The Fed is Worthless; Junk Wall Street & Green Policy
Lyndon LaRouche had the following comments upon being briefed on the responses to EIR from several economists on the Fed's non-action regarding interest rates, and Janet Yellen's lying justification of that non-action:
The United States refuses to recognize the truth, that Wall Street is preventing a recovery. We must write it down to its true near-zero value. We have a more extreme case than FDR faced when he closed down Wall Street, but it must be wiped out or there will be no recovery.
In Europe, the Green policy is the most aggravating factor in keeping Europe down. There is a match between getting rid of the Green policy and dumping Wall Street.
"Chaos" is an understatement of this thing. People won't listen—we must shut down Wall Street. To do so we must throw Obama out of office. Look at Wall Street in the 1920s and 30s, and see what FDR did. The situation is far worse now than in FDR's time. There are nothing but pseudo values in the banks—write them down!
Go back to Bertrand Russell's influence at the beginning of the 20th Century, together with the assassinations of American presidents. Bush, Cheney, Obama—four terms of this—would every week issue reports on the "easing" that week, every week getting more and more quantitative easing, instead of putting the whole thing through bankruptcy then and there.
We have lowered the productivity of labor, with the Green policy and the quantitative easing. Now Wall Street is hopelessly bankrupt. It's not the dinasaurs going extinct—it's the bankers.