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Published: Monday, July 22, 2002
Today is:
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Volume 1, No.20
Back Issues
Special Announcement:
Hear Lyndon LaRouche, Jr., LIVE, on
The LaRouche Show,
Saturday, July 27, 2002, 3-4 pm. Eastern Daylight Time
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Over the past two weeks, the last delusions that may have lingered, that somehow the economy was on the verge of a recovery, have disappeared as quickly as you can say "401(k)." Since the beginning of the year alone, the major U.S. market indices have lost more than 20% of their value. This fall has accelerated in the past two weeks. The news media are full of talk of panic in financial markets, and "capitulation" is the new buzzword in the financial press.What is happening in the stock markets, and to the U.S. dollar, is but a shadow of what is has been occurring in the real economy for years, indeed for decades.
As Lyndon LaRouche's famous Triple Curve so aptly shows, as production in manufacturing, agriculture, and infrastructure have been collapsed, monetary and financial aggregates have skyrocketed. And as EIR recently showed, total U.S. debt has now reached over $31 trillion as of the end of last year, with the associated debt service of $7.36 trillion equalling 72% of Gross Domestic Product.
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We told you that it couldn't go on; and now, that is evident to just about everyone who thinks about the future.
It is no big accomplishment, under these conditions, that people agree with Lyndon LaRouche. Indeed, one has to be truly deranged, not to agree with LaRouche's assessment of the current monetary-financial collapse.
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This week we go back a mere 33 years, to the anniversary and immediate aftermath of one of the most exciting achievements of the United States on behalf of all mankind, the first human landing on the Moon. Given the cultural devolution which has occurred since then, it seems we might be talking of a much more distant era, even light years away. But, as the phase shift away from the national mission for scientific and technology progress proves itself to be a murderous failure, our recollection of the Apollo 11 mission might serve to turn us back on that successful track.
The Moon landing occurred on July 20, 1969. A team of three astronauts—Buzz Aldrin, Neil Armstrong, and Michael Collins—carried out the flight, as millions of people, in America and around the world, watched or listened to the earth-shaking event. It was Armstrong who was the first human to set foot on the Moon, and who memorialized his action with a statement that should echo proudly in our nation's history: "That's one small step for man ... one giant leap for mankind."
The context for the American Moon landing is usually presented as the United States' response to the Soviet space program, a "space-arms race," if you will. In fact, it was much broader than that. For decades before President Kennedy's May 25, 1961 announcement that America would commit itself to putting a man on the Moon by the end of the 1960s, a group of scientists, many of them from the Leibnizian tradition in Germany, had nourished the dream, and worked on the science, that would permit human space flight. Their outlook intersected that of a grouping of policy makers around the incoming President Kennedy, who understood the necessity for what Lyndon LaRouche would later call a science driver for an otherwise languishing U.S. economy.
The U.S. economy was, in many ways, "up against it" when President Kennedy came into office. It was a matter of national concern that the U.S. cities were in a shocking state of decay, that vital sections of national infrastructure, including water and energy, were in desperate need of revitalization, and senior citizens enmired in poverty. President Kennedy's first initiatives on the economy involved the enactment of the Investment Tax Credit (to preferentially tax those who spent more on new plant and equipment), and the setting of goals to resolve pressing problems in the areas of natural resources, education, and health care.
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Presidential Candidate Lyndon H. LaRouche, Jr.
Credit: EIRNS/Stuart Lewis
FLASH!
The July 19-26, 2002 issue of the Russian weekly newspaper Vek ("The Age") contains an interview with Lyndon LaRouche in which the American economist and Presidential candidate addresses the systemic nature of the current world financial crisis, and indicates the way out. The interview is posted in the electronic edition of Vek (www.wek.ru), under the headline, "Lyndon LaRouche: 'The Fate of the Roman Empire Awaits the USA.'" It is the lead article in the economics section of Vek online, appearing on page 6 of the print edition.
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Links to articles from Executive Intelligence Review*.
*Requires Adobe Reader®.
Feature:
The Global Systemic Crisis and the End Of 'Free Trade'
by Lyndon H. LaRouche, Jr.
Mr. LaRouche gave this speech on June 11 to a conference organized jointly by the Alumni Association of the Superior War College (ADESG) and EIR, in the auditorium of the Latin American Parliament in Sao Paulo. For coverage of other events during LaRouche's visit to Brazil, see EIR, June 28 and July 5, 2002.
Japan Elites See 'New 1971' Dollar Crisis
Is Asia starting to reject the 'Wall Street Model' of deregulation? Is it Japan'9;s economy which is about to blow up the global financial system, as Moody's Investors' Service claims?
Africa Suffers Far Worse Than Food Crisis
Africa is in the throes of the worst crisis it has faced since the 1960s 'Winds of Change,' when nationalist movements emerged to force the colonialists to take down their flags.
The Importance of Jean Monnet For Today's Troubled World
It has become a pressing concern in Europe, as well as elsewhere, that the nations of the Continent, growing together in the European Union, should play an effective role in the world.
Fear of Financial Collapse Fuels Iraq War Drive
When on July 15, with stock markets diving, President George W. Bush proclaimed that 'our economy is fundamentally strong,' the international press was quick to point out that Bush was repeating almost verbatim the dictum of Herbert Hoover on Oct. 25, 1929, 'The fundamental business of the country, that is production and distribution of commodities, is on a sound and prosperous basis.'
Has India Abandoned Its 'Monroe Doctrine'?
The keystone ofNewDelhi'9;s regional policy during the 1970s and 1980s was its deep-rooted suspicion of foreign powers meddling in the region.
UN's Rwanda Tribunal Tainted by Expediency
The proceedings at the International Criminal Tribunal for Rwanda (ICTR) in Arusha, Tanzania, raise serious doubts whether it will serve the purpose of contributing 'to the process of national reconciliation and to the restoration and maintenance of peace' in Rwanda, as stated in United Nations Resolution 955 which set up the tribunal in November 1994.
Draconian 'Anti-Terror' Laws Passed
The Australian Parliament on June 27 passed the most far-reaching changes to the nation's legal system since World War II.
Fascist William Buckley Put Joe Lieberman in the Senate
It is a bizarre truth, but one that American voters need to know, that National Review founder and 'Catholic' fascist William F. Buckley made the Senate career of Democratic Presidential threat Joseph Lieberman.
Campaigning for Governor With FDR-Democrat Policies
Nevada State Sen. Joe Neal (D-North Las Vegas), is expected easily to win the September Democratic Party primary for Gubernatorial candidate, and is campaigning to unseat the incumbent, Republican Gov. Kenny Guinn, in November. Neal was interviewed on July 10 by Marcia Merry Baker.
Homeland Security Hits Congress Meat Grinder
Pundits on Capitol Hill are fond of saying that making law is like making sausage.
Insane U.S. Military Utopians Use Video Games To Plan Iraq War
A team of computer-science professors and programmers hired by the Department of Defense, is using Internet video games to prepare soldiers for an invasion of Iraq.
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| View This week's Almanac Section*, as a long .pdf file. |
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