Infrastructure Investment Breaks Back into Trump’s Agenda

Immediate funding for protective and productive infrastructure projects, in multiple U.S. states and in Puerto Rico, has forced its way back onto President Donald Trump’s plans as he prepares for an 11-day trip to Asia which includes a crucial summit with President Xi Jinping in China.

Pundits and Washington insiders had been in agreement that Trump’s trillion-dollar infrastructure build had “faded on the agenda” and been postponed to 2018 at earliest. But Trump’s own unique comments, against public-private partnerships, for rebuilding Puerto Rico’s infrastructure, and for recognizing that its debt is unpayable, have brought Democrats rushing to the White House to discuss a plan. And Xi Jinping’s China is building major new infrastructure virtually all over the world except in North America, and would invest to help build it here.

First, the White House has requested $29 billion in new funds to FEMA, the Army Corps of Engineers, and HUD for recovery in Texas (which requested $18.7 billion of it), emergency recovery in Puerto Rico (which has requested $8 billion), Florida, and other southeast states. This can be voted this week in the House, but is not economic infrastructure funding.

Puerto Rico Gov. Ricardo Rosselló told a delegation of U.S. Senators he flew over the island on Oct. 7, that he is preparing another request, for either loans or grants for long-term rebuilding of the island’s infrastructure “within weeks,” not giving any details publicly. A Texas State Representative, Republican Ron Simmons, has called for the formation of a state infrastructure bank to fund reconstruction along the Gulf Coast. Given the size of the investments needed, the state bank would best be supported by a National Bank for infrastructure.

Trump’s legislative aides held another meeting with members of Congress from both parties Friday to discuss infrastructure. These are exchanges of what clearly remain vague ideas on all sides. But Infrastructure Committee chair Rep. Bill Schuster (R-PA) claimed after the meeting that a White House infrastructure plan now exists and will soon be publicized.

Building a new economic infrastructure in Puerto Rico cannot be done, however, without setting aside the great majority of its $72 billion in debt. Even the Control Board set up under Obama’s PROMESA Act of 2016 recognizes that Puerto Rico cannot, even with now-deadly austerity measures, pay more than $800 million or 1% of this debt annually — in other words, not even interest.

It took President Trump, and no other national elected official, to state this publicly and say Wall Street’s debt would have to go. Then, Democrats who had led the “slow, indifferent response” attack on Trump enthusiastically chimed in. Rep. Luis Gutierrez (D-IL) — who said “Donald Trump, you wanna take care of that one? Hallelujah, I’m with you. If you eliminate the debt, like Donald Trump says, you don’t need a control board and therefore you don’t have to make decisions anymore between paying the bondholders, and many of them are unscrupulous members of Wall St. hedge funds…” — can stand for others like Sen. Bernie Sanders, Rep. Adriano Espaillat (D-NY) and others who reacted in much the same way.

But in fact Puerto Rico is already unable to borrow on the municipal bond market, and would be cut off from credit indefinitely if its debt were just “wiped out.” It has to be reorganized, illegitimate debt written down, and the rest made payable over a long period by being absorbed into a Federal credit institution which can help build the new infrastructure. Just as with any Texas State Bank grappling with tens of billions of Gulf Coast rebuilding investments, “setting aside” Puerto Rico’s debt requires a National Bank for infrastructure.

LaRouchePAC and EIR are pushing this clear and necessary idea in the otherwise vague “infrastructure” debate. Its main opposition is the so-called “Delaney plan” of presidential candidate, ex-Rep. John Delaney of Maryland. It would provide perhaps $200-250 billion for national infrastructure investments, gotten from repatriated corporate tax-avoidance funds abroad, and would involve hedge and vulture funds in its capital. LaRouche’s “Hamiltonian” National Bank will provide trillions in credit, and open the door to China’s Belt and Road Initiative.

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Trump At A Crossroads With Asia Trip: The Mueller Threat Must Be Destroyed

October 6, 2017 (Whitehouse Photo)

 

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There is great political tension surrounding the preparations the Trump Administration is now making for the President’s Asia trip November 3-14 and, crucially, his meetings with President Xi of China.

Confrontations with North Korea and with Iran are intensifying and threaten great, potentially immediate dangers.

But the now strengthening national debate over how to get new infrastructure built in America, after the unprotected “natural disasters” of August and September, sets an agenda for Trump with China, which is building major new projects worldwide in its Belt and Road Initiative.

Trump’s own public statements and actions in rushing through emergency funds, recommending public funding of infrastructure and writing off Wall Street’s unpayable debts in Puerto Rico, have intentionally provoked this debate and built on Americans’ desire to unify and rebuild.

