(LPAC)--Lyndon LaRouche responded promptly to the House of Representatives' defeat of the Paulson bailout swindle, declaring this afternoon that ``I am on the case. Now, with the defeat of the bailout scheme, the way is open for my own three-step recovery plan, based on a bankruptcy reorganization of the hopelessly gone post-Bretton Woods speculative system. I shall present my action plan during my October 1, 2008 international webcast.'' Internet participants were able to submit questions to Mr. LaRouche, during the three-hour event, which has been archived with links now made available at

http://www.larouchepac.com/news/2008/10/01/larouche-webcast-now-more-ever-big-four.html

Posted at October 1, 2008 11:44 PM in response to Senators, Beware!

(LPAC)--Lyndon LaRouche responded promptly to the House of Representatives' defeat of the Paulson bailout swindle, declaring this afternoon that ``I am on the case. Now, with the defeat of the bailout scheme, the way is open for my own three-step recovery plan, based on a bankruptcy reorganization of the hopelessly gone post-Bretton Woods speculative system. I shall present my action plan during my October 1, 2008 international webcast.'' Internet participants were able to submit questions to Mr. LaRouche, during the three-hour event, which has been archived with links now made available at

http://www.larouchepac.com/news/2008/10/01/larouche-webcast-now-more-ever-big-four.html

Posted at October 1, 2008 10:45 PM in response to The Almost-Done Deal, and the Era of Angry Populism

Debt Junkies Must Go Cold Turkey
September 30, 2008 (LPAC)--Angry that the American people screwed up their bailout deal, the parasites are pulling out all the stops to make sure the bailout passes on the next vote. The problem is, they don't have as many stops to pull as they used to. They are getting desperate, because they are far more bankrupt than they have admitted. After all, you'd have to be pretty desperate to trot out President George W. Bush, perhaps the most despised and contemptible man in the country, to try to push the bill. Most people wouldn't buy a used car from that man, much less give him $700 billion. This is a save-the-parasites operation, pure and simple. The same financial system which destroyed the industrial might of America, and thus destroyed itself, is now demanding that it be saved. Why? So it can do us even more damage?

We are witnessing the Big Lie at work. The claim is being made that the bailout probably won't cost $700 billion, that it might even turn a profit in the end, because the assets will have value. Do you really believe that, if the banks thought there was profit to be had in these assets, they would offer to share that profit with the taxpayer? Not a chance. They know these assets are worthless, so they are doing what they always do, which is try to unload them on the suckers. The reality is that $700 billion is just a drop in the bucket compared to the trillions of dollars that will be required to make a significant difference to the banks. Paulson and Bernanke know this, the banks know this, and they are simply lying to the American people.

The real issue here, though, is not the cost of the plan, but that the plan will not work, and is just another in a string of incompetent actions by the people who created this disaster in the first place. The problem facing America is that the productive side of our economy has been destroyed by these idiotic economic policies, to the point that it can no longer support the mountain of debt which has been piled upon it. The bailout plan which the bankers are pushing as essential to save "Main Street," would simply pile more debt on top the mountain, while moving it from the books of the banks to the books of the government, and thus the taxpayers. It would do nothing, nothing at all, to solve the fundamental problem, which is the lack of productivity in the economy.

Our economy is addicted to debt, but we have reached the point where that addiction is killing us. The debt junkies in the banks and the big corporations are in withdrawal as their financial system dies, and are screaming for a fix. Just one more hit, they promise, and then we'll straighten out and kick the habit. But that one more dose will kill them, and us, because we, too, are addicted to debt. The more real incomes fall for the lower 80 percent of the population, the more people need to go into debt to survive, but we all know that is a dead end. We have to face the truth, that our economy is bankrupt, that the policy of trading production for debt has been a disaster, and that we must take our medicine. "Hi, my name is J.P. Morgan Chase, and I'm a debt addict."

If we continue down this slippery bailout slope, the result will be far different than the spin doctors promise. This ain't the yellow brick road, it's the path to Hell. What is waiting right around the corner is hyperinflation, and the complete disintegration of the global financial system, the global economy, and the United States. This is a nation-killing plan which will lead the world into economic collapse and a new Dark Age, as civilization itself crumbles. It must be stopped.

