Obama’s Speech Will Be a Big Lie; Don’t Let It Stand

It’s essential to be clear before Barack Obama gives his last State of the Union Tuesday night, that it will be a fraud and a lie.

Obama will claim to have brought about an “American economic recovery.” He will trash China, whose economy is growing and spreading growth in a way the U.S. economy is not, and Russia, the British geopolitical target for war.

The American people’s reply should be, “Stop this bullshit.”

The trans-Atlantic financial system has gone into a rolling crash. It was finally triggered on Jan. 1 by the imposition of “bank bail-ins”—better called “expropriations on behalf of bankrupt banks”—which was legislated by Obama and Rep. Barney Frank in order to prevent the re-enactment of Roosevelt’s Glass-Steagall Act.

The effects of this “bank bail-in” policy have already reached the stage of severe austerity and impoverishment in Italy, in Spain and Portugal and Cyprus. They will soon reach the stage of killing large number of people in Europe and the United States.

Wages are falling. Oil and commodity debt is blowing out. Exports and imports are both falling; world trade is dropping. The World Bank warns of a “dramatic slowdown” and an “economic perfect storm” in 2016. The “great job growth” Obama will claim is this: lots of low-wage or part-time jobs being taken by older people who can’t afford to retire or even to work one job at 60; the middle-aged workers immediately behind them, who used to earn good wages, losing employment, month after month, and killing themselves with drugs, suicides, alcohol.

Obama will lie about his immigration policy as well, and about managing wars: He is in fact a President of perpetual, illegal, unconstitutional, disastrous wars which spread terrorism and refugee flight; and of drone wars in which he personally, weekly chooses the people to assassinate.

But his biggest big lie will be about “recovery.” Washington media and Congress are coddling him while all financial media carry warnings, “Crash ahead: Prepare for the worst, right away.”

If a President informed by EIR Founding Editor Lyndon LaRouche’s economics were in office, the problem would be solved. The problem is worthless “assets,” banks loaded with bad debts. The Wall Street casino must be shut down, immediately. Take a lesson from President Franklin Roosevelt in the 1930s and ’40s. Wall Street is the problem, shut it down. Then create a fund of national credit to replace the “lost money” with productive employment and new economic productivity.

Obama’s lies on Tuesday night should be called out in advance; and they should lead to his being dumped, fast. Or this collapse will get much worse and more deadly than 2008.