China has wanted to participate in this since President Xi invited Barack Obama’s administration to join the Asian Infrastructure Investment Bank; Obama fought it instead. It represents the goals of national common interests, productivity, and connectivity for which China’s Belt and Road Initiative was founded in 2013, and first suggested by Lyndon and Helga LaRouche in 1989.

Now a “Hamiltonian” national bank combined with an anti-Wall Street new Glass-Steagall Act proposed by LaRouche form the one clear, workable idea for the trillions in credit necessary to build America a new economic infrastructure and a space program restored to greatness. This idea has not been grasped yet in the White House, but if President Trump discusses the Belt and Road Initiative with Xi, it potentially takes life immediately. And Japan, where he will also hold a summit, has now indicated it will be joining the Belt and Road.

The threat to this prospect is not that Trump will start a war but that he will be impeached. The so-called “Russiagate” affair, a protracted witchhunt against the President, continues although the American people are thoroughly sick of it. U.S. intelligence agencies, driven by British intelligence, are using “special prosecutor” Robert Mueller as a hit-man to drive Trump out of office by any means.

So EIR and LaRouchePAC have taken this one, with a dossier that blows out of the water Mueller’s “fitness” to judge any leader’s actions. It shows how he has been selected to commit serious crimes against the United States for over 30 years; and it is the means to stop the witchhunt. “Robert Mueller Is an Amoral Legal Assassin: He Will Do His Job If You Let Him” has been circulated by nearly 2,000 people from http://www.larouchepac.com; its circulation now has to go into the tens of thousands, by social media and in print, to influential Americans and others concerned with America’s future.

The President’s departure for Asia in 25 days should set the deadline for success in this effort.

GET OUR DOSSIER ON MUELLER

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In Defense of Columbus and the Principle of Scientific Discovery

 

Following her “Open Letter to President Trump in Defense of Columbus”, Liliana Gorini, Chairwoman, Movisol, (LaRouche’s Movement in Italy) addresses the Manhattan Project to tell the truth about Columbus’ spirit of discovery and his achievements that benefited all of mankind. Today, a similar spirit of discovery expressed by China’s Belt and Road initiative has the potential to transform the future as monumentally as Columbus’ accomplishments. The recent attacks on Columbus by groups such as the Antifa are not intended to defend “racial and economic justice”, but are directed at disrupting the growing alliance between President Trump, China’s President Xi Jinping and President Putin, and their creation of a new economic order to benefit all of humanity centered on the Belt and Road Initiative.

The video that Ms.Gorirni refers to in her presentation is a 1978 RAI excerpt from the opera Simon Boccanegra, “Plebe, patrizi, popolo!” with Piero Cappuccilli in the title role, and also Mirelli Freni and Nicola Ghiaurov.

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Stop Saudi Genocidal War in Yemen: Interview with Fouad Alghaffari

LaRouchePAC conducted an exclusive interview with Fouad Alghaffari, chairman of the Yemeni Advisory Office for Coordination with the BRICS, who has been actively promoting the ideas of the LaRouche movement in Yemen, leading the effort to bring Yemen into the “peace through development” paradigm of the New Silk Road. Alghaffari speaks with us from Sana’a, Yemen, which has been the target of an aggressive genocidal war by the Kingdom of Saudi Arabia,which has already killed over 10,000 people. LaRouchePAC has issued an emergency state, “Enemy of the New Silk Road Paradigm: Saudi Genocide in Yemen” which can be found here.

 

 

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Fireside Chat with Barbara Boyd, October 5, 2017

Join us for a discussion with Barbara Boyd of LaRouchePAC, author of the dossier, “Robert Mueller Is an Amoral Legal Assassin: He Will Do His Job If You Let Him”. Read it here

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The New Silk Road Dynamic is replacing the Geopolitics! – Webcast with Helga Zepp-LaRouche

Helga Zepp LaRouche, the Founder and Chairwoman of the Schiller Institute, will inaugurate a weekly English-language webcast, to spread what she calls the “New Silk Road Spirit” to the world. Mrs. LaRouche is one of the most prominent intellectual authors of the concept “The New Silk Road becomes the World Landbridge”. Since Chinese President Xi Jinping put the New Silk Road, the Belt and Road Initiative, as it is now called on the agenda four years ago, it is lifting tens of millions out of poverty, and puts an alternative to the dangerous idea of geopolitical division of the world. Known internationally as “the Silk Road Lady,” Mrs. LaRouche is often featured in the Chinese press for analysis on the BRI, and the global strategic situation.