The response from the American people played a crucial role in defeating the bailout bill on the first vote, and now is the time to escalate. Bury your elected officials, especially your Congressmen, in a blizzard of demands that the bailout be stopped--out-pressure the bankers, and the whores of the Congressional leadership and the Bush Administration. We need to bury this once and for all.

But stopping the bailout is just the first step. Dramatic action is indeed required, and that starts with the honest admission that the system is finished, and that it must be put through bankruptcy reorganization. The debt junkies must go cold turkey. Lyndon LaRouche has laid out the plan for a real recovery, and we must first admit to ourselves that it is necessary, and then demand that our political leaders implement it. This is a time for courage, and action.

http://www.larouchepac.com/

Posted at September 30, 2008 11:44 PM in response to Why the next bailout bill should fail, too.

September 27 2008 (LPAC)--Lyndon LaRouche today reiterated that the trillion dollar taxpayers bailout scheme, being peddled by Hank Paulson, Barney Frank, Chris Dodd, et al. is doomed to fail. ``If the bailout is passed, this will not solve anything. It will trigger Weimar hyperinflation immediately, will bring down the whole banking system, and, contrary to Gordon Brown's fantasies, will not save the hopelessly bankrupt British banking system.''

LaRouche emphasized, ``However, as many people inside Washington and on Wall Street perfectly well know, there is a Plan B. Plan B is my three-step solution, which begins with bankruptcy reorganization, rather than hyperinflationary bailout. First, pass my Homeowners and Bank Protection Act (HBPA). This viable proposal has been out there since Sept. 2007, and everyone serious, who has studied it, knows it will work. Had Congress shown the guts to pass my HBPA in 2007, this crisis would have been averted, and we would have already been on the road to a new, viable international financial order.

``Second, Congress, in coordination with the Fed, must establish a two-tiered credit system. The Fed must immediately increase short-term rates to 4 percent, to send a clear signal that the U.S. government is behind a strong dollar. At the same time, Congress, using its Constitutional authority, must issue trillions of dollars in low-interest credit for earmarked infrastructure projects, in the vital interest of the nation. We need high-speed rail and maglev, nuclear power, water management, new hospitals, repairs on our bridges and roads. These kinds of projects should be financed through capital budgeting, authorized by Congress at 1-2 percent interest.''

LaRouche said, ``And at the same time, the United States, Russia, China and India must take the lead in convening a treaty conference to establish a new international financial system, based on fixed exchange rates, along the conceptual lines of what Franklin Roosevelt did in 1944 with the original Bretton Woods System. We can and must put the bankrupt current international financial system through bankruptcy reorganization, and launch, on a global scale, what I have proposed with the domestic capital investment in massive infrastructure.''

LaRouche noted that prominent Italian officials have voiced their support for the convening of such a New Bretton Woods conference, and Russian leaders, including President Medvedev and Prime Minister Putin, have voiced similar support, particularly if the United States takes the lead.

``So no one in good faith,'' LaRouche concluded, "can honestly claim that the current bailout scheme on the table of Paulson, Frank and Dodd is the only option. It is not the only option. It is the option of a dark age for civilization. My Plan B is available, is viable, and can and must be acted upon now. This week.''

Lyndon LaRouche emphasized that the actual breakdown which he had forecast on July 25, 2007 has already occurred, and as of now, there will be no return to the system that existed prior to September 2008. Only a new design of a system echoing the intentions of Franklin Roosevelt at the 1944 Bretton Woods conference could rescue the world's physical economy under present, post-August 2008 conditions.

To this end, LaRouche specified four necessary steps:

Step #1: Put the present international monetary system into bankruptcy reorganization.

Step #2: Create a new system, a credit system, rather than a monetary system, in the form of an appropriately modern version of President Franklin Roosevelt's intention for a Bretton Woods system.

Step #3: Organize the new system on the basis of an extended form of the 1648 Peace of Westphalia system, rather than a conflict-system. The IMF must be replaced by a treaty organization among participating sovereign nation-states with complementary long-term economic missions of scientific and related progress per-capita and per-square kilometer of territory.

