Subscribe to EIR Online
This article appears in the December 26, 2008 issue of Executive Intelligence Review.

Countdown to January 20

[PDF version of this article]

From all indications, the outgoing Bush Administration is determined to do its damnedest to accelerate the current catastrophic financial and economic crisis during its last month in office—leaving incoming President Barack Obama with a new series of disasters, including a potential dollar crisis. Both leading economist Lyndon LaRouche, in a statement issued Dec. 19, and House Appropriations Committee chairman David Obey, denounced the latest Bush Administration measures as willful sabotage.

The sabotage includes the insane hyperinflationary reduction of interest rates to near zero; the so-called auto bailout, which will do nothing to save the industry, but will destroy the living standards of the most skilled American workers; and the drive by Treasury Secretary Paulson to seize the second $350 billion tranche of the banking bailout.

In this transition period up to the Jan. 20 inauguration, President-elect Obama cannot jump into the fray on current economic policy. In fact, while he has given indications of wanting to move in a Franklin Roosevelt direction, he has apparently not determined on his course of action. Therefore, the only rational course of American patriots who wish to save this nation, is not to "wait for Obama," but to fight with a total commitment to implement the recovery programs which have been laid out by Lyndon LaRouche.

While he forecast the current bankruptcy breakdown decades ago, LaRouche has been specific about what has to be done since the end of the July 2007, when the current phase of the blowout began. He outlined the three points of the Homeowners and Bank Protection Act—which remain valid today. He put forward the Economic Recovery Act of 2006—which called for protecting the machine-tool capacity of the dying auto industry by putting it under a Federal corporation, which would begin to utilize it in building up the nation's vital infrastructure.

Contrary to the current Democratic Party leadership, LaRouche has insisted that nothing will be accomplished by simply throwing money—even the $1 trillion now being considered—at the problem of joblessness and economic breakdown. The first step has to be declaring the bankruptcy of the system, and setting aside the unpayable mass of derivatives and other dubious debts. Unless we face the fact that these gambling debts will never be paid, we will get nowhere.

Simultaneously, we have to mobilize Federal credit for retooling the machine-tool capacity now being idled, and put it to work building vital infrastructure. "Don't talk about money," LaRouche said in a Dec. 18 statement. "Say, 'We need a rail system, so that people don't have to commute three hours a day. We need power systems, emphatically nuclear power. We need water systems, and upgraded river transport.' "

As LaRouche has emphasized, if this programmatic approach is not adopted by the Obama Administration, we are looking at Hell on Earth. If it is, there is a chance that LaRouche, through the power of his credibility in places like Moscow, Beijing, and New Delhi, can organize the Four-Power combination needed to defeat the British Empire's all-out assault on the very survival of the United States, which is the crucial obstacle to the descent of the entire world into a New Dark Age.

It's worth repeating: Don't wait for Obama to come up with the plan to save us. LaRouche has already done that. What is needed now is an all-out mobilization to ensure LaRouche's plan goes into effect—and that those who seek to block it are removed from power.

Back to top