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Trump: The Puerto Rican Debt to Wall Street Is Wiped Out! Make Way for the New Silk Road Paradigm of Credit & Construction

President Donald Trump shakes hands with Capt. David Guluzian, commanding officer of the amphibious assault ship USS Kearsarge during a visit to the ship to discuss ongoing operations in Puerto Rico and the U.S. Virgin Islands. Sept 3, 2017 (US Navy)

 

President Donald Trump, near the end of his visit to Puerto Rico Oct. 3, stated the obvious truth about the situation: Devastation has wiped out the estimated $72 billion in Puerto Rican debt, along with the entire infrastructure base of the island; its economy must be rebuilt for the people. Wall Street has gone ballistic. The President’s assertion of reality has called the question on the Wall Street system. The full LaRouche Plan of Action, released Aug. 31 after the first landfall of Hurricane Harvey, on Glass-Steagall, credit creation and economic rebuilding, must be adopted.

Trump spoke in an interview with Geraldo Rivera, shown on Fox News, on Hannity last night. Asked about rebuilding, Trump said, “We have to look at their whole debt structure. You know, they owe a lot of money to your friends on Wall Street. And we’re going to have to wipe that out…. You’re going to say goodbye to that. I don’t know if it’s Goldman Sachs, but whoever it is, you can wave goodbye to that. We’re going to have to do something about that. The debt was massive on the island…We are going to help the people out.”

The President then added:

“We are going to get the electric going again. You know, that was a complete wipeout. That wasn’t like a couple of poles that came down. That was generating plants. That was a lot of very valuable equipment, but it was equipment in bad shape. But we’re going to put it in good shape.”

Right away came the squawks from Wall Street. To begin with, Mick Mulvaney, Office of Management and Budget, started speaking out, to try to walk back what Trump said. Mulvaney told CNN, “I wouldn’t take it word for word with that…” The New York Times first put out the questioning headline early this morning, “Trump Vows to Wipe Out Puerto Rico’s Debt, Can He Do That?” Then The Times issued a second version, “White House Dials Back Trump’s Vow to Clear Puerto Rico’s Debt.”

But the truth is the truth. Not only the economy of the entire island of Puerto Rico has been destroyed, but — to a greater or lesser degree — there are some 90 million people suffering from disasters all across the mid-latitudes of the American Hemisphere, stretching from earthquakes in Pacific Mexico, to the hurricane belt reaching to the Caribbean’s Leeward Islands, with the Gulf States in between. In Puerto Rico, the initial stage of rescue and emergency relief is still underway. Military and civilian teams are working to the max, and received Trump’s congratulations yesterday. Things never done before are being done, to overcome the crisis, such as the Army Corps of Engineers commander’s report last night that they are trying an air-drop to stabilize the broken spillway at the Guajataca Dam—a 100-year-old earthern structure at risk.

The ultimate rebuilding phase for Puerto Rico cannot be merely an extrapolation of these rescue operations, nor even the eventual stabilization phase of response to the disaster. You can’t run an economy on diesel generators and bottled water. The island needs its first-ever rail network (It had only 10.7 miles of urban transit). Its first-ever nuclear power plants. And, for example, the fulfillment of the intention of Ponce, on Puerto Rico’s south coast, to become the “Port of the Americas,” on the world maritime Silk Road.

The necessity to link up with the Belt and Road Initiative is clear. Look, for example, at what is now happening in Haiti—right in the center of America’s hurricane and earthquake zone. China and the Mayor of Port au Prince have announced a multi-billion-dollar program to rebuild the city and hinterlands, including storm defenses, power, and water supplies, safe residences and all, to a new, productive level. Look at the contrast with how the Obama Administration, acting for Wall Street, flatly refused the proposal to take an ‘Army Corps of Engineers’ approach to save and rebuild in Haiti after the 2010 earthquake, with subsequent disease and suffering over the last seven years.

We can now expect—after Trump’s remarks—an escalation of the already-outrageous attacks on him. Remember what hit President Bill Clinton, after he said in September, 1998, that the world needed a “new financial architecture.” Within three months, impeachment proceedings were started against him. The pedigree of these attacks is the same—the expiring British monetarist system, as laid out in the new EIR dossier, “Bob Mueller Is an Amoral Legal Assassin: He Will Do His Job If you Let Him,” a report which can finally bring down the whole enemy operation.

We are proud to announce, that in this breaking situation, today, Oct. 5, will begin the new weekly international webcast, by Schiller Institute Founder and Chairwoman, Helga Zepp-LaRouche, on the “New Silk Road Spirit.” It will be broadcast here at LaRouchePAC.com at 12 noon, Eastern Time.

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