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Obama's "Pound of Flesh''!:

May 26, 2009, 4:50PM

- ACT NOW! -
by Lyndon H. LaRouche, Jr.
May 24, 2009

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Since his visit to hug the wicked little Queen in London, President Barack Obama no longer pretends to be the person he only seemed to be, briefly, during that preceding, initial, short "honeymoon" phase of his Presidency. To a certain degree, I can account for certain exact evidence of his current behavior, both as to its character, and to its, presently threatened, horrid outcome for the world, if that pattern is allowed to continue without a sweeping reversal, very soon, of every policy he has put forward since that pilgrimage to worship at the shrine of imperial Buckingham Palace. The real story is the terrible things which will take over the world, things which might seem to strike sooner than you could say "Adolf Hitler," unless certain very specific, and very radical changes which I propose are made very soon.
Under these present circumstances, when I must dare to tell the truth about this matter, no matter what, I have an awesome, relatively unique moral responsibility to tell you the following.

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As I forewarned, in my international webcast of July 25, 2007, the entire planet has been gripped by what has been, exactly as I had warned then, the uninterrupted process of unfolding of a planet-wide general physical-economic breakdown-crisis. I not only delivered the warning, but specified the immediate actions needed to avert an accelerating process of a general economic breakdown-crisis.
Those who know the relevant facts of modern history since the death of President Franklin Roosevelt, will recall that my first forecast, which warned, in mid-1956, of a severe recession to be expected to hit during the interval of February-March 1957, was followed by a general warning, uttered during 1959-60, of a potential slide into a breakdown of the fixed-exchange-rate system beginning the second half of the 1960s, of the October 1987 recession; of an "economic mud-slide" to spoil President George H.W. Bush's re-election-campaign; of the breakdown of the system to hit about the decennial turn of 1999-2001; and, my January 3, 2001 forecast of a major terrorist assault against the U.S.A. to be expected that year. And, so on. Every forecast development which I have made during the 1956-2007 interval, has always come on within the indicated time-frame of the forecast.
It is most notable, and of the greatest relevance to what I state in this present report, that the reasons for my relatively unique success as a forecaster, lies not in my presumed genius, but in the incompetence of what could be considered my leading rivals. I know that statistical forecasting by monetarists is a profession designed to lure incompetents into their own richly deserved contempt. My forecasts were premised on the role of choices of policy in bringing on the catastrophes which strike down the reputations of the devotees of statistical forecasting. It is reigning policy, not statistics, which bring on all of the relatively more notable economic catastrophes in modern history.
Since then, I have been proven right beyond any sane man's doubt, when all my putative rivals from among the otherwise sane and reasonably literate, who had opposed me, have been shown to have been terribly wrong. Therefore, one might think that a President Barack Obama would have been both intelligent enough, and also sane enough, to have avoided coming into conflict with my forewarnings. He has clearly failed, as President, so far, on that account. If he dislikes what I have said, and I have little reason to doubt that he does, he has no one as much as himself, to blame.
This pattern of failures of this same time, from around the world, has been the case not only inside our U.S.A. since the death of President Franklin D. Roosevelt, globally; it has now been demonstrated, again, by a pattern of foolish conduct by President Barack Obama and his administration: a present pattern of bad conduct which vacillates within the bounds of a type of health-care and other specific types of current economic behavior, as by Peter Orszag, Larry Summers, and Ezekiel Emanuel, which the Nuremberg trials of the Nazis had condemned as "crimes against humanity."
What I have just said, is not a subject for classification as either fair or unfair comment; it is the only judgment which is both within the realm of truth, sanity, and decency, alike; it is the only fit opinion for those of reasonable sanity and intelligence who have the wit, guts, and honesty to state things as they are.
The fact is, that with the election of President Obama, we, and the world at large, have been swindled by the highest-priced, bought-and-paid-for Presidential election in modern world history. In a large degree, it has proved to have been "the best Presidency which the combination of international drug-money, such as that of international dope-pusher George Soros, and kindred international financial swindlers, could have bought."
The kindest thing that could be said about President Obama's currently adopted policies, is that they are not only evil in the specifically fascist intentions which they express in practice, as in notable instances which are essentially exact copies of Adolf Hitler's polices, as in the case of his current health-care and so-called "environmentalist" policies: even though they might be viewed as honest mistakes made by the clinically insane. Whatever else should be said of this matter, he has been, clearly, brainwashed by his current choice of "behavioral" psychologists. Without removing the influence of those brainwashers and their frankly fascist financier accomplices, there is no hope for our U.S.A. during the present calendar year, or, for that matter, for the world at large, unless the current policies of the Obama administration are changed, in the way which I have indicated, very soon.
Your response to my warning, thus becomes your choice of your own personal destiny. Wake up! Before it is, soon, too late.
Notably, the President himself has admitted this fact, if only implicitly, in the way he has attempted to excuse his current behavior. We must emphasize the fact of his adopting a virtual carbon-copy of the Adolf Hitler health-care policies, later judged to be genocide, of September 1, 1939. So much money had been sent down into the sewers of London and Wall Street, for bailing out international financial swindlers, that there is virtually nothing left over, in Obama's stated opinion, for either expansion of production, or health care. Rather than imposing rising death-rates on the U.S. population, he should have cancelled bail-outs to the fraudulent claims of the planet's greatest financial swindlers, by putting the system into bankruptcy-organization. He should have acted to increase the productive output of the nation's economy, rather than wrecking it with lunatic, pro-genocidal, neo-malthusian ruin. His policy of practice has become, thus far: sacrifice the baby for the sake of the very, very, dirty, financial bath-water!
In uttering his lame excuses for looting the treasury to fatten the swindlers, this current President has left us with the fact, that the only way the U.S. could survive, even almost two years later than July 25, 2007, is by reversing the intrinsically fraudulent "bail out" of Wall Street and London, to put the system into bankruptcy-reorganization, as I specified this then. In a choice between serving the swindlers and the people of the United States, President Obama has chosen the side of the swindlers who contributed so much to buy themselves his presently less than worthless Presidency.
The only hope for his Presidency, now, is that he must betray the swindlers who bought him his election; we must do this in order to serve the citizens of the U.S.A. people whose trust in him he has presently betrayed, and to whom he owes the burden of his declared oath of office.
That warning by me, is not a description of a merely possible outcome of the present administration; it is already the settled character of the administration, and its ultimate self-destruction. The horrid, present destiny of his could not be changed, unless we rid the Presidency of the administration's currently dominant influences, the influences of, among others, Larry Summers and the "Behaviorist" swindlers, who purchased this President's conscience for such a high price. Only if the President were induced to throw out Summers and the Nazi-like Behaviorists of Peter Orszag et al., would the potential of the remaining elements of the current administration come to play a dominant role in a happier choice of direction.
- My Authority In This Matter -
Unless the adoption of the policies which I have specified since my international webcast of July 25, 2007 were to replace, entirely, the current policies of the U.S. Congress and Presidency since Labor Day, 2007, would there be any foreseeable hope for the survival of a planetary civilization during the lifetime of the presently living generations.
I have not only earned the right, but the obligation, and competence, as a forecaster, to say this, without fear of misjudgment in saying so. Short of losing my life, or subjection to grievous physical torture for saying so, I have already done much more than pay my political dues for the right to speak as I do, and every sane figure in leading circles of our standing institutions of government knows that this is a true fact. Anyone who knows and is willing to acknowledge the fraud done, officially, by the customarily lying mass-media, and otherwise, against me and my associates, during the recent term of nearly three decades, knows this to be the true case.
First of all, what must be done, is to cancel the entirety of the current President's current policies and program, and that of his immediate predecessor, immediately. He must not be awarded even a single foolish year to continue his present trend of efforts to destroy our nation, and civilization generally; the change must come suddenly, and now. There is nothing good in any of his current economic policies. We have nothing, really, to risk, in expending whatever effort might be needed to induce him to modify his behavior; humanity at large could only gain what humanity as a whole could not now afford to lose.
You ask me: "Will he be willing?"
He would be if the citizens and institutions of our United States are resolved to give him no other choice. The fate of all nations of the world now hangs on the relatively immediate such action, to quickly and suddenly change the behavior of this President, by our United States, now, for no lesser reason than that your sister might not end up in somebody's gas oven.
Back then, there were assurances that, "It can't happen," but it did. Now, we blame Hitler, and we are right; but, we should have also dealt with the power which created Adolf Hitler's regime, the same British monarchy of Prince Philip's World Wildlife Fund of today, a monarchy which we of the U.S.A. had later rescued as the price of ridding the world of Britain's creation, Adolf Hitler, then.
Whatever the differences between Barack Obama and Adolf Hitler, there is nothing essentially different between the social policies into which creatures such as Larry Summers and Peter Orszag have guided President Barack Obama now, and both the intent and outcome of the regime of Adolf Hitler, then. This time, it is not only European Jews, Hungarians, Poles, Ukrainians, and Russians, and the ageing and ill generally, who are the exemplary victims of monstrous crimes against humanity, but also your American neighbor with a slight fever, or a curable injury, next door. Obama's personally advocated policies are intentionally genocidal by that same World War II period's standard. After all, genocide and slavery have been the hallmarks of the British empire, as this is still so on the continent of Africa, or the Arab victims of London's Sykes-Picot program of petroleum marketing in Southwest Asia, still today.
In certain, recently published reports, I have set forth the account of history which provides insight into the nature and origins of the presently reigning system of imperial financier-oligarchical reign known popularly as "the British Empire," the empire otherwise known, in fact, as the specific form of continued Venetian financier-oligarchical rule in the current form of the Venetian financier legacy of Paolo Sarpi's system of imperial Liberalism.
The only remedy for the perils of the planet at this menacing instant, is the American System of political-economy associated with the notions of a credit-system, rather than the always intrinsically imperialist monetarist systems. Only action led by a concert of the U.S.A., Russia, China, and India, could form the initiating body of action needed to rescue the entire planet from a descent into Hell right now.
Unfortunately, the nations of continental western and central Europe are not free, at the moment, to participate in the founding of the new world credit-system of associated, respectively sovereign nation-states. For the moment, the last vestige of true sovereignty among the nations of western and central Europe went down the road to imperial Hell under the initiatives of Britain's Prime Minister Margaret Thatcher and her leading accomplices, U.S. President George H.W. Bush, and France's anti-Gaullist President Francois Mitterrand. Only by breaking the agreement made against Germany and other nations of the western, central, and eastern European continent then, could any among those nations now be freed to resume their sovereignty over both their foreign and internal affairs.
In fact, while many silly people, including many people in very high places, speak ignorantly of the U.S.A. as having replaced a former imperial role of the Anglo-Dutch-Liberal monetarist system, the fact is that the only reigning imperial system of this planet now is the London-centered, imperial system of monetarism known as the dogma and practice of "free trade."
There are only two choices of systems. One a system of respectively, perfectly sovereign nation-states. The other, the enemy of sovereign nation-state, is known as monetarism, or free trade. The imperial power which must be destroyed, if any nation is to become sovereign again, is the elimination of monetarism in any form.
Monetarism means the existence of a system of money-values which is independent of national sovereignty, and is therefore the imperial power to which all nations accepting monetarism are subject as imperialism's mere colonies.
In the case of the present world crisis-swindle which has been based entirely, absolutely on the affirmation of the superior authority of monetarist claims over national economies, to which a treasonous gang controlling high-ranking positions in the U.S. government and Federal Reserve System have, in fact, acted as accomplices of an alien, monetarist financier power, a power to loot and ruin many nations which should have been sovereign, including our own United States as the looted victim of treasonous complicity even from among our own influential parties and elements of government.
In that respect, and on that account, the current policies of the United States, under present circumstances, are treasonous in their effect, if not the conscious intention of the damnable fools who have permitted this situation to develop.
On this account, I am a true patriot of our republic. Can you truly say the same a
about yourself?