Step #4: Define a common, long-term mission-orientation of two or more generations' span for increase of the productive powers of labor among nations generally.

Posted at September 28, 2008 7:52 PM in response to Financial Meltdown: The Day After

The biggest of the big lies on TPM is the question of Liberal hypocrisy and Progressive venom of toothless blabbermouth wonders, it is you and your wiki-pedophilia club crew style ilk who have been debunked. On the question of FDR, who as President acted(not by bullshitting about)as with the full intention of Alexander Hamilton in everything he did, in order to save the United States, this same intellectual tradition of the United States is, as with FDR, reliably reflected only in LaRouche today. All the politicians, pundits, so-called economists, and average citizens who rejected his warnings and advice. "What did you do about it? What was your position? What was your estimate? And what right do you have to advise somebody on what they should do now, on the basis of your record, as a forecaster, given your political judgment? What about your political judgment? Do you trust it, after what you did?
As LaRouche said: `Okay, we were right.' And anyone who is worth anything is one who can say, honestly, in some degree: `We were right, and you guys were wrong.' Nobody else is worth listening to. LaRouche concluded: "Okay, now that you guys have been proven wrong, I don't have to take your crap anymore. Now you listen to me, and improve your ways!"
As many people inside Washington and on Wall Street perfectly well know, there is a Plan B. Plan B is my three-step solution, which begins with bankruptcy reorganization, rather than hyperinflationary bailout. First, pass my Homeowners and Bank Protection Act (HBPA). This viable proposal has been out there since Sept. 2007, and everyone serious, who has studied it, knows it will work. Had Congress shown the guts to pass my HBPA in 2007, this crisis would have been averted, and we would have already been on the road to a new, viable international financial order.

``Second, Congress, in coordination with the Fed, must establish a two-tiered credit system. The Fed must immediately increase short-term rates to 4 percent, to send a clear signal that the U.S. government is behind a strong dollar. At the same time, Congress, using its Constitutional authority, must issue trillions of dollars in low-interest credit for earmarked infrastructure projects, in the vital interest of the nation. We need high-speed rail and maglev, nuclear power, water management, new hospitals, repairs on our bridges and roads. These kinds of projects should be financed through capital budgeting, authorized by Congress at 1-2 percent interest.''

LaRouche said, ``And at the same time, the United States, Russia, China and India must take the lead in convening a treaty conference to establish a new international financial system, based on fixed exchange rates, along the conceptual lines of what Franklin Roosevelt did in 1944 with the original Bretton Woods System. We can and must put the bankrupt current international financial system through bankruptcy reorganization, and launch, on a global scale, what I have proposed with the domestic capital investment in massive infrastructure.''

LaRouche noted that prominent Italian officials have voiced their support for the convening of such a New Bretton Woods conference, and Russian leaders, including President Medvedev and Prime Minister Putin, have voiced similar support, particularly if the United States takes the lead.

``So no one in good faith,'' LaRouche concluded, "can honestly claim that the current bailout scheme on the table of Paulson, Frank and Dodd is the only option. It is not the only option. It is the option of a dark age for civilization. My Plan B is available, is viable, and can and must be acted upon now. This week.''

Lyndon LaRouche will deliver an international webcast from Washington, D.C. on October 1, 2008, beginning at 1:00 p.m. EDT. It will be broadcast internationally with simultaneous translation in Spanish, German, Italian, French, and Russian.

Posted at September 28, 2008 7:22 PM in response to The Biggest of the Big Lies Debunked

LaRouche: There IS a Plan B!
September 27 2008 (LPAC)--Lyndon LaRouche today reiterated that the trillion dollar taxpayers bailout scheme, being peddled by Hank Paulson, Barney Frank, Chris Dodd, et al. is doomed to fail. ``If the bailout is passed, this will not solve anything. It will trigger Weimar hyperinflation immediately, will bring down the whole banking system, and, contrary to Gordon Brown's fantasies, will not save the hopelessly bankrupt British banking system.''

