A Breakdown Crisis Beyond What FDR Faced; Take the Right Steps, and Take Them Now

EIR Founding Editor Lyndon LaRouche forecast what is now occurring, “the biggest financial crisis in modern history.” He had stated in public discussions over this weekend what was apparent to him on Friday: That the biggest crash of the trans-Atlantic financial community in modern history had occurred, and would become rapidly manifest.

That was stated in the LaRouchePAC report Do You Have the Guts to Face the Truth—And Act in Time?, and on Monday LaRouche’s forecast was confirmed and will continue to be confirmed in coming days.

The Wall Street institutions are blowing out completely. This is a total collapse of the financial system from which no normal recovery is possible, only extraordinary measures as LaRouche has defined them. The degree of destruction to the lives of the American people and those in Europe, and to their children’s futures, is far worse than has happened before, even in the Great Depression precedent.

The breakdown is incurable by any bailouts or similar schemes. Wall Street has to be shut down, now.

The crisis can have an optimistic outcome, if the American people are organized to support action now, and international cooperation takes place.

An FDR-modeled clean-out of those assets and shutdown of those Wall Street/London banks is necessary—as with President Franklin Roosevelt’s first actions after his 1933 inauguration. The Glass-Steagall principle is the principle upon which to launch this action, in order to avoid panic and chaos.

This crisis is far greater than what FDR faced. As LaRouche stated Monday morning, while markets plunged as he’d said they would:

What is required is immediate creation of a new system of credit — again as FDR did — to restore productivity and productive work, attack the great needs of modern infrastructure, and deal with the lack of productive skills, especially among younger people. We have to restore the confidence of the American people, which has been ruined with the destruction of their employment and their qualifications.

This is the worst financial breakdown in our history. In effect, the “100 Days” of a new Presidency must now start; these actions cannot be taken with Wall Street’s Barack Obama in office.

LaRouche said: “We’re on the edge of thermonuclear World War III, unless we can stop Obama…And the key to the answer, is the financial breakdown crisis. Restore the confidence of the American people, by getting Obama out.”

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