http://www.larouchepac.com/node/10381

President Obama Must Dump Larry Summers to Save His Presidency

March 29, 2009, 11:20PM

March 28, 2009 (LPAC)--The following article by LaRouche's National Spokeswoman, Debra Hanania-Freeman, will appear in the upcoming April 3, 2009 issue of the Executive Intelligence Review.

The Enemy Within: President Obama Must Dump Larry Summers to Save His Presidency

By Debra Hanania-Freeman

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During an internationally broadcast webcast on March 21, Lyndon LaRouche noted that the real problem in the Obama Administration's economic policy team is not Treasury Secretary Tim Geithner. Instead, LaRouche stressed, the man whose policies pose the gravest danger to both the nation and Barack Obama's presidency is Larry Summers, the head of the President's National Economic Council. LaRouche called for Summers to be removed from his post.

LaRouche's Saturday warning that Summers posed a significant threat to the Administration was borne very quickly. By Monday, as Treasury Secretary Tim Geithner unveiled the latest phase of the biggest bailout swindle in history, it was announced that the President's popularity had plummeted from a high of 78%, which he enjoyed in the days following his inauguration, to just under 50%. In fact, during the course of that week alone, the President's approval rating dropped by more than 13%!

As the week progressed, it became increasingly apparent that there was a potentially cataclysmic split inside the Administration. While a clearly hoodwinked President Obama was persuaded by Summers and his backers that the way to solve this worst financial and monetary crisis in modern history was to turn the keys to the banking system--at taxpayers expense--to a bunch of hedge fund thieves, saner voices echoed the policies outlined by LaRouche. A group of prominent and accomplished economists, most notably Texas economics professor and noted author James Galbraith (who is also the son of FDR's economic adviser John Kenneth Galbraith) and Nobel Laureate Paul Krugman, insisted that not only would the latest (and worst) of the bailout schemes could not work, but that in fact, it would serve to make things much worse. They argued instead for the solution employed by FDR; the same solution that Lyndon LaRouche put on the table almost two years ago - to save the U.S. banking system by reorganizing it under bankruptcy protection. Former Federal Reserve Chairman Paul Volcker, who heads the President's Economic Recovery Advisory Board, during a speech in NYC, was even more emphatic on a point he has addressed before: that the current system absolutely had to be reorganized, and reorganized in a Glass-Steagall framework.