LaRouche emphasized, ``However, as many people inside Washington and on Wall Street perfectly well know, there is a Plan B. Plan B is my three-step solution, which begins with bankruptcy reorganization, rather than hyperinflationary bailout. First, pass my Homeowners and Bank Protection Act (HBPA). This viable proposal has been out there since Sept. 2007, and everyone serious, who has studied it, knows it will work. Had Congress shown the guts to pass my HBPA in 2007, this crisis would have been averted, and we would have already been on the road to a new, viable international financial order.

``Second, Congress, in coordination with the Fed, must establish a two-tiered credit system. The Fed must immediately increase short-term rates to 4 percent, to send a clear signal that the U.S. government is behind a strong dollar. At the same time, Congress, using its Constitutional authority, must issue trillions of dollars in low-interest credit for earmarked infrastructure projects, in the vital interest of the nation. We need high-speed rail and maglev, nuclear power, water management, new hospitals, repairs on our bridges and roads. These kinds of projects should be financed through capital budgeting, authorized by Congress at 1-2 percent interest.''

LaRouche said, ``And at the same time, the United States, Russia, China and India must take the lead in convening a treaty conference to establish a new international financial system, based on fixed exchange rates, along the conceptual lines of what Franklin Roosevelt did in 1944 with the original Bretton Woods System. We can and must put the bankrupt current international financial system through bankruptcy reorganization, and launch, on a global scale, what I have proposed with the domestic capital investment in massive infrastructure.''

LaRouche noted that prominent Italian officials have voiced their support for the convening of such a New Bretton Woods conference, and Russian leaders, including President Medvedev and Prime Minister Putin, have voiced similar support, particularly if the United States takes the lead.

``So no one in good faith,'' LaRouche concluded, "can honestly claim that the current bailout scheme on the table of Paulson, Frank and Dodd is the only option. It is not the only option. It is the option of a dark age for civilization. My Plan B is available, is viable, and can and must be acted upon now. This week.''

http://www.larouchepac.com/news/2008/09/27/larouche-there-plan-b.html

Posted at September 27, 2008 8:06 PM in response to Bailout Conditions: Ending Welfare as We Know it Now

You do not know your history of economics! The torch of FDR's intent is most alive, still today, in the able living and working mind of Lyndon LaRouche. You will never really know FDR, the same with Hamilton, unless you know LaRouche, which will take some work on your part to process real ideas.

The Lost Chance of 1989 Part I
http://www.larouchepac.com/static/2008/08/26/1989-video-high.html

The Lost Chance of 1989 : The Fall of the Wall - Video This is Part 2 of 2.
http://www.larouchepac.com/media/2008/09/25/lost-chance-1989-fall-wall-video-low.html

Posted at September 26, 2008 11:19 PM in response to The Biggest of the Big Lies Debunked

The Lost Chance of 1989 : The Fall of the Wall
This is Part 2 of 2.
http://www.larouchepac.com/media/2008/09/25/lost-chance-1989-fall-wall-video-low.html

A note of appreciation for what so many among you have done.

--------------------------------------------------------------------

You in Europe can probably stop worrying about the economy very soon. What the U.S. Presidency, the Congress, and the Presidential candidates have decided to do jointly, means that not only the U.S.A., but the economy of the world, is about to be plunged into the greatest collapse in all modern history. If that happens, you can be assured of one thing; the good news, then, would be that the cause for your present worries about the economy will soon be ended.

London, of course, has a plan to deal with this. It is the same plan presented by 1930s Canadian motion- picture actor Raymond Massey playing his role in the motion-picture version of H.G. Wells' "The Shape of Things to Come." In the plan by H.G. Wells, the world as a whole goes thoroughly to Hell, except for a handful of super-conspirators arriving from the vicinity of Saudi Arabia, to announce that they are taking over what has remained the world before the great war (which NATO presently threatens to start) has cut the size of the planet's population down about the size ;presently demanded by Britain's Prince Philip, and by Bertrand Russell before him.

The most important news is that it was you, the typical citizen of North America, or western and central Europe, will have made this thrilling development possible. You are about to enjoy the spectacle of more gore, than you have ever imagined possible, even in the most sensational modern motion-picture and other entertainments. It will be globalization beyond your wildest dreams, and lucky times for those of you with edible neighbors.

