Lyndon LaRouche dramatically
intervened on U.S.
President Barack Obama’s internationally
catastrophic economic
policy blunders, in an
international webcast address
on the highly unusual date of
Easter Saturday, April 11.
The renowned physical
economist and economic forecaster
bluntly assessed President
Obama’s mental weakness
for handling the economic crisis,
and declared that only the
emergence of a new leadership
from among the lower 80 per
cent income bracket of the population—
and not the ruling political
elite—will stop a chain
reaction economic breakdown
crisis from plunging humanity
into a new Dark Age.
LaRouche emphasised the
physical nature of the current
economic crisis: “Since the announcement
I delivered in an
international webcast on July
25, 2007,” he said, “...we have
been, not in a recession, not in
a mere depression, but in a general
global breakdown crisis of
the economy of the entire planet...
which will probably result
in ... a reduction of the population
of the planet from 6.5-
6.7 billion people today, to less
than 2 billion, in a short period
of time.”
The physical economic
breakdown crisis is manifested
in the greatest contraction
in world trade and global shipping
(currently) since the Great
Depression, the collapse of
Asia’s production giants China,
Japan, Thailand et al., and
the deindustrialisation and infrastructural
decay of formerly
great, industrial western economies
like Australia and the
United States.
However, instead of addressing
the physical economic
breakdown, Obama’s administration
is embracing the monetarist
ideas of the self-admitted
fascist John Maynard Keynes
to rescue Wall Street and the
City of London, by reinflating
the financial system.
On March 23, the day Australian
Prime Minister Kevin
Rudd arrived in Washington
in time to add his glowing
endorsement, Obama unveiled
his bank rescue plan, the Public
Private Partnership Investment
Program (PPPIP).
The brainchild of City of
London flunky, Assistant U.S.
Treasury Secretary Larry Summers,
the PPPIP will fork over
public money to bankrupt speculative
hedge funds, so they
can buy up “toxic assets” held
by the major banks. Purchasing
these bank “assets” (at wildly
inflated prices) will ostensibly
“solve the credit crunch”.
The PPPIP echoes the Macquarie
Bank-pioneered PPPs in
Australia, such as their Sydney
tollroad network, in which the
public is looted by private entities,
in “public-private partnership”.
At the London G-20 conference
a week or so later, after
being feted by the Queen
and Prince Philip, and lauded
by a gushing British press,
Obama gave his tacit endorsement
to the monetarist fantasies
of British Prime Minister
Gordon Brown, and Kevin
Rudd, to empower the International
Monetary Fund to issue
a de facto world currency
in the form of Special Drawing
Rights (SDRs), which
would be outside the control
of any sovereign national government.
Behavioural economics
Choosing his words carefully,
LaRouche said, “We have
to understand the President’s
limitations: that he seems very
bright, he seems very capable,
but a lot of matters which he
deals with, he hasn’t got a clue
of what he’s talking about.”
He charged that the President
is in the grip of a Satanic
cabal of economic advisers,
led by Larry Summers and Office
of Management and Budget
(OMB) head Peter Orszag, as
featured in the April 13 edition
of TIME magazine, and who advocate
the evil, mass-manipulation
techniques of “behavioural
economics”. (See box p.3)
“The control by this crowd
over the President’s mind must
be severed,” LaRouche insisted,
urging Obama to order
them: “Git! While you can
still do it!”
He reiterated his call for a
new Pecora Commission to
clean out Wall Street, and break
its corrupt hold on government
economic policy, which Larry
Summers personifies, and for
the immediate implementation
of his Homeowners and Bank
Protection Act 2007, to put the
whole financial system through
bankruptcy reorganisation.
Of most significance to people
the world over, LaRouche
forecast the emergence of a new
leadership from among the lower
80 per cent, as a consequence
of the failure of the “upper ranks
of the official political class” to
implement key measures like
LaRouche’s HBPA (and the
Citizens Electoral Council’s
HBPB—see article p.4), which
would have averted the crisis:
“There is a mood building
among the ratio of the population
which is in the lower 70 to
80 per cent of family-income
brackets, who are honest citizens
and have a native intelligence,
so that, in the proper process,
the natural quality of leadership
from within the population,
will rise ... to a quality of
leadership on the national level.”
(See pp. 2-3 for the webcast
transcript: “Seven delusions
about the economy”.)