On July 25th 2007, American Economist Lyndon H. LaRouche, Jr. forecast the imminent collapse of the world monetary-financial system. Days after his presentation, that process immediately began to play out in a series of public revelations.
Since his first public forecast in 1956, while an executive for a management consulting firm, LaRouche has never been incorrect about any forecast he has made. Thus, what he identified in his 2007 presentation was easily foreseeable to him due to his competent method and approach to the subject of economy, most notably physical economy. In the years preceding 2007, the “experts” in banking and economics failed to see what had been obvious to LaRouche, as they clung to an idolatrous belief, as in a religious cult, in the financial bubble feeding-machine of former Federal Reserve Chairman Alan Greenspan. They had believed that the US housing bubble represented the strength of the US economy, a housing bubble which in their eyes would never fail, whereas, in fact, it was as LaRouche had identified: a useless, speculative game whose sole purpose was to keep money flowing into a failing banking system as the physical economy was left to rot.
When the housing bubble popped in the summer of 2007, LaRouche immediately intervened on the foreseeable banking crisis with the introduction of his “Home Owners and Bank Protection Act of 2007” (HBPA), as the only workable solution. This model legislation outlined the elements of what would effectively constitute a firewall to prevent the collapse of the housing bubble from impacting an already looted population, including a necessary protection of essential (non-speculative) components of the US banking system. State legislators, city governments and many union officials responded on behalf of their constituency by endorsing the HBPA and urging the federal government to enact the policy as law. Congress, led by such infamous personalities as Barney Frank, Nancy Pelosi, Chris Dodd, and Barack Obama, choose instead to “bail-out” the system, and now because of the decision by both the Senate and the House of Representatives for a “Bail-Out” rather than an implementation of LaRouche's HBPA, the United States and the planet as whole are on the verge of entering a planetary-wide, hyperinflationary, “New Dark Age”. Had the US Federal Government implemented LaRouche's HBPA then, the world today would have been in a completely different position. Instead the Congress choose to give in to the bullying of those virtual Tories, Senator Chris Dodd, and Representative “Bail-Out” Barney Frank and similar scumbags.
This resolution is the updated version of the original 2007 resolution. The same principles apply.
Presentation by Lyndon H. LaRouche Jr. Lyndon LaRouche, in discussions on Sept. 7, addressed this situation of the growing polarization in Washington and elsewhere in the country, over the LaRouche policy for resolving the crisis, versus that of the hedge funds.
By John Hoefle. Lyndon LaRouche has some advice for the two presidential candidates, and for all candidates running in the coming elections: Stand up and denounce the Bush/Paulson bankers' dictatorship bailout scheme. The American public has made their position loud and clear, no bailout for the parasites of Wall Street.