- The dollar could well lose 40 per cent of its value,
this year, according to the economic experts at Executive Intelligence
Review. That would mean skyrocketing prices, and a catastrophic drop in
your family's standard of living. But that is only the beginning.
- The ongoing decline of the dollar is part of a global
financial bubble which is reaching its final moments. EIR founder Lyndon
LaRouche forecasts a that the entire world financial and economic system
may blow out some time between late August and October. LaRouche is the
world's most accurate economic forecaster. The coming economic chaos is
frightening. Without real leadership, we are all doomed.
- In Argentina, millions of middle class families have
been suddenly thrown into poverty. Starvation has become rampant in the
nation where people recently ate more meat than anywhere else on earth.
That will be America's fate, if we don't wise up.
- Americans have been brainwashed into thinking the economy
was solid. Our delusions have been fed by price rollbacks at Walmart and
by the ease with which you can increase your family's debt. Soaring market
"value" of your aging home and the mailbox full of "pre-approved"
credit cards have helped you avoid taking an honest look at the rot beneath
- Anybody can understand the simple facts of the economic
mess, except for somebody who insists on remaining in fantasyland. Do you
still believe that the stock market and your house price can only go up
and up? Do you still believe in big corporate profits and government budget
surpluses? That we can consume without producing?
- During the past 35 years, the U.S. elites have intentionally
dismantled our factories and bankrupted our farmers. In April the gap
between what we exported and what we imported was $36 billion, the second
- How have we been getting away with living off the production
of rest of the world, "living beyond our means?" By running
up debts as if we'd never have to pay them off. The rest of the world
has financed our increasing debt by sending us over a billion dollars a
day. They have been buying U.S. stocks, bonds, and properties. America
has been on life-support. No longer. Capital inflows began drying up in
the first quarter of this year, and capital flight out of the dollar is
- The value of the dollar has already gone down 10% against
other currencies this year. The drop is accelerating, becoming self-feeding,
and could become a total panic.
- The same is true when you look at our homeside debt.
According to an EIR study, American consumers, businesses and governments
owe $32 trillion dollars, almost four times everything that the country
produces in a year. Last year, debts increased by $4.91 for every added
dollar of product. The biggest increases have come from big corporations,
which, like Enron, are bankrupt hulks. The cost of servicing this debt
each year is now 55% of our gross national product. The U.S. is bankrupt.
- Time for a reality check. Time for examining LaRouche's
solutions. Call 1-888-347-3258, toll-free, for more information.
- Lyndon was invited to Brazil last week, by the city council
of Sao Paulo, to award him Honorary Citizenship of that city, of 18 million
people, in an elaborate ceremony. See our websites for reports on his
addresses to business, military, and patriotic groups.
- O'Neill's Hoovervilled Trolley
- By Lyndon H. LaRouche, Jr.
Saturday, June 22, 2002
- Those old enough to remember, may recall the famous cartoon
series, "The Toonerville Trolley." Treasury Secretary Paul O'Neill
should remember how President Herbert Hoover went down to disgrace in the
matter of the continuing Great Depression of 1929-1933. Hoover was, personally,
a nice guy. I am informed that O'Neill is, too. The fact remains, that
he is a lousy economist and apparently has a poor memory for crucial facts
of U.S. history.
- Just so you don't forget the connections, think of the
Bush administration as "Paul O'Neill's Hooverville Trolley."
- It was not the 1929 crash that ruined Hoover's Presidency;
it was his repeatedly making exactly the same politically fatal mistake
which the Bush administration's O'Neill and others are making right now.
The people blamed Hoover's predecessors. Calvin Coolidge and Andrew Mellon,
for the 1929 crash; the suffering citizenry came to hate Hoover bitterly
for the latter's promises of a non-existent recovery.
- O'Neill's statement, that the present financial crisis
of Brazil is "an intellectual fiction," is cooking that administration
in the same pot as Herbert Hoover's "chicken in every pot."
The difference between the early 1930s and now, is that the Democratic
Party, so far, refuses to play "Franklin Roosevelt" to Secretary
O'Neill's replay of "Hoover."
- In fact, I am the only notable leading figure in the
world today, who is addressing the need for steps to bring about an actual
economic recovery in the world today. There is a growing number of persons
who are interested in hearing what I have to say, but no leading figure
outside my immediate circles who is presently prepared to tell the plain
truth about the presently onrushing, global economic breakdown crisis of
the present world monetary-financial system.
- To understand why more and more leading and other figures,
such as Secretary O'Neill, repeatedly say the silliest things about the
great issues of this time, is that, despite the fact that they now know
of the proof of my strategic assessments, they are unwilling to face the
reality which I represent. In fact, the most frequent excuse for pessimism
uttered, to my face, by leading circles in various parts of the world,
is that no one in the U.S. government or U.S. party leaderships has the
brains to support my proposals.
- Anyone who thinks that the U.S. population is "not
ready to deal with LaRouche," is being no less stupid in their behavior
than poor old Paul "I'm in a state of denial" O'Neill. For Democrats,
that goes double. The only truthful ones are those who say, "I would
rather go straight to Hell tonight, than be caught saying anything truthful