The Collapsed Economy Isn’t Coming Back—Schiller Conference April 25-26 Charts a New Paradigm

re posted from                                   E.I.R DAILY ALERT SERVICE

The 50-year run of austerity for the sake of the benefits of free trade is over.

The cause of this pandemic crisis is no country, no one leader, and no virus—it is the unpreparedness of the last 50 years’ casino-speculation system to save lives, or face great threats to human life of any kind.

The Collapsed Economy Isn’t Coming Back—Schiller Conference April 25-26 Charts a New Paradigm

April 20 (EIRNS)—Forget the technical talk about the meaning of a negative price for oil, the first such in history. It is just one signal—that the globalized, financialized, City of London-Wall Street economy in which most have lived their adult lives, and which has collapsed across trans-Atlantic nations at the imposition of public health quarantine measures, is not going to come back. The 50-year run of austerity for the sake of the benefits of free trade is over.

Those who now insist that they want to “restart this economy” will not be able to revive the shale oil industry. They will not soon revive the airline industry. They will not be able to revive the residential and commercial construction industry, or restart more than a part of the auto industry. More can be listed. The $5 trillion the Federal Reserve has printed and promised to Wall Street, the City of London, Frankfurt, Tokyo banks—that $5 trillion it is lending banks and hedge funds and private equity funds to bail out now-worthless assets like oil price derivatives—it is impossible that such hyperinflationary operations can co-exist with reviving an actual economy.

What if someone is talking about “reopening the economy” and yet saying nothing about the Fed’s stupendous $5 trillion Wall Street bailout? What if the same person is complaining about Congress voting $2 trillion—and not mentioning that large parts of that are going to back up the lending to Wall Street banks and funds? Then one is really hearing from Wall Street, one way or another.

To rebuild the economy takes a new paradigm, not from the speculation and globalization system of the last half-century. It is necessary to learn the plans of the late great economist Lyndon LaRouche. LaRouche rejected that system of globalization and austerity when the City of London created it by forcing the dollar off its gold-reserve basis in the early 1970s. He forecast that deeper and deeper austerity over decades would unleash pandemics.

The cause of this pandemic crisis is no country, no one leader, and no virus—it is the unpreparedness of the last 50 years’ casino-speculation system to save lives, or face great threats to human life of any kind.

Source: https://larouchepub.com/

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