London Paints Charts Upside-Down
Sept. 21, 2009 (EIRNS)This statement by Lyndon LaRouche was released today by the Lyndon LaRouche Political Action Committee (LPAC).
As if to imply that all Britain is moving about, quite merrily, with the top of its skull sliding along the pavement, today's London Daily Telegraph, not surprisingly, features its economics editors crafting their charts on Pound/Euro trends, both inside-out and backwards.
When one thinks about that the trick played by the Telegraph chart-room, the trick is elementary. Instead of showing the Euro as falling in price relative to an actually falling value of the Pound, it attempts to make the silly case that the Pound is soaring mightily, if only relative to the Euro. All in all, it amounts to about the same thing as taking pride in the wealth of a London beggar who had just lost his shoes, compared to the plight of the barefoot continental who had just lost his socks, and, perhaps, his trousers, too.
However, it is not just that. It should be the rather obvious point of the Telegraph's little trick, to divert attention from the serious fact, that the entire planet's present economy is about to go over the cliff. The only good news which the Telegraph might find in that, is that that little trick with the art-work does tend to explain away the fact the Ambrose Evans-Pritchard has made such dull reading during recent months.
There are serious reasons that I find worth my noting here.
The actually relevant point which those Telegraph chartists seem to find it convenient to overlook, is that the oncoming month's close of the U.S. Federal fiscal year, presents every part of the world with the terrifying reality of the effect of what has been a greatly strained effort to conceal the presently pending collapse of U.S. President Obama's U.S. Dollar. The most desperate hope of every genuinely witting, and also non-suicidal, financial and related trader in the world today, is that the Dollar will not take that dive, a very deep dive, indeed. The chain-reaction consequences of such an event could be a general break-up of the economy of every nation-state on this planet, that in rapid order.
These are times, like this, when the most important things to be said, fall, discarded, to the chart-room floor.