Apparently, Summers, a notorious egomaniacal blowhard whose inability to work with anyone has cost him more than one job in the past, threw a hissy fit and told the President that he wasn't going to continue to play in the same sandbox as Volcker. Unfortunately, President Obama has been brainwashed into believing that in order for him to begin to solve the disaster he inherited from the Bush-Cheney Administration, that he needs the support of the very Wall Street thieves who are largely responsible for this latest phase of the collapse, and that Larry Summers is critical to winning him that support. So, on March 25, OMB Director Peter Orszag announced that President Obama was putting Mr. Volcker in Charge of a tax-code review aimed at closing loopholes, streamlining the law and generating revenue. Orszag said the review, given a deadline of Dec. 4, was being ordered to make recommendations on steps to simplify the code, built over the last 96 years, in ways that would reduce tax evasion and what he called "corporate welfare."

There was no mistaking what had occurred. Right after Volcker disagreed with Summers over not only the timing of regulatory reform, but the core question of the necessity of bringing back Glass-Steagall, which Summers personally worked to wreck in 1999, he was being sent off to go work on taxes for the rest of the year. Obama's personnel choice was not only wrong, but potentially fatal to his presidency. Despite Volcker's many problems, he is one of the few economic thinkers in the U.S., and the only such person inside the Obama Administration, who has the stature to credibly oppose Summers' bullying economic insanity.

In the interest of freeing President Obama from the toxic threat that Summers poses to his presidency and to the nation, it is time to take a close look at just what Larry Summers represents.

Long before Summers became Treasury Secretary during the last 18 months of Bill Clinton's second term, he distinguished himself as an ardent opponent of the American system of economics. After studying under Martin Feldstein at Harvard, Summers joined the staff of the Council of Economic Advisers under Ronald Reagan. In that post, he argued successfully for radical cuts in both corporate and capital gains taxes as the best incentive for economic growth. He also insisted that unemployment insurance and welfare payments are among the single greatest contributors to unemployment, and as such, should be scaled back.

In December 1991, when Summers served as Chief Economist for the World Bank a memo that bore his signature was leaked to the press. The internal memo, which clearly was not intended for the public, argued that although free trade would not necessarily benefit the environment in developing sector countries, that there was clear economic logic in dumping waste their. In an aside to the memo, leaked to the press, Summers cynically suggested that "I think the economic logic behind dumping a load of toxic waste in the lowest wage countries is impeccable and we should face up to that...I've always thought that under-populated countries in Africa are also vastly underpolluted."

In 1993, Summers joined the Clinton Administration as Undersecretary for International Affairs. In that post, he promoted genocidal shock therapy against the Russians, demanded an expansion of the power of the IMF, demanded increased deregulation by the Japanese (in 1997), and brags about his role in forcing Korean government to raise its interest rates and balance its budget in the midst of a horrible economic crisis, a policy sharply criticized at the time by two Nobel Laureates, Paul Krugman and Joseph Stiglitz. At the same time, according to a book by Paul Blustein, Summers, along with Paul Wolfowitz, tried to convince the Clinton Administration to effect a regime change in Indonesia.

All of this paled in comparison to the pain and damage inflicted on this nation and its people once he became Treasury Secretary. During the California energy crisis of 2000, then-Treasury Secretary Summers teamed up with Federal Reserve Chairman Alan Greenspan and Enron executive Kenneth Lay to work over California Governor Gray Davis, lecturing him that the cause of the crisis was excessive government regulation. Summers bullied Davis into further deregulating California's utilities and relaxing California's environmental standards in order to "reassure the markets."

However, nothing did more damage to this nation or more to cause this current crisis than the wrecking operation Summers led against any and all forms of financial regulation. As Treasury Secretary, Summers played the key and decisive role in convincing Congress to do what had been attempted (and which fortunately also failed) more than 12 times in 25 years: the repeal of the Glass Steagall Act, which had been enacted in 1933 after the Pecora Commission catalyzed popular support for stronger regulation by hauling bank officials in front of the Senate Banking and Currency Committee to answer for their role in the stock market crash.

Immediately after taking over as Treasury Secretary, when the Administration, and especially the President, was distracted by other matters, Summers launched a relentless lobbying effort to pass the Gramm-Leach-Bileley Act, which repealed key portions of Glass-Steagall and allowed commercial banks to get into the mortgage-backed securities and collateralized debt obligations game. The measure also created an oversight disaster, with supervision of banking conglomerates now split among a host of different government agencies - agencies that more often than not failed to let each other know what they were doing and what they were uncovering.

Another dirty little secret about Summers tenure as Treasury Secretary was the role he played in torpedoing any regulation of derivatives trading. Just prior to moving up to the post of Treasury Secretary, Summers became a singular and strong advocate inside the Clinton Administration for what was nothing less than a time bomb - Phil Gramm's other measure that let these banking-conglomerates-in-the-making create and trade derivatives without regulation.

Indeed, during a 1998 Senate hearing, Summers testified against the regulation of the derivatives market on the grounds that we could trust Wall Street! "The parties to these kinds of contract," he said, "are largely sophisticated financial institutions that would appear to be eminently capable of protecting themselves from fraud and counterparty insolvencies and most of which are already subject to basic safety and soundness regulation under existing banking and securities laws." He continued to defend over-the-counter derivatives and block all moves to regulate them up through 2000, calling them "an important component of the American capital markets and a powerful symbol of the kind of innovation and technology that has made the American financial system as strong as it is today."

It would be hard to make assumptions that turned out to be more wrong. Larry Summers was either the most corrupt and sinister Treasury Secretary in our nation's history, or the most incompetent one. However, his high level managing position for D.E. Shaw, one of the most secretive of hedge funds, upon leaving office, would tend to argue in favor of the former.

Even more damning, though, was an Op-Ed by Summers that appeared in the New York Times on November 19, 2006. In that piece, written upon the death of radical libertarian economist Milton Friedman, Summers makes the startling revelation that Friedman was "his hero." In the piece, which he entitled "The Great Liberator," Summers argues that "any honest Democrat will admit that we are now all Friedmanites," writing that Friedman not only made enormous contributions to monetary policy, but even greater contributions "in convincing people of the importance of allowing free markets to operate unencumbered."

It is little wonder, then, that an increasing number of economists and Democrats believe that President Obama is, as Oregon Democratic Representative Peter DeFazio has stated, "ill-advised by Larry Summers." In January 2009, as the Administration tried to pass their stimulus bill, DeFazio, along with economists including James Galbraith, Paul Krugman, and Joseph Stiglitz, argued that more of the stimulus money should be spent on much needed infrastructure projects. Defazio stated that he wasn't surprised that Summers favored funding more tax cuts over infrastructure. "Larry Summers HATES infrastructure," he said. "(He) was very much part of creating the problem, now they're going to solve the problem? And they don't like infrastructure. So they want to have a consumer driven recovery. We need an investment and productivity driven recovery for this country - a long term recovery. Instead of borrowing from future generations, we should invest in future generations and Larry is pretty much on record as being anti-infrastructure...."

