in direct government bailouts, and $1 trillion in government guarantees].
(In his essay in The Monthly, Rudd spent 7,000 words rightly attacking “neo-liberalism” for causing the collapse, whilst omitting that it was the Hawke-Keating Labor government which instigated neo-liberalism in 1983, with the full support of John Howard and the Liberals.)
As long as political leaders like Rudd stick with the globalist ideology that caused the crisis, and use sleight-of-hand to get the people focusing merely on its symptoms, they are committing us to an economic breakdown disaster and a new global fascism, including brutal budget austerity like that being applied to the U.S. health care system by the gang of behaviourist economists dictating President Obama’s economic policies.
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