5 August LPAC Policy Committee Show

In response to a column by economist Paul Krugman , LaRouche says;

“What we have to cut is Wall Street.  And if you cut Wall
Street, in the proper way, under reasonable government measures,
what we’re going to have to do is increase the income of the
United States, increase the income of the people of the United
States by giving them productive employment.  We’re going to have
to take out a lot of things which are really waste, which are
already cuts, and the thing we have to cut the most out of is
Green.
For example, the Green budget is what is really causing the
collapse of income of the United States.  Now, we don’t have to
cut anything except the Green budget. We have to cut things that
are not worth doing, not just by cutting, but by increasing the
budget on the basis of producing {more credit}, earning more
credit, and that’s what’s required. We can not sustain the
present cuts, and the one thing we have to cut, {deeply}, is
Green.  But more than Green, Wall Street.
Wall Street — what has to be done, and should be done with
the aid of Glass-Steagall, is, what we should do, we should put
Wall Street under regulation.  Because what they’re doing, is
they’re not making any contribution with their so-called banking
operation.  They’re making no contribution whatsoever, to the
expansion of the economy!  They are draining the economy, they
are looting the economy! And they’re taking everything, they’re
giving nothing.  So what we need is a real {whopping} tax of
Glass-Steagall on this thing.
Now, the best way to do that, is simply pass Glass-Steagall
and then we would force the wipe-out of much of this speculation
by Wall Street and so forth.”

He characterized Wall Street as the boardwalk in a giant monopoly game.

Watch the Policy Show here

This entry was posted in Economy, Glass Steagall, Lyndon LaRouche and tagged , , , , , , , , , , , , , , , , . Bookmark the permalink.

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