Yet, it is this man who right now has the ear of a President who campaigned on the need to overhaul and re-regulate the nation's financial and banking system, who wants to pass a sweeping social agenda, who says he wishes to be known as the President who initiated the construction of a continental high-speed, maglev transportation system, and who led the United States out of the greatest economic crisis in its history.

In order to save this nation and his own Presidency, it would do President Obama well to heed Lyndon LaRouche's Emergency Warning to the President of March 25 which can be found at www.LaRouchePAC.com

LaRouche: Why President Obama's Popularity has Suddenly Collapsed

March 24, 2009, 6:51PM

March 24, 2009 (LPAC)--Lyndon LaRouche today warned that President Barack Obama is being hoodwinked by some of his leading so-called economic advisers, and the consequences could be both the early destruction of his Presidency, and a global financial shock, that brings down the entire system. "This is why, over the past 48 hours, since the announcement of the latest bailout swindle, President Obama's approval rating with the American people has plummeted. It is the result of the President's apparent endorsement of this worst-yet bailout swindle," LaRouche explained.

"It is clear to me," LaRouche warned, "that the entire global financial system is hopelessly bankrupt, and that the behavior of some key American officials, including Larry Summers, Nancy Pelosi and Barney Frank is tantamount to treason." LaRouche explained: "The President is clearly unprepared to deal with the horrendous financial and monetary collapse that he has inherited, and he is being hoodwinked into endorsing policies that will only assure that the entire system blows. Otherwise, President Obama would never have gone along with the swindle announced yesterday by his Treasury Secretary, Tim Geithner. You cannot solve this worst financial and monetary crisis in modern history by turning over the keys to the banking system--at taxpayers expense--to a bunch of hedge fund thieves. Is the President prepared to squander another $6 trillion in taxpayers money over the period between now and April 15? That is what the plan announced yesterday by Secretary Geithner is going to mean.

"I know," LaRouche continued, "that Geithner is not the sole author of this swindle. He is the vehicle through which the scheme has been floated. I have no doubt that, ultimately, this plan was hatched in London, which stands to lose everything if the offshore hedge fund empire is shut down. So, we are not dealing with a well-meaning blunder. We are dealing with a policy that is intended to destroy the United States altogether. It is coming from a London-centered financial oligarchy that is out to wreck the United States, beyond repair. And people like Speaker of the House Nancy Pelosi and House Financial Services Committee Chairman Barney Frank are fully complicit in this treasonous effort. For them, and for people like Larry Summers, their complicity in this action is tantamount to treason. If the plan, announced on Monday by Secretary Geithner is allowed to go forward, this can be the trigger that detonates the crash of the entire global financial system. This will not just bankrupt the United States. It will bankrupt the world."

LaRouche concluded, "President Obama is, no doubt, well meaning, but he has been taken in. If this continues any longer, the U.S.A. will be finished. I do not wish to see that happen. I do not wish to see worthless and semi-worthless paper on the books of the banks bought up by taxpayers' dollars at 80 or 90 cents on the dollar, and turned over as assets of the very offshore hedge funds that have played such a pivotal role in the unfolding of this crisis. I am speaking in blunt terms, because the stakes are so great, and nothing short of the whole truth is going to serve the President's needs at this time."

http://www.larouchepac.com/

LaRouche: Latest Bailout Swindle Just One More Keynesian Fascist Swindle That Could Bring Down Obama's Presidency

March 23, 2009, 11:37PM

March 23, 2009 (LPAC)--Lyndon LaRouche today forcefully denounced the latest bailout swindle, announced this morning by Treasury Secretary Tim Geithner, as nothing more than a ``continuation of the original bailout scheme put forward by then-Treasury Secretary Henry Paulson in Nov. 2008.'' LaRouche warned that, if this so-called Public Private Partnership Investment Program (PPPIP) scheme is allowed to go forward, it will not only trigger Weimar scale hyperinflation. ``It could, ultimately, bring down the Obama Presidency.''

LaRouche elaborated. ``This is the same kind of Keynesian--i.e. fascist--swindle that was put in place just hours after the death of President Franklin Roosevelt, by his replacement, Harry Truman. Truman's instant abandonment of FDR's Bretton Woods System, a credit system of fixed exchange rates, which was adamantly opposed by Lord Keynes, the British delegation and their Wall Street accomplices, was tantamount to treason by Truman. It was a betrayal of everything that FDR stood for, beginning with Roosevelt's commitment to the elimination of the British Empire at the close of the war. Truman's betrayal was a form of warfare against the United States. True, there were no guns pointed at American soldiers, but it was as much an act of treason as any act of military aggression during the war.''

Under the proposed Geithner PPPIP, announced today, private sector investors, led by hedge funds, would set the price of the toxic assets to be removed from the books of the banks--at vastly inflated prices. The hedge funds and other so-called private investors, themselves, would put up only a tiny fraction of the capital. The vast majority would come from taxpayers' money, pumped through the Treasury Department and the Federal Reserve. ``This is no different than the already discredited scheme of Paulson and Geithner from last Autumn,'' LaRouche explained. ``It is just a continuation of the TARP swindle, but with the hedge funds now brought in on the action--all at taxpayers' expense.''

LaRouche further noted that, to the extent that any private funds are channeled into this black hole, it further dries up private funds for productive investment. ``What this means,'' LaRouche concluded, ``is that the government is driven to come up with one Keynesian program after another--and that spells massive hyperinflation. That is why I warn President Obama, that if he goes along with this latest version of the same swindle that goes back to Harry Truman and his abandonment of FDR in favor of that self-professed Fascist, Lord Keynes, his Presidency is in jeopardy.''

http://www.larouchepac.com/node/9725

LaRouche: "They Are Stealing! Stop Them From Stealing!"

March 19, 2009, 11:11PM

March 19, 2009 (LPAC)--Lyndon LaRouche was not impressed today with the argument of Tim Geithner and others that it will be "very difficult legally" to recover $165 million in bonuses AIG just paid to derivatives traders with taxpayer money.

"They can; they're going to have to do it," he said. "All this bullshit: `we're going to see if we can do it....' The whole thing was a fraud perpetrated against the American government. And therefore, I don't care what the agreement was, if the agreement was an instrument of fraud, then the agreement is cancelled. It's that simple! Stop this bullshit! A fraud against the US government, does not mean this is an obligatory arrangement. If it's fraudulent, if it's misleading, if it violates the separation of state from private interests, in those cases it's cancelled, and these guys would pay the money back! I want us to get the money back, now!

"To teach the world a lesson as to who's boss," he added.

On the fact more than $100 billion of the AIG bailout has gone to cover derivatives bets, LaRouche asked, "Why should anyone have to pay that? It's a gambling debt! It's not an asset, it's a gambling debt! We should go out with an all-out pitch, the whole organization: `They're stealing! They're stealing! Stop them from stealing! The President must stop them from stealing. Somebody has to go to jail. These guys should go to jail!' The contracts should be cancelled! We're not obliged to honor it! It's a gambling debt! We don't pay gambling debts!

