Thursday’s stock-market “bump” was nothing but a bail-out operation to try to fool everybody. We should denounce it: it’s a bail-UP operation. Just as one example: while stock trading, or stock pumping was going on on Thursday, the Department of Commerce revised second-quarter Gross National Product growth up from a 2.3% annual rate to 3.7%. At the same time, Gross National Income, which should be exactly equal, increased only at a 0.6% annual rate.
This phony stock boom is going to be temporary. It’s only a temporary effect; it can’t be anything else; it’s a fraud. Because what they did, is they just pumped things up artificially, and pretended there was improvement. They also lied that it was China that has collapsed,— although many people are not stupid enough to believe that.
Today, tomorrow, and every day from now on, we must pre-empt Wall Street throughout the day. We can’t just sit there and let Wall Street say things; we have to pre-empt and close down Wall Street.
We have to prevent the Wall Street crash from annihilating the national economy. If we allow Wall Street any control over the economy, there will be a complete breakdown of the US economy. We can’t just sit there and let Wall Street make claims: instead, we have to pre-empt and close down Wall Street. Force the issue back to the Presidency. The US Government must act to insure the protection of the US economy from Wall Street.
Shut down Wall Street, and defend the US economy from the Wall Street people. Lyndon LaRouche is signalling this throughout the nation— and everyone who stands with him is signalling the same thing.
There is an obvious parallel between today and the crisis of Franklin Roosevelt’s first 100 days in office,— with the exception that then, Roosevelt had solved the problem. But not only is the present collapse worse than that of 1933,— but the present team only knows how to make it still worse and worse.
Roosevelt actually brought about a solution. The problem is that Franklin Roosevelt’s intentions were frustrated by the Wall Street faction immediately after his death,— even before his death.
The present Administration is not only a failed effort to replay what Franklin Roosevelt did; this thing is utterly incompetent. It threatens the extinction of the human species. Obama’s policies in particular, represent a threat to the existence of the human species. That’s the thing to say; it is that.
There is a crisis today which does have a comparable feature, but there is a great difference. From the beginning of Franklin Roosevelt’s term, everything was good. Whereas from the beginning of Obama, everything has been increasingly bad. The US government must do what Franklin Roosevelt would do if he were alive today; it must act against Wall Street as Franklin Roosevelt did.