|This article appears in the July 31, 2009 issue of Executive Intelligence Review.
The Ultimate October Surprise
Lyndon LaRouche has issued a pointed warning: The final collapse of the entire global financial system is just months away, and the window is rapidly closing on the last, best opportunity to avert a global plunge into a Dark Age that will make Europe's plunge in the 14th Century seem mild by comparison.
By LaRouche's estimate, as things stand now, the close of the fiscal year, on Sept. 30, will mark the onset of a full-scale financial crash, by no later than mid-October, once the year-end figures have been presented, and the panic sets in. LaRouche has never been wrong in any of his long-range forecasts, and the last time he gave such a precise date for a financial shock, was in the Summer of 1987, when he warned that the financial bubble was going to burst sometime in October. He was right then, and he is right today.
Recent studies show that 48 U.S. states are fundamentally insolvent. While official unemployment is hovering just below 10%, in some former industrial states, like Michigan and Ohio, the figure is more than double that amount. Only 29% of the currently unemployed are receiving benefits, with 38 states behind, or unable to enroll the newly unemployedbecause they have run out of money!
As a growing number of economists are coming to realize, LaRouche has been right: This is not a recession. It is not even a Great Depression. This is the collapse of the entire global dollar-based financial system. The insane policies of both the Bush and Obama administrations have created the greatest financial bubble in history, through the $24 trillion bailout of the banks and insurance companies. We are on the verge of Weimar hyperinflation on a global scale.
Had Congress the guts to act, when LaRouche first warned that the collapse was on, in his now-famous July 25, 2007 webcast, the system could have been reformed. LaRouche spelled out the precise steps that could have been taken then, in his Homeowners and Bank Protection Act (HBPA). State legislatures and city councils around the United States endorsed the HBPA at the time, but no action was forthcoming from Washington.
No reform of the system is possible. The entire system must be put through bankruptcy reorganization. Nothing else will work, and time is running out. Unless emergency action is taken by the second week in October, mankind is facing a living Hell, in which world population will rapidly plungethrough disease, famine, and the chaos of regional warsto below 2 billion people.
What is to be done? The first step is to deliver a crushing defeat to President Obama's and his economic team's prescription for a Nazi-modelled euthanasia plan, dubbed "health-care reform." By defeating this genocidal scheme, the opportunity will arise to purge this new administration of the likes of Larry Summers, Tim Geithner, Peter Orszag, and the rest of the behavioral economists behind this Hitlerian scheme to declare whole segments of the populationstarting with the elderly and the chronically illas what Hitler called "lives not worthy of living."
On the basis of that defeat, a new team of economists, grounded in the reality of this existential crisis, can be brought in. LaRouche has spelled out how to put the current system through bankruptcy reorganization, and to reconstitute the kind of credit system conceived by Benjamin Franklin and his brilliant protégé Alexander Hamilton.
It's either LaRouche's solution or a Dark Age. You decide.