"Put organized crime into bankruptcy!" he expostulated.

"Cancel it! Cancel it! The United States government cannot be taxed implicitly for gambling debts. People who lose on gambling debts should eat their losses, or run away and hide!

"The idea that they had a moral obligation, or something, on the bonuses. This is what the crap is," he continued. "It's not legal: you cannot make agreements with the government, behind the government's back.

"And this was a crony operation!" LaRouche said, referring to the fact, among others, that Goldman Sachs has been the leading beneficiary from the AIG bailout, secretly receiving at least $12.9 billion of taxpayer money for worthless derivatives gambling-chits. "Call this cronyism gone wild. All these guys were cronies. A couple of these guys from Wall Street should be in prison right now! Sitting there awaiting trial, but under custody, so they can't run away. Goldman Sachs is the number one. The officers of Goldman Sachs should be in prison now, being held as a precautionary measure, so they can't run away, and they can't get any assets. This would be the proper procedure; this is a fraud against the government."

Former New York Governor Eliot Spitzer has just pointed out that the AIG bailout was agreed on last fall in a meeting of government officials Hank Paulson, Tim Geithner, and Ben Bernanke, joined by "private citizen," Goldman Sachs CEO Lloyd Blankfein!

"And they're afraid that someone is going to say this is an attack on the capitalist system," LaRouche added.

"Bankruptcy reorganization is exactly what should be done," he concluded. "The whole world system is bankrupt; therefore the whole world system has to be put into bankruptcy reorganization. That can only be done by individual governments and by groups of governments. So, the point is, cancel this whole thing! The bailout ends! We just went bankrupt; we're putting everything through bankruptcy reorganization!

March 21st Webcast Invitation

March 9, 2009 (LPAC)--On March 21, 2009 at 1 pm Eastern Time (10 am Pacific), leading economist and former Democratic Party Presidential candidate Lyndon LaRouche will address an international webcast of the utmost strategic importance for not only all American citizens, but for individuals everywhere. The topic: War Against the British Empire! The event will be broadcast live at http://www.larouchepac.com

AIG Bonuses Demand A New Pecora Commission

March 16, 2009, 12:23AM

AIG Bonuses Demand A New Pecora Commission

March 15, 2009 (LPAC)--Popular anger over taxpayer bailouts could be tipped over the edge by the Obama Administration's unwillingness to say where the AIG bailout money went, writes Washington Post senior columnist Jim Hoagland, who is clearly alarmed by what he calls the gathering forces of radicalization and social explosion in the U.S. Citing Larry Summers' refusal to answer a question about AIG, Hoagland warns that the government needs to "get in front of what could become a destabilizing public anger," and explain what happened, or else things could get out of control.

Lyndon LaRouche's approach is more to the point: call a Pecora Commission hearing immediately to unmask the full extent the crimes involved in the efforts to bail out the British imperial system. Expose it, and change it--or face the pitchfork brigade of incensed Americans.

Hoagland's alarms came even before the news broke on Saturday night, that AIG will pay $165 million in bonuses to executives in its Financial Products division, the subsidiary whose derivatives trading bankrupted AIG. U.S. taxpayers have so far coughed up $173 billion in federal bailout funds to keep the AIG charade going. It was reported last week by ABC that AIG's Financial Products Group--the epicenter of the AIG collapse--is based in London; it was responsible for losing almost $500 billion.

These bonuses come on top of $121 million in bonuses already paid out by AIG while it sucks on the taxpayer teat.

News stories claim that Treasury Secretary Geithner allegedly objected to the bonuses, but that AIG said they were legally obligated and could not be canceled. AIG's chairman Edward Liddy said he can't retain "talented staff" (the very same staff who lost billions gambling in derivatives such as credit default swaps!) "if employees believe that their compensation is subject to continued and arbitrary adjustment by the U.S. Treasury." (Continued and arbitrary bailouts by the U.S. Treasury are apparently OK.)

When Administration spokesmen tried to defend this "legal contracts" ruse on the Sunday talk shows, a couple of the hosts pointed out, in a clear reference to auto worker unions and others, that workers are constantly being asked to give up contractually-guaranteed wage increases and benefits.

The only solution to the new dark age crisis is in going back to the most profound level of ideas embedded in our Hamiltonian American System of physical economic science, now significantly refined through the LaRouche-Riemann method! Everything else is just more of the same, though on a world wide genocidal scale, waste of time! Let the post Bretton Woods System go, it is a dead skunk which can never be revived. While you still have the liberty given of our forefathers and the free will to act, do so act within the only defensive effective means to save our nation, go with LaRouche. Oh, by the way, only LaRouche, "The Lone Economist", was right!
March 21st Webcast Invitation for the free and the brave solutions.

http://www.larouchepac.com/node/9446

Financiers Prepare to Battle Against Return of Glass Steagall

March 11, 2009, 11:31PM

March 11, 2009 (LPAC)--A specter more terrifying than Karl Marx's communism'' is haunting Wall Street, according to the latest article, today, in a series in Bloomberg News called "'Glass-Steagall' Specter Returns to Haunt Wall Street (Update 2).''

Bloomberg is the outfit founded by New York Mayor Michael "Benito'' Bloomberg. The article, focusing on a March 6 conference at New York University's Stern School of Business, says, "A decade after Wall Street killed off the Glass-Steagall Act ... its ghost has returned to haunt the financial industry....'' It says that Paul Volcker, adviser to Obama, pushed this Glass-Steagall return at the NYU conference and that FDIC Chief Sheila Bair signalled the same intent in a March 8 interview.

Even more ominous, President Obama might agree with them. Look at his Cooper Union speech on March 27, 2008, where then-candidate Obama said that the 1930s regulatory legislation "needed to change.... But by the time the Glass-Steagall Act was repealed in 1999, the $300 million lobbying effort that drove deregulation was more about facilitating mergers than creating an efficient regulatory framework.''

If there is any attempt to bring back Glass-Steagall, there will be "opposition from the same people who fought so hard for the death of Glass-Steagall,'' warned "Ace'' Greenberg, the former CEO of Bear Stearns, in an interview with Bloomberg.

London Financial Times' reporter John Gapper, who also spoke at the NYU conference, sounds the same warning, with a more direct swipe at Volcker. Gapper says, "Paul Volcker has his sights on Goldman Sachs,'' and warns that Volcker proposes "two tier banking'' that would strictly separate banks with depositors from investment firms that can speculate. Gapper quotes Volcker saying "'Goldman Sachs would have to be split up if you separated
these functions.' It will be very interesting to see Goldman's reaction if Mr. Obama takes up Mr. Volcker's suggestion."

http://www.larouchepac.com/node/9549

Gordon Brown Lies Hysterically Before Before Joint Session Of Congress

March 9, 2009, 12:08AM

March 8, 2009 (LPAC)--President Obama's snub and studied disrespect for visiting British Prime Minister Gordon Brown, reported as the chief political news this morning, served as a perfect backdrop to Brown's frantic lies in his address today to a joint session of Congress.