Do not blush; you deserve much of the credit for this wonderful spectacle of globalization. Don't be shy; none of this would have been possible without your indifference to what might have been done to prevent interference with the bringing on of this truly exciting state of presently onrushing world affairs.

Do not think that I do not appreciate what you have been careful not to do to prevent all this from happening. You deserve to know, in case that we are approaching the last moments of your part of the world, that without what you have done, or failed to do, none of these exciting developments could have happened.

Posted at September 26, 2008 10:09 PM in response to LaRouche: No Compromise, No Consensus, No Bailout!

Paulson Plan: A Mega Bailout For British Banks
September 26, 2008 (LPAC)--Just as Lyndon LaRouche has warned the mega bailout plan of U.S. reasury Secretary Hank Paulson is a big give away to bailout the Her Majesty's banking system. Today's Times of London, the mouthpiece of the British establishment, reports that the five top British banks could grab as much as 25 percent of Treasury Secretary Hank Paulson's 700 billion dollar mega bailout plan. British banks hold no less than $175 billion (95.3 billion pounds) of "distress assets".

The Times writes, "If the British banks tap the rescue fund, being set up by the U.S. Treasury and the Federal Reserve to the maximum, they could secure one quarter of the $700 billion being made available."

The breakdown of what these banks are holding is the following: HSBC, the flagship of the British Empire, holds 45 billion pounds; Barclays, 17.4 billion pounds; Royal Bank of Scotland, 16.2 billion pounds; HBOS, 13.3 billion pounds; Lloyds TSB, which now owns HBOS, 3.4 billion pounds.

Another confirmation that the British Banks are nothing more than Zombies is the fact that the Bank of England announced this morning that it will be pumping an addition 55 billion pounds into the financial system. Included is an offering to lend $30 billion in U.S. dollar funds for one week. The first such operation will be an auction for 40 billion pounds maturing on Thursday January 15, 2009, an obvious move to get Britain's Zombie banks past the last quarter. The BOE will be accepting mortgage backed securities as collateral. This operation is being coordinated with the European Central Bank, the Swiss Central Bank and the Federal Reserve. The Swiss are offering 9 billion dollars which the ECB is offering $35 billion.

http://www.larouchepac.com/news/2008/09/26/brown-u-s-strategize-bailout.html

Posted at September 26, 2008 10:01 PM in response to LaRouche Nails Bush Crowd for Bailing Out their Brutish Friends

LaRouche: No Compromise, No Consensus, No Bailout!
September 25, 2008 (LPAC)--On Wednesday, McCain suspended his campaign, asked that his Friday debate with Obama be postponed, and said that he was flying to Washington to deal with the financial crisis. Lyndon LaRouche's first comment was, "Makes sense." McCain observed correctly that there is no consensus behind the Bush-Paulson bailout package.

As of 5:00pm Wednesday evening, Obama was simply waffling. He said nothing. LaRouche remarked, "we know he's incompetent, dammit! There's no competence in him! Don't try to get a consensus." Later Wednesday evening, Obama accepted an invitation from Bush to come to Washington for Thursday White House meetings with Senate and House leaders, including McCain.

Lyndon LaRouche said: "What's going to be decisive is not this bullshit; what's going to be decisive is who gets up first and denounces this crap the loudest. This is not a matter to sit back and watch what happens: the question is who makes the loudest noise in protest against this swindle, and calls it a swindle. That's the key. The guy who calls it a swindle first, is ahead!"

Meanwhile, the legislative effort to push the bailout through had bogged down by Wednesday. The House Republicans had yet another meeting with Paulson, whereupon Rep. Ray LaHood of Illinois came out and told press, "This simply won't pass. Paulson recognizes that. We need more time to consider alternative ideas."

Both Reid and Pelosi are saying they need Republican votes; In desperation, Harry Reid announced that McCain would vote for the package; McCain repudiated this; he had made no such commitment.

On the reason for the legislative gridlock, Rep. Kanjorski of Pennsylvania was the clearest. He told Wednesday's House Financial Services committee hearing that he and other legislators had been comfortably working over Paulson's four-page ukase through the weekend, to the point where they had agreed on 42 pages of legislation by Sunday. They, on Monday, they were all knocked clear off their feet by the mass outrage of their constituents, who all totally despised it and wanted nothing whatsoever to do with it. Telephones have been ringing off the hook ever since, overwhelmingly negative.

