|This statement appears in the January 7, 2000 issue of Executive Intelligence Review.
LaRouche: More Signs
That the Bubble Is Collapsing
Democratic Presidential candidate Lyndon LaRouche issued the following statement on Dec. 28, 1999.
Remember economist Paul Samuelson, perhaps the most famous
of the authors of "Economics 101"? Paul, who taught 1960s university students of
the Baby-Boomer years that "built-in stabilizers" would prevent an August 1971
dollar collapse from happening, has a son, Robert J. Samuelson, who regularly
writes economics columns for the Washington Post. Robert Samuelson
has now [Dec. 28] warned Washington Post readers and other people:
"People are acting as if economic risk is declining, when it may be
Samuelson is only one of a growing number of leading senior
economic writers, economists, and bankers who are now warning the world against
signs of an early collapse <ntin a world-wide financial bubble. Many among
these are saying that the current financial boom is nothing but a new tulip
craze, a bubble ready to pop.
Some in print, and many more bankers, economists, and
statesmen privately, are warning that the world is faced with something far more
serious than a stock-market crash. The world's financial system is doomed to a
systemic collapse, from which only a radical return to earlier pro-nation-state
policies could rescue humanity.
On the darker side, while most people in the upper 20% of
U.S. family-income brackets are fanatically deluded enthusiasts for investing in
money-management schemes, the insiders in the really top brackets, are getting
out of these markets, buying up the kinds of assets which they believe would
represent a continuing income-stream even after the total collapse of the
existing financial system.
Does this mean that any politician talking about the smart
ways to balance the budget is living in a dream-world? Absolutely. What kinds of
people are foolish enough, still today, to vote for those kinds of political