Brown delivered a perverse fantasy, in which America's historical resistance to British imperial crimes, became instead a record of unified Anglo-American purpose. He defined America's task now as preserving the British-led international banking swindle, in opposition to any attempt to rescue the world from that collapsed system.

The British spokesman said, "The very creation of America was a bold affirmation of faith in the future...." This is useful: we had previously thought that the British had played a negative role in the American Revolution.

Brown explained that the world "looked to Washington D.C. as `a shining city upon a hill,'" and that "our friendship [was] formed and forged over two tumultuous centuries...." By that chronology, the friendship got off to a roaring start about when British forces burned Washington to the ground (1814), and got even friendlier with British aid to the slaveowners' Confederate war to smash the U.S.

He said he "grew up in the 1960s as America, led by President Kennedy, looked to the heavens and saw ... a new frontier...." Unfortunately, the British-Wall Street axis murdered Kennedy for having such an outlook. No doubt to remind us of the danger such a point of view can put a President in, today's London Times carries, right beside a transcript of Brown's speech, an archive photo of President Kennedy being shot to death in Dallas.

Brown announced that the majestic British queen has awarded an honorary knighthood to the stricken Senator Ted Kennedy, because "Northern Ireland is today at peace." Well, it is truly a puzzler to remember, which occupier was it, that brought centuries of cruelty and chaos to Ireland, requiring U.S. intervention to bring "peace"?

The successor to Tony Blair said "we grieve with you" when "a young American soldier is killed in conflict ... in the plains of Afghanistan and the streets of Iraq." This is good to know, after Blair's WMD intelligence buoyed up Bush for Baghdad, and now that British forces directly superintend the global heroin trade's center in the Afghan Helmand province.

Brown declared his "support to ensure there is no hiding place for terrorists, no safe haven for terrorism." That will come as thrilling news for U.S. and other intelligence services coping with "Londonistan" -- the undisturbed English headquarters for most of the world's terror groups, groups financed by British-laundered dope profits.

The Prime Minister lectured America and the world on how to deal with the "economic hurricane" that "has swept the world." As the City of London's quadrillion dollar offshore banking pyramid dissolves, Brown says, "you [U.S.A.] are restructuring your banks. So are we [British]. But how much safer would everybody's savings be if the whole world finally came together to outlaw shadow banking systems and offshore tax havens?"

This attitude is especially refreshing, correcting the impression Brown gave earlier in his visit, when he was reportedly desperate to head off U.S. moves against offshore criminals.

He assured the Congress that if his program is followed, we will see "trade once again the engine of prosperity, [and] the wealth of nations restored." How the heart sings! -- to hear again from the British source, the truths of Free Trade, of Trade itself (rather than production) as the source of wealth, and the grand homage to the East India Company's Adam Smith, whose 1776 book "Wealth of Nations" warned the American rebels they could never escape destiny's assignment to be mere plantation suppliers of raw materials to the foreign empire.

He closed with praise for Franklin Roosevelt, which was very reassuring in light of the attacks against FDR now pouring out of London into the world's media, reviving Churchill's central role in burying FDR's policies after World War II.

With this, Brown called for renewal of the "special relationship" that has blazed so brightly over the years.

LPACTV: LaRouche Declares War on the British Empire

http://www.larouchepac.com/node/9443

LaRouche Welcomes `Collision' Between Obama and Brown Over the Offshore Empire Tax Havens

March 4, 2009, 6:38PM

March 4, 2009 (LPAC)--The Obama White House is pushing strongly, for passage of Senate bill S-506 to force the revelation and taxation of "offshore" tax-evading income--what has been as much as $13 trillion untaxed wealth in United Kingdom offshore centers, Switzerland, and Luxembourg. In 2006, then-Senator Barack Obama had co-sponsored with Sen. Carl Levin, the anti-tax evasion legislation which President Barack Obama is now calling for. Economist Lyndon LaRouche today declared the "total, enthusiastic support" of his LaRouche Political Action Committee (LPAC) for the Stop Tax Haven Abuse Act. It could stop the bankers and hedge fund operators who brought the financial system down, from enjoying their looting fortunes untaxed and costing the U.S. Federal government $100 billion a year in tax revenue.

More importantly, the White House push to open the "secret banking jurisdictions" of the British offshore empire puts Obama "on a real collision course with [British Prime Minister] Gordon Brown," as the London Guardian reported today. In contrast also to Germany and France, the British oppose opening up the offshore tax-avoiding banking centers, and oppose writing off derivatives and other bad debts booked there. The Guardian says the Levin Senate legislation "is a severe blow to Jersey, the Cayman Islands, and Switzerland, where $13 trillion in untaxed private wealth has gone." These and many other island havens are under UK (or Dutch) protection. Brown is under intense City and UK-offshore pressure to stop this "blow." And though the Guardian does not mention it, Gordon Brown was formerly called "the tax evaders' Chancellor" for his protection of the offshore UK money centers from regulation or disclosure, and his opposition to regulation in the City of London banks themselves.

The U.S. President who chucked Winston Churchill's bust out of the Oval Office, has already had a chilly encounter with Gordon Brown on March 3, nixing a press conference at which Brown wanted to push his latest global bank bailout schemes. If S-506 becomes law, it will force Brown into open protection of Wall Street and City of London tax looters, along with such British agents as George Soros.

Senator Levin said yesterday, "President Obama's support for the Stop Tax Haven Abuse Act, as announced by Treasury Secretary Geithner [on March 3], is very welcome news and greatly improves the chances of an offshore tax bill becoming law this year."

LaRouche said, "This is excellent. Go all out for it."

http://www.larouchepac.com/

LaRouche: What We Are Seeing on the Economy Is a Continuation of What Began In 2007

March 2, 2009, 11:31PM

March 2, 2009 (LPAC)--Lyndon LaRouche today brushed aside all the alarming economic news reports currently dominating the media, as "nothing new." "These are not new developments," LaRouche stated, "they are simply a continuation of what began on July 28, 2007"--three days after LaRouche's historic webcast in which he forecast the outbreak of the ongoing world financial disintegration.

From the news about the latest bailout of AIG, to the insolvency of HSBC bank, to the collapse of trade and production all across Asia, "What you are seeing," LaRouche stated, "is the continuing breakdown, which we have forecast, of the present international monetary financial system. And there has been nothing new, really, since that time, except the crashing of the system, as I forecast it.

"There's a lot of double-talking," LaRouche said. "You get too much polite language, when the world is dying. The system is coming down. I forecast it. Nobody else did. Some people were intelligent enough to recognize I was right; others were not. Others were just plain crooks who didn't care whether it was true or not; they were just going to continue to try to steal, anyway--up to their last breath. There's no other way to characterize it," LaRouche concluded.

Also,

Galbraith Says "There Were People" Who Saw the Crisis Coming.

http://www.larouchepac.com/node/9376

LaRouche Cites Hamilton And FDR In Call For New National Bank

February 28, 2009, 8:08PM

February 27, 2009 (LPAC) -- Lyndon LaRouche today further elaborated on his call, earlier this week, for the establishment of a new Hamiltonian National Bank, as part of the implementation of his Homeowners and Banks Protection Act (HBPA).

