Letter: Economy and recovery programs needed
To the Editor:
We dumped the best principles of the Constitution when we dumped Glass-Steagall and New Bretton Woods. In the land of the clueless, have we become too immoral to survive? The problem should be obvious. The real cause of the present economic crisis, deindustrialization, driven by “free trade” agreements and anti-growth greenpolicies, has led away from goods production, into employment in the “service” and “consumer” sectors — with lower wages and less benefits. Federal reserve policies which provide quick, cheap cash to speculators to purchase stocks and bonds, knowing they can sell these instruments to the Fed, may keep the banks and other financial institutions in business for the time being, but will not rebuild the real physical economy, necessity to escape an economy driven by low wages, high unemployment and employees often trapped in dead-end, non-productive jobs. With all the freshly created liquidity flowing to the spectators, there is virtually no credit which can be made available to producers and infrastructure.
What is needed is a recovery program, transforming what LaRouche called “physical economy;” those activities engaged in physical goods production, and new technologies based on scientific research and development, which increase productivity. LaRouchePAC has published a new report, “The LaRouche Plan to Reopen the U.S. Economy: The World needs 1.5 Billion New Productive jobs,” which, if implemented, would generate a transformation of the real economy.
No amount of statistical manipulation or wishful thinking will make the BlackRock plan an engine for anything but creation of more debt, a short-term reprieve for speculators, further deterioration of the physical economy and lead to a hyperinflationary collapse. This is not inevitable, but immediate action, as specified in the “LaRouche Plan” is required, to take economic policy away from speculators and neoliberal apologists. It’s time to re-establish the Constitution to the principles of Washington-Hamilton, Lincoln-Cary, FDR-Wallace and go Trump-Larouche. This is in keeping with the best periods of economic growth in U.S. history. The Constitution was written by those who placed the “general welfare” ahead of private gain. It’s time for Larouche’s new paradigm.