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Published: Monday, October 28, 2002
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Going into the Nov. 5 mid-term elections in the United States, we are facing the worst financial collapse within living memory, and an Administration in the thrall of Chickenhawks determined to take the country and the world into disastrous perpetual war, starting with Iraq. For the time being, the war drive is jammed up in the United Nations, thanks to the French and the Russians, who have so far rejected the most provocative features of the war resolution submitted to the UN Security Council by the United States and Great Britain.
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As Lyndon LaRouche said in his Oct. 19 webcast, a dramatic change will occur as a result of the Nov. 5 elections. LaRouche emphasized that "we don't know exactly what's going to happen, except we know this Nov. 5 election will be a phase-shift in internal [U.S.] politics, and therefore, in international politics."
What is fundamentally driving this situation, is the onrushing global financial collapse—the most dramatic feature of which, as has emerged into consciousness of those watching the situation, is the simultaneous collapse of the banking systems of the United States, Germany, and Japan. As Richard Freeman reported in last week's issue of EIW:
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The Historical Individual
by Lyndon H. LaRouche, Jr.
In a time of crisis, like today's, the typically failed political leader is like the narcissistic actor who poses for his audience, from on stage, or on camera, while gloating, sotto voce, 'Look at me!' He is more or less indifferent to the reality of the circumstances under which he postures; the objective of his performance, is, like that of a prostitute prowling the tawdry street, merely seduction.
Opinion:
Only Congress Has the Authority To Declare War
by Congresswoman Sheila Jackson Lee — Member, House Judiciary Committee — 18th Congressional District, Texas
This week the United States Congress was asked to make a decision about life, and about death. What will be at stake will be the potential deaths of many Americans in our U.S. military as well as innocent persons in Iraq and the surrounding region
Economics:
Maastricht Stability Pact Is Dead, Awaits Official Burial
When French President Jacques Chirac and German Chancellor Gerhard Schro¨der met in Paris Oct. 14 and announced there should be a 'more flexible interpretation,' a 'more growth-oriented interpretation of the stability criteria' of the European Union's Maastricht Treaty system, it was clear that some profound changes were up in the EU's 'Stability Pact.'
Europe's High Finance 'Faces Stiff Headwind'
The worst meltdown of global financial asset prices since the 1930s, record numbers of corporate and sovereign defaults,and an implosion of investment banking undertakings—like initial public offerings (IPOs) and mergers—are devastating the world's largest financial institutions, and not least in Europe.
FIAT Faces Bankruptcy, Amid World Auto Crisis
Italian automaker FIAT is threatened with bankruptcy as a consequence of accumulated debt, a sales crisis and plunging market capitalization. FIAT's debt at the end of 2001 was 238% of its assets (in 1993 it was 'only' 140%).
Firefighters' National Strike Looms in Britain
It is perhaps one of these endless human paradoxes that the impending firefighters' strike in the United Kingdom had its origins in the tragic events in the New York and Washington Sept. 11 last year.
Mergers, Derivatives Losses Reveal Bankruptcy of the U.S. Banking System
If one were to believe the profit statements reported by the U.S. banks, as dutifully aggregated by the Federal Deposit Insurance Corp. (FDIC), one might conclude that the banks were in reasonably good shape, despite certain ominous clouds on the horizon.
India's Divestment Debate Needs Focus
After months of simmering discontent, the battle in India over divestment (privatization) of public sector units (PSUs) has been joined. After meeting with some of the strongest critics of the divestment policy within his government, Prime Minister Atal Behari Vajpayee stated on Oct. 2 that divestment of the public sector units would continue.
International:
N. Korea Offers a 'Silk Road' Bargain to the United States
The 'North Korean Nukes' story began, curiously, with a late-night 'emergency briefing' Oct. 16, at 10 p.m., by White House spokesman Sean McCormack and Richard Boucher of the State Department—breathlessly announcing news which was 12 days old. U.S. envoy James Kelly had reportedly confronted North Korea on Oct. 4 in Pyongyang, with 'new intelligence,' and forced Pyongyang to admit to a secret nuclear weapons program.
Israel's Greek Tragedy
It was a scene comparable to the Greek tragedy, The Persians, by the great Aeschylos. Dalia Rabin, daughter of slain Prime Minister Yitzhak Rabin, stood before her father's grave. Though a daughter, she was cast in the role of the Queen Mother Atossa before the tomb of the great and wise Darius. Before her stood the solemn faces of Israel's political elite—less one—like Aeschylos' Chorus of Elders, but not as wise.
Venezuela: It's The Economy, 'Chico'
In an Oct. 20 interview with Miguel Angel De Renzis on Radio El Mundo in Buenos Aires, Argentina, U.S. Presidential pre-candidate Lyndon LaRouche gave the following answer to a question regarding the Oct. 27 Presidential run-off elections in Brazil, and the significance of a probable victory by Luiz Ina´cio 'Lula' da Silva. 'Well, it doesn't mean much, this Lula business, in a sense. This is already pre-discounted. That is, it would not be a change in the system, for him to be elected or not elected, really.
New Rebellion Builds
The chronically unstable political situation in Venezuela boiled over on Oct. 22, when a group of 14 active-duty generals and admirals from all four military forces announced that they were rebelling against the Hugo Cha´vez govenment, under the constitutional right to civil disobedience against any government which violates the Constitution.
From Ancient Egypt, To a New Renaissance
All too often, the news broadcast about the Arab world is negative, if not tragic—the plight of the Palestinian people being emblematic. Thus, when events of a happier nature take place, which establish a higher moral standpoint from which to approach a solution, they should be heralded with joy.
Such is the case with the inauguration of the historic Alexandria Library (called the Biblioteca Alexandrina), in the Egyptian city of that name, on Oct. 16. (See Mubarak's speech on page 38 of the article.)
National:
LaRouche: Moonies Are Target Too Big To Be Missed
During an Oct. 19 webcast with Democratic candidates, Lyndon LaRouche responded to a question about how to force a purge of the lunatic neo-conservative and Christian Zionist apparatus from the Bush Administration, and, thus, stop the pending U.S. imperial military mis-adventure against Iraq.
'Fiscal Fascists' Guide State Budget Slashing
There's a $50 billion hole, as of mid-October, in American state budgets, and it will get bigger. Facing disappearing revenues, governors and state legislators are turning to sharp austerity measures to meetthe 'all-powerful Bottom Line,' rather than demanding the nation solve the pervasive revenue collapse with an economic recovery, FDR- or LaRouche-style.
New McCarthyites Target Ritter's 'Waging Peace'
Retired U.S. Marine and former United Nations weapons inspector in Iraq, Scott Ritter, has become a target of those New McCarthyites out to form a nationwide 'thought police' to stifle any criticism of the Utopians' Iraq war in the press, universities, military, or government.
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