``We have the precedent of our first Treasury Secretary, Alexander Hamilton's takeover of all the Revolutionary War debts of the states,'' LaRouche explained. ``The Hamilton precedent is crucial today, because Hamilton set the foundations of our entire system of national banking and credit. Hamilton took over the debt obligations of the states, established the role of the Federal government as the sole source of national debt and
credit. This was, and still is, to this day, fundamental. The debt obligations of the states, once assumed by Hamilton, formed the basis for the issuance of new credit for national infrastructure investments, including roads, canals and bridges, that boosted the overall productivity of our new sovereign republic. This is why a new National Bank is vital for the
restructuring of the current, hopelessly bankrupt banking system, and the launching of an economic recovery.''

LaRouche also cited President Franklin Roosevelt's role in passing the Glass-Steagall Act of June 1933, which reconstituted a Federal and state-chartered commercial banking system, in the wake of his Bank Holiday bankruptcy reorganization of the nation's shuttered private banks, as the second precedent for his current call for a new Hamiltonian National Bank. ``President Roosevelt did not formally establish a new National Bank, but he achieved the same results, through his bankruptcy reorganization
of the commercial banking system, and his use of the Reconstruction Finance Corporation and other mechanisms to generate a flood of Federal government credit for job creation and massive infrastructure expansion. Programs like the Tennessee Valley Authority (TVA) transformed the United States, and FDR accomplished this, through the very same methods pioneered by Hamilton.

``From the time of the Peace of Paris in 1783, through the ratification of the Federal Constitution four years later,'' LaRouche elaborated, ``Hamilton laid down certain cornerstone principles of our national banking and credit system. We can use those Constitutional precedents to reorganize today.''

LaRouche explained. ``As I first stated in my HBPA proposal of the summer of 2007, we must freeze all foreclosures of owner-occupied homes, for the duration of the crisis. We must then put all of the commercial banks--the Federal Reserve System as a whole--through full audit, followed by a bankruptcy reorganization. The worthless debt on the books of the banks will simply be canceled. The legitimate debts will be honored, in bankruptcy reorganization. The whole bankrupt Federal Reserve System will be replaced, in reorganization, by a new National
Bank. We shall launch a massive capital budget investment in high-technology, science-driver infrastructure projects, using the Constitutionally specified method of Congressional and Presidential-authorized credit. These Federal government credits, for specified infrastructure investment, will be channeled through the reorganized Federal and state-chartered commercial banks. The recapitalization of the banks, through infrastructure investment, will restore our banking system, over time, to healthy condition.

``That is how Alexander Hamilton did it. That is how Franklin Roosevelt did it. That is how I hope to see President Obama do it. This is the American System tradition, and there is no legitimate alternative available,'' LaRouche concluded.

LPACTV: National Debt, A National Blessing: Hamilton's National Bank

http://www.larouchepac.com/node/9356

LaRouche: Panic and Consternation and Chaos of Indecision

February 28, 2009, 7:29PM

February 27, 2009 (LPAC)--The bank-bailout efforts led by Treasury Secretary Tim Geithner have been little more than a panic-spawned mass of chaos ever since even before they were first unveiled February 10, barely two weeks ago. It's now well-known, as we were the first to report, that Geithner scrapped the plan his staff had prepared mere days before its presentation, and substituted an improvisation based on the notion that hedge-funds could be encouraged by government handouts, to buy up worthless "assets" from banks.

"Bailout, panic, and bailout again," as John Hoefle wrote.

Changes, re-explanations and reshufflings have followed one another almost on a daily basis ever since. The "stress-tests" for banks which were featured in Geithner's Feb. 10 presentation soon had to be re-explained: banks which fail the test would not be placed in receivership; instead, they will be given federal money. Next re-explanation: the government will get common stock, but not majority interest. Next re-explanation: not immediately, but after six months!

"This is horrible," said Lyndon LaRouche.

"There seems to be complete panic and disarray behind the scenes," he continued. "Because no one, so far, has been willing to bite the bullet on reality. And we should say so. This is just more and more of the same old crap."

That six months' delay lasted about 24 hours for Citigroup, which got what is said to be its third bailout Friday. But that doesn't include the undisclosed bailouts through the many other money conduits set up by Paulson and Bernanke. AIG has been bailed out with $180 billion already, but yet another givaway will probably be made within days.

"There's panic and consternation and chaos of indecision," LaRouche said. "This has to be recognized. You can no longer continue with this business of futzing around and trying to wait for your problems to go away. They're not going to go away."

In his Tuesday evening speech to Congress, President Obama called on Congress to do "whatever is necessary" to fix the financial system, but didn't say what it was, indicating that he had no agreement on it. "This is the Pelosi thing," LaRouche said. "It's still a Pelosi jam-up. It appears that as long as she remains in the Congress, the United States is not going to take any steps towards survival."

http://www.larouchepac.com/

LaRouche: "A Hamiltonian National Bank Act Is Needed"

February 26, 2009, 6:18PM

February 26, 2009 (LPAC)-- It is reported that corporations are pulling money out of Citigroup, and perhaps some other banks, in the light of worries about those banks' survival and the fact that the FDIC generally only guarantees deposits up to a $250,000 limit. But, the report went on, Geither is formulating his shifting bail-out schemes with no regard to this reality.

"Geithner is focussed on special interests, which is Wall Street," LaRouche responded. "He's blinded to the reality of the national interest. We need the HBPA now. All reform of the system is built around the central theme of the HBPA. Say: `It always was the only solution. If you want to efficiently defend the American economy, this is how to do it.' Wall Street is dead; it should be given a decent burial."

Extension of the FDIC guarantee to all legitimate bank deposits is implicit in the HBPA. Nothing has to be added; you can simply explain to people that this is so. Although a minor clarification can be added to the text that the freeze on foreclosures applies to "owner occupied" homes, which was always the intention.

On the major institutions, including Citigroup and AIG, where more Federal bail-out money has already been put in than their entire value, and they've effectively been bought up by the Federal government, LaRouche said, "Yes, we have to introduce another element at this point, which is Hamilton's concept of a National Bank." In such situations, these shares or companies will be held as assets of the National Bank, until they're ready to once again become private entities. A Hamiltonian National Banking Act is needed. Some of these corporations will be placed in temporary receivership, to either be liquidated, or re-established. After we've written off all of the trash on the books of the banks, beginning with the derivatives, there will still be legitimate obligations on their books to the Federal government, that will now represent net assets on the books of the National Bank, until they are retired.

What we need is a National Banking Reform Act, to provide for these kinds of circumstances of receivership. Remove the crap, write it off, and then sort out the still-existing legitimate obligations, and put them on the balance sheets of a Federal government entity, which can use them against which to issue credit and otherwise, until they are retired.

http://www.larouchepac.com/node/9334

Regenerate the U.S. and World Economy "Top Down"

February 24, 2009, 7:25PM

February 19, 2009 (LPAC)--Lyndon LaRouche emphasized in discussions today that we have to correct the mistakes the Obama Administration is making with its stimulus plan. The machine tool part of the former auto sector is the crucial factor in this development. With the collapse of the auto sector now in Europe as well as in the U.S., we have to have the same policy in Europe as in the U.S. We need an international policy, not merely a national policy. We also have to get the Russians in on the same policy. Then you have it. Take the machine tool capacity of the former auto sector as the crucial factor. Save it. Save the employees of the former auto industry. Forget automobiles. Use the machine tool part of the former auto sector as the driver for recovery.

