Glass-Steagall Now, or No Labor Movement Left
July 31, 2012 • 12:53AM

Lyndon LaRouche Monday warned that the world is now on the verge of a chain reaction financial collapse, that is likely to hit in early August. If there is no Glass Steagall enacted in the United States in the immediate days ahead, the trade union movement is likely to be destroyed or simply cease to exist.

LaRouche made these remarks in the context of the upcoming Aug. 11th Philadelphia trade union rally, and the immediate fight to assure that Congress remains in session in Washington until Glass Steagall has been passed. "We can avert the onrushing collapse only if Glass Steagall is pushed through now," LaRouche declared. "If Members of Congress have any sense, they will stay in town and put through Glass Steagall. The alternative is that they will face lynch mobs if they go back to their districts empty handed."

LaRouche reiterated that the very survival of the trade union movement in the United States depends on whether labor gets fully mobilized to force Glass Steagall through now. "Nothing can save the labor movement unless Glass Steagall is enacted immediately. We have strong indications that there may be a general breakdown collapse in early August, and if that happens, there will be no more trade unions of any significance—because we will be facing a total economic disintegration, and possibly a thermonuclear war. This is my message to the labor movement, going into August. August is a new month, and the entire trans-Atlantic financial system is set to blow—unless Glass Steagall is enacted, which is the one thing that can avert the collapse."