The West did not go around the planet pillaging, exterminating, enslaving, colonizing and murdering millions of people to set up their capitalist system, only to see it end because of the excesses of a few wall street bankers. That is why those African people who are counting on Obama to make radical changes to the system will be sorely disappointed. They are prepared to do whatever is necessary to keep this slave system alive whether it is choosing a black man as president or bailing out Wall Street. It is the rest of the world that is naïve and needs to wake up to reality. Hort
LaRouche: Bank Bailout Atrocity Was Passed by Fraud!
03 Oct 2008
October 3, 2008 (LPAC)--In response to the shameful and immoral capitulation of the U.S. House of Representatives today, in passing the Paulson bailout bill with a vote of 263 to 171, American statesman and economist Lyndon LaRouche stressed that this vote was accomplished by fraud. When the Congress, including both major Presidential candidates, told their constituents that the bailout was necessary, they didn't mention that among the major institutions lining up to be bailed out are foreign interests, LaRouche said. British, Dutch, and Spanish banks are all lining up to demand hundreds of billions of dollars from the U.S. taxpayers.
"They lied,'' charged LaRouche. "And when the average citizen confronts his Representative on this fraud, the politician will just say, 'We lied. They told us we had to do it, and we lied.''' As LaRouche laid out in his Oct. 1 webcast, the result of the bailout will be to bring on devastating hyperinflation, and an explosion within the American population, akin to that which characterized the French Revolution. "Don't you see the hatred you are building up against Washington, in the people of the United States?'' he asked.
In the wake of the Congressional vote, motivated as it was by fear, LaRouche urged citizens to rally to his leadership. We're in this devastating crisis today because people did not rally to my HBPA and other positive actions back in August 2007, Larouche said. Don't be provoked into irrational actions. Rally behind the leadership which has the remedies--and force them through now.
Empire On "E"
Mumia Abu-JamalIn a matter of months, a new man will take the oath of office for the presidency. Whether he is the oldest in history, or the first Black one, of one thing we may be certain. He will be hobbled by a sea of red ink, and therefore bereft of most of the resources to bring his campaign promises to reality. For as the fires continue to rage throughout the financial markets, they will turn tax returns into smoke. Don't expect any of them to tell you this, but you can rest assured that all of them know it. And if the office of the Imperial presidency will be strapped for resources, what of average folks? As an old saying (sorta) goes, 'stuff rolls downhill.' As businesses tighten up, credit tightens up, and spending tightens up.
This economy (as even the Mad Prince Bush has urged) relies on consumption, or shopping, to function. Anything that weakens this process has a whiplash effect throughout the economy. Earlier this year, American financier George Soros announced, shortly after the failure of the economic talks at Davos, Switzerland, that the U.S. economy has reached a new stage marking an end of the era. "The current crisis is not only the bust that follows the housing boom", Soros explained, adding, "It's basically the end of a 60-year period of continuing credit expansion based on the dollar as the reserve currency."
Soros made these observations in January of 2008.Things have obviously gotten considerably worse since then. The economy is increasingly coming under state control, and social wealth is being aggregated to protect private capital. What created this crisis was rampant crony capitalism, and unless that is addressed by deep structural transformation, these problems will only worsen. That is virtually inevitable.
Just as the White House saddled the next administration with disasters in foreign policy, they have effectively stolen the public purse. So, ultimately, it won't matter who gets elected, because he'll be too broke to do anything.
Disaster Capitalism in Action
Now is the Time to Resist Wall Street's Shock Doctrine
September 22, 2008
I wrote The Shock Doctrine in the hopes that it would make us all better prepared for the next big shock. Well, that shock has certainly arrived, along with gloves-off attempts to use it to push through radical pro-corporate policies (which of course will further enrich the very players who created the market crisis in the first place...).
The best summary of how the right plans to use the economic crisis to push through their policy wish list comes from Former Republican House Speaker Newt Gingrich. On Sunday, Gingrich laid out 18 policy prescriptions for Congress to take in order to "return to a Reagan-Thatcher policy of economic growth through fundamental reforms." In the midst of this economic crisis, he is actually demanding the repeal of the Sarbanes-Oxley Act, which would lead to further deregulation of the financial industry. Gingrich is also calling for reforming the education system to allow "competition" (a.k.a. vouchers), strengthening border enforcement, cutting corporate taxes and his signature move: allowing offshore drilling.
It would be a grave mistake to underestimate the right's ability to use this crisis -- created by deregulation and privatization -- to demand more of the same. Don't forget that Newt Gingrich's 527 organization, American Solutions for Winning the Future, is still riding the wave of success from its offshore drilling campaign, "Drill Here, Drill Now!" Just four months ago, offshore drilling was not even on the political radar and now the U.S. House of Representatives has passed supportive legislation. Gingrich is holding an event this Saturday, September 27 that will be broadcast on satellite television to shore up public support for these controversial policies.
What Gingrich's wish list tells us is that the dumping of private debt into the public coffers is only stage one of the current shock. The second comes when the debt crisis currently being created by this bailout becomes the excuse to privatize social security, lower corporate taxes and cut spending on the poor. A President McCain would embrace these policies willingly. A President Obama would come under huge pressure from the think tanks and the corporate media to abandon his campaign promises and embrace austerity and "free-market stimulus."
We have seen this many times before, in this country and around the world. But here's the thing: these opportunistic tactics can only work if we let them. They work when we respond to crisis by regressing, wanting to believe in "strong leaders" - even if they are the same strong leaders who used the September 11 attacks to push through the Patriot Act and launch the illegal war in Iraq.
So let's be absolutely clear: there are no saviors who are going to look out for us in this crisis. Certainly not Henry Paulson, former CEO of Goldman Sachs, one of the companies that will benefit most from his proposed bailout (which is actually a stick up). The only hope of preventing another dose of shock politics is loud, organized grassroots pressure on all political parties: they have to know right now that after seven years of Bush, Americans are becoming shock resistant.