The Paulson package has become radioactive.

Kanjorski and many others begged Paulson to scare the American people, through Wednesday's hearings, the way he had panicked the Congress on Thursday to accept the bailout package. Explain what sort of disaster will hit them if they don't do it! (Never mind what sort of disaster will hit them if they do!) Neither Paulson nor Bernanke could do that, so the hapless George W. Bush was sent out Wednesday night to make the case on television. What a stupid idea!

"What they're going for is global Weimar hyperinflation, and a complete collapse of the dollar," LaRouche said. "Do you want to destroy the United States the way Germany was destroyed in 1923? Then pass the bill, if you want to do that!"

"Don't try to achieve some compromise, bipartisan, or otherwise," he warned. "Don't go for a broad conference, or you'll get exactly what you don't want. Don't try to go for a broad discussion; don't try to get something opened up. If you want a proposal, be careful not to invite many people."

"We've got to be realistic; don't get opportunistic," LaRouche went on. "Don't let any of our members get opportunistic: `can't we do something; isn't there something democratic we can do?' Bullshit! This is not a democratic situation; this is a time where democracy is the worst factor you can get. You've got a democracy in the streets now, they want to kill these guys. That's the democracy I want to hear from," he said. "I don't want to hear from these so-called Democrats; I want to hear from the killers!

"Don't try to get a consensus," he reiterated, "you're going to get exactly the opposite of what you want. It's better to let the ranting and raving of the American people, who are enraged by this, continue to function."

Another offshoot of the legislative train-wreck: between Tuesday afternoon and Wednesday morning, Paulson was forced to make concessions he had earlier refused: Congressional oversight and limits to executive compensation for the parasites.

"This is not the time to compromise," LaRouche responded. "This is the time to make more demands on him! That's not enough; that's not good enough! Here's what our demand is: stop this shit! That's the demand! These guys are losing their nerve, on top of everything else! They're cowards; they can't think! Why do you call on people who can't think, to solve problems? Cut it out! A lot of our members will get on with this bullshit, because they don't know any better!

"We wait for the American people to convince these bastards that they are not going to put this thing through in any shape or form," he went on. "We want to force a straight bankruptcy of those institutions! Put them into formal bankruptcy; we're not going to bail them out! The American people are demanding, you stupid son-of-a-bitch, that they don't want a bailout. Just forget it! You're going to have to put these entities into bankruptcy reorganization. Period! That's the deal! Period! And we stick to that! We don't need any negotiation; we don't need a committee!

"The American people have said, in the main, and they've got this thing across to the Congress: `We don't want this shit,'" LaRouche added. "Now that's the way we'll keep it! `We're not going to take this shit.' Now, this is not going to pass, therefore, what are you bastards going to do, now that you know it's not going to work? You're going to have to cancel it! You're going to have to go back to the question of bankruptcy. Okay, we'll put this whole shit into bankruptcy. And that's the way we'll handle it, lawfully! This whole thing that's being proposed is highly questionable, and is probably implicitly unlawful; and if it's not unlawful, it's as immoral as Hell! And the American people are responding to the knowledge that this is as immoral as Hell!

"Here they've been swindled by these high-flying people, they've lost their jobs, they've lost their industries, they're losing everything, and now these bastards come along and want to dictate to the American people: you've got to give us this; you've got to give us that!

"I say, `screw you,'" he said. "And you keep it there, the message is "screw you!' The American people have spoken; they do not want a bailout. So there's no way that this bailout should be supported! No version, no modification, no bailout! All they get, the best they get, is they get a legitimate proceeding in bankruptcy of all these bankrupt entities. And the American people didn't cause this problem; it was the speculators! So, the speculators will have to eat shit, that's all! Nothing new! It's justice! That's the point.

"I'm going to kill anybody who starts talking about getting a consensus committee going," LaRouche concluded.

http://www.larouchepac.com/news/2008/09/25/larouche-no-compromise-no-consensus-no-bailout.html

Posted at September 25, 2008 11:21 PM in response to Wall Street Free Traders Become Wall Street Protectionists