"The last superpower" in the debt loop


One hot summer day in Rome gathered MPs, economists, church leaders and civic organizations - more than a hundred people. He performed in front of them well-known American economist Lyndon LaRouche. He spoke forcefully about the complete bankruptcy of the current monetary system and proposed a new Bretton Woods conference. Establishment of a new global monetary system, according to LaRouche, will create conditions for the global economic recovery. In particular, through the issuance of long-term low-yield loan commitments intended for large-scale investment projects. One such project is proposed by LaRouche - the creation of the Eurasian bridge.

Lyndon LaRouche was the keynote speaker and other conferences. With good reason we can say that today he - one of the most popular politicians in the world. Analysts R. Freeman (Richard Freeman) and John Hoefle (John Hoefle) produced a publication for the newsletter published by Lyndon LaRouche Executive Intelligence Review1, which give a picture of a tough U.S. economy, tighten the noose of debt, and argue that the epicenter of the global systemic crisis are United States <last superpower "and" importer of last resort> from around the world. Translation of the article <Sun> publish, with the consent of the authors and Lyndon LaRouche.

Pyramid through the roof


The rapid growth of U.S. government debt creates the conditions for hyperinflationary explosion both in the States and around the world. By the end of 2001 the total U.S. debt reached $ 31.12 billion. On average, during the last four years, domestic debt grew at a rate of U.S. $ 2.2 trillion. per year, nearly $ 200 billion a month!

The debt pyramid has become so high that it can not be sustained. Moreover, each new attempt to destroy her service as the real economy and its bankrupt financial system. By the end of last year, annual payments of U.S. interest plus principal payments on loans reached gigantic size of $ 7.36 trillion., Equivalent monstrous value - 72.1% of gross domestic product!

Bubble age in three decades

U.S. debt bubble goes back to the mid-1960s, to the actions of financiers City of London and Wall Street, have influenced the development policies of post-industrial society. This policy has led to a sharp decline in production in industry and agriculture, to the shrinkage of infrastructure, it has contributed to the development of speculation that has created huge financial bubble. The real economy began to decline by 1-2% annually.

Three key points have led to the consolidation policy of post-industrial society. The first - when President Richard Nixon August 15, 1971 pulled a dollar from zolotorezervnogo standard, which led to the separation of financial flows from the streams of industrial products. The second took place in October 1979, when the chairman of the Federal Reserve Paul Volcker went on about policy <controlled disintegration of the economy> and removed all restrictions on the growth of bank rates. As a result, the base lending rates of commercial banks jumped as much as a year to 21.5%, which had a depressing effect on the real economy.