The only way to revive the expiring U.S. and world economies is to take a "top-down, physical science" approach in emergency measures to regenerate basic infrastructure, essential functions, and agro-industrial capacity. The `stimulus' plan must be revised on this principle. Lyndon LaRouche has discussed this in detail in three webcasts since mid-January. In his Jan. 16 webcast, he recounted the history of how the U.S. successfully built river management systems, rail systems, and accomplished other feats of production such as mass aircraft assembly in World War II. He said, "We did it on the top-down approach. We start from science at the top level, physical science! You go down from physical science to machine-tool design, as a by-product of science for production design, of production of the essential components which go into anything..."

The following list reviews in brief, indicative parameters of what is needed in three sectors of the U.S. economy. At present, at least 21 million persons--13 percent, of the total U.S. workforce--are out of work, or very under-employed. Multi-millions of new jobs will be created in the course of carrying out a real, science-based development program.

I. High Speed Rail and Maglev

Today's U.S. rail grid (about 99,250 miles of Class I track) is nearly 60 percent less than in 1929, with freight and passenger services almost non-existent for most parts of the country. The place to start to modernize and expand, is with electrifying 26,000 route-miles of the rail system. In the second stage, another 16,000 route-miles should be electrified, bringing the total up to 42,000 route-miles. This would cover all key passenger and freight rail corridors that transport more than 60 percent of all U.S. rail traffic. Maglev lines can run along strategic continental routes.

The requirements for this are worked out, including for building nuclear power plants, transmission lines, step-up and step-down transformers, and for what is "saved" in eliminated petroleum fuels. The impact would be tremendous in increasing manufacturing and economy-wide productivity.

This program will be re-published in the EIR online Feb. 24, from a 2005 article by Hal Cooper and Richard Freeman (June 10, 2005, Vol. 32, No. 23, "Congress's Mission for Bankrupt Auto: Build USA Electrified Rail Network.")

II. Nuclear Power

The threat and incidence of black-outs and brown-outs in the U.S. electricity system are now a constant feature. Whereas per capita electricity generation grew at a rate of 7 percent a year from FDR's 1930s until the late 1970s, then came the decline to where over the 1995 to 2000 period, overall U.S. capacity grew only 1.5 percent, and thus, it went negative per capita.

What is required is to resume an all-out nuclear power development program, along the lines originally planned for "2000 by 2000" U.S. nuclear plants for the 21st century. Worldwide, there are only some 400 nuclear plants in operation today.

In the U.S., applications have been filed for 28 new power plants, to be constructed on the "brownfield sites" where a generating plant or two may exist, but the full complex of several plants was never completed. This is a start. But additional sites need to be selected, in order to fill out the national "economic map" for the future, where new generation centers are in place to power intended industrial, agriculture, transportation and residential purposes. Accordingly, the transmission grid must be expanded, and employ such technologies as superconducting cable.

There are "off the shelf" designs for power plants, including the Westinghouse AP-600 and AP-1,000; the General Electric Advanced Boiling Water Reactor (ABWR); and others. In addition, "fourth generation" nuclear plant designs can be readied for mass production. These are advanced, high-temperature gas-cooled reactors.

To go nuclear, requires reconstituting the U.S. capacity for heavy industrial output, to produce the required components, especially pressure vessels; this is in line with the renewed manufacturing capacity needed for refurbishing the entire infrastructure base of the nation.

Some rough parameters of job creation: "Approximately 4,000 workers are needed at each site at the peak of construction, and each new plant requires 400-700 employees. To build about 35 new reactors, about 38,000 jobs will be created in the nuclear manufacturing industry." In addition, another 20,000 are needed over the next five years, to take the place of the estimated 35 percent of the current nuclear workforce who are retiring over this period. (From EIR, Feb. 13, 2009, Vol. 36, No. 6, by Marsha Freeman, "Do You Want to Stimulate the Economy? Then Build New Nuclear Power Plants").

III. Waterways and Ports

Much of the 12,000 mile U.S. waterway system, of inland and coastal channels, is long overdue for improvements in its critical infrastructure of 240 locks and dams, and flood control structures and related. "The average age of all federally owned or operated locks is nearly 60 years, well past their life planned design of 50 years," stated the report released Jan. 28 by the American Society of Civil Engineers. There are locks and dams on the Monongahela/Ohio System that are over 80 years old.

Of the 27 locks and dams on the Upper Mississippi, including the Illinois River, 26 need renovation/repair, due to age. Seven of these rehab projects were approved in the 2007 Water Resources and Development Act, but the just-passed "stimulus" bill excluded these projects from funding, because of a provision inserted by the House and Senate Appropriations Committees to prohibit allocations of funding for so-called "new starts," that is, projects that had not previously received construction monies!

What is required is the go-ahead for the across-the-board restoration of the 12,000 mile navigation system. The January ASCA "report card" stated, "The cost to replace the present system of locks is estimated at more than $125 billion."

Technologies exist that can expedite both renovation and new-starts of needed waterway infrastructure. E.g. "Hollow" dam walls can be built off-site and "floated" into place. These kinds of components required for locks, dams, gates, weirs, levees, port infrastructure (traffic tunnels, piers, breakwaters), plus dredging equipment and vessels, creates the necessity for re-establishing heavy industrial capacity to feed the supply lines.

A rough parameter of job-creation is that 35,000 jobs result from every $1 billion of funding for navigation projects, according to the Department of Transportation.

http://www.larouchepac.com/news/2009/02/19/regenerate-u-s-and-world-economy-top-down.html

Now Comes Economic Time

February 23, 2009, 1:23PM

This article appears in the February 20, 2009 issue of Executive Intelligence Review.

THE CONCLUDING DOCUMENT OF A SERIES:

by Lyndon H. LaRouche, Jr.

February 8, 2009

This is the third, and concluding document of an EIR series written in this author's supplementary response to a question submitted, with an eye to the subject of a new U.S. economic policy, during the course of an international webcast of January 22, 2009, on the current economic crisis. The titles of the preceding two documents of the series are "Nations as Dynamical" and "The Meaning of Physical Time." PDF version of this article.

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March 21st Webcast Invitation

March 8, 2009 (LPAC)--President Obama's snub and studied disrespect for visiting British Prime Minister Gordon Brown, reported as the chief political news this morning, served as a perfect backdrop to Brown's frantic lies in his address today to a joint session of Congress.

February 27, 2009 (LPAC) -- Lyndon LaRouche today further elaborated on his call, earlier this week, for the establishment of a new Hamiltonian National Bank, as part of the implementation of his Homeowners and Banks Protection Act (HBPA).

THE CONCLUDING DOCUMENT OF A SERIES:

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