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PRESS RELEASE LaRouche Calls The Question On Bush Administration |
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Among clear indications that the policies adopted by the Bush Administration to deal with the dollar collapse, are only making things far worse, Lyndon H. LaRouche, Jr., candidate for the Democratic Party Presidential nomination, has raised the question, "is this being done out of stupidity, or is it willful?"
Take, for example, the new Administration tax-cut plan, which was signed into law this week, at the same time as the post-April 15th tax-revenue picture shows that U.S. government revenues from corporate and personal taxes are sharply down for the third year in a row (first 7 months of FY2003). The U.S. Federal debt ceiling has been lifted by nearly $1 trillion last week, to stand at $7.4 trillions. As for the falling dollar, Treasury Secretary John Snow says, "it's easier to export," when you have a weak dollar. That this is worse than stupidity, is the judgment of some observers. For example, the May 23rd London Financial Times carried the editorial, "Tax Lunacy--The U.S. administration throws prudence out the window." They wrote, "On the management of fiscal policy, the lunatics are in charge of the asylum...." Why do they act this way? The Financial Times concludes, that to these "more extreme Republicans," a "fiscal crisis offers the tantalizing prospect of forcing" cuts in social spending "through the back door." The same view is expressed in the New York Times, May 27, by economist Paul Krugman, suggesting that the neo-cons are actually hoping for a "train wreck" financial crisis. They can then use it as an excuse "to destroy America's social safety net built up over the past 70 years." He charges, "The people now running America aren't conservatives: they're radicals who want to do away with the social and economic system we have, and the fiscal crisis they are concocting may give them the excuse they need." LaRouche adds some essential history to these evaluations: The Bush family, acting with allied Wall Street and City of London interests, had, in earlier generations, been responsible for putting Hitler into power as a crisis move. LaRouche: Does The Administration Intend An "Economic 9/11"? LaRouche notes that it is far more likely that Administration actions are proceeding not from stupidity, but intended to willfully drive the world to a state of panic -- a "kind of economic 9/11" -- in which the banks are shut, businesses are shut, there is no credit, people have no money and are dropping in the streets. Then finally, private powers step into that kind of void with a new super-scheme à la the Bank for International Settlements, just as Montagu Norman, Hjalmar Schacht, Averell Harriman, and the Morgan interests et al did in the early 1930s in Germany, and tried to do in the United States against Franklin Delano Roosevelt. LaRouche noted that, only under conditions of panic, would people willingly cave in to such a supra-national scheme. That is the danger. The present post-Bretton Woods system is gone. It is past any "reform" or repair. A further 20% - 50% fall of the dollar against the euro would mean the whole system is gone. This is what the lunatics want. As a corollary to this evaluation, LaRouche observes that, it is clear why the financial oligarchy crowd fears China, because China is the one country that has the capacity to resist such mad schemes. - 30 -
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