LaRouche: More Signs
That the Bubble Is Collapsing
Democratic Presidential candidate Lyndon LaRouche issued the following statement on Dec. 28, 1999.
Remember economist Paul Samuelson, perhaps the most famous of the authors of "Economics 101"? Paul, who taught 1960s university students of the Baby-Boomer years that "built-in stabilizers" would prevent an August 1971 dollar collapse from happening, has a son, Robert J. Samuelson, who regularly writes economics columns for the Washington Post. Robert Samuelson has now [Dec. 28] warned Washington Post readers and other people: "People are acting as if economic risk is declining, when it may be rising."
Samuelson is only one of a growing number of leading senior economic writers, economists, and bankers who are now warning the world against signs of an early collapse <ntin a world-wide financial bubble. Many among these are saying that the current financial boom is nothing but a new tulip craze, a bubble ready to pop.
Some in print, and many more bankers, economists, and statesmen privately, are warning that the world is faced with something far more serious than a stock-market crash. The world's financial system is doomed to a systemic collapse, from which only a radical return to earlier pro-nation-state policies could rescue humanity.
On the darker side, while most people in the upper 20% of U.S. family-income brackets are fanatically deluded enthusiasts for investing in money-management schemes, the insiders in the really top brackets, are getting out of these markets, buying up the kinds of assets which they believe would represent a continuing income-stream even after the total collapse of the existing financial system.
Does this mean that any politician talking about the smart ways to balance the budget is living in a dream-world? Absolutely. What kinds of people are foolish enough, still today, to vote for those kinds of political candidates?