The United States is in its eighth year of less than 2% annual economic growth, with economic infrastructure falling apart, wracked by drug-addiction deaths of its people in the prime of life, its tax revenues dropping and huge debt bubbles defaulting toward a financial crash. How foolish that the Chairman of the Joint Chiefs of Staff General Dunford, can’t decide whether the nation’s top adversary and national security threat is Russia, China or North Korea!
That adversary is Wall Street, and the London financial power it is allied with. There is a great deal of evidence that the American people realize this. But their elected officials will not give them the leadership to mobilize to break up the Wall Street casinos and stop a “second 2008” crash, so that the economy can actually be rebuilt.
Most Americans clearly do not agree with “Russiagate,” the frantic attempt to sweep the people into a new McCarthyism against President Trump, which was started by British intelligence figures more than a year ago and still dominates national media. They want it ended. They backed putting Glass-Steagall reinstatement in both parties’ national platform. A poll just taken shows that majorities of all voters want gasoline taxes raised and used to build new infrastructure projects. They want the nation’s industrial power rebuilt, and space exploration excites more potential astronauts than ever.
But just as Wall Street captured 2009’s anti-bailout, anti-Wall Street tea party movement and turned it into the “no-government” caucus in today’s House of Representatives; President Trump is now surrounded by a virtual Wall Street cabal which opposes Glass-Steagall, any intervention to revive the industrial economy, and any interference in Wall Street’s rush toward another blowout of securitized debt. One of that cabal, Treasury Secretary Mnuchin, is so venal that he put financial sanctions on Secretary of State Tillerson for not being sufficiently anti-Russia.
That is why the LaRouche Political Action Committee has mobilized to take on Wall Street — and the City of London — and pre-empt a trans-Atlantic financial breakdown worse than 2008. The President’s vital peace policy in cooperation with Russia and China, admirably kept up against a war phalanx in the media, Congress and intelligence agencies, will be swept away if we let that breakdown hit.
The actions of that mobilization are Glass-Steagall re-organization of banking and credit, funding for new physical infrastructure projects across the continent, accelerated return to space exploration, and a crash program of fusion power development. In all these, cooperation with China’s Belt and Road infrastructure initiative, and with Russia, will be crucial.
The adversary is Wall Street; it must be broken up.
The United States government’s responsibilities for defense and for building new economic infrastructure are equally explicitly stated in the Constitution. The American people formed a government to “provide for the common defense”; also to “promote the general welfare” and “to establish post offices and post roads”; and the first Congress in 1789 affirmed the responsibility for ports, by the Lighthouse Act.
Yet the Federal government is planning to fund production of a single class of Navy ships and a single new fighter-bomber fleet with $400 billion — or more — over the next decade, as much as it is currently investing in building, operating and repairing all forms of economic infrastructure.
These are the Ford class aircraft carrier — the first, $13 billion ship, out of 12 planned, having been commissioned by President Donald Trump July 22 — and the F-35 aircraft. Russia’s and China’s navies each operate one aircraft carrier.
Both systems are intended to replace older ones — Nimitz class carriers and F16 fighter-bombers — which are considered to be ending their planned lifetimes; 50 years in the case of the Nimitz carriers, for example. Most of the most important American transportation, navigation, water and water management, power, and even space exploration infrastructure is from 40 years to a century or more old, some of it crumbling and failing disastrously, with no action taken to replace it with new infrastructure platforms and modern technology.
Both new military systems employ not only very large funding, but also largely untested new technologies; neither the Ford class carrier nor the F-35 are as proven in operation as are magnetic levitation rail lines. Public funding equal to the funding for these two systems could build a 25,000 mile new high-speed rail network including maglev routes.
There is no public concern, and rightly so, about this public debt “destroying the credit of the United States” (nor about the two nuclear reactors which power the USS Gerald R. Ford). But in fact, the crumbling of the Wall Street-dominated U.S. economy and its infrastructure is making it take longer and longer, and more and more funds, to build such ships and planes. The looming second disastrous financial crash in a decade, if it isn’t stopped by anti-Wall Street policies, will cripple such production entirely.
The United States is as far behind in its economic infrastructure, as it is seeking to get ahead militarily. With Wall Street running U.S. economic policy, this can’t work.
Most members of Congress have again bought the British intelligence and media “talking point,” rejected by the American people, that Russia is a major adversary planning harm to the United States. House and Senate leaders have reportedly agreed on a new version of the anti-Iran/Russia sanctions bill, adding to it new financial sanctions on North Korea which previously passed the House as a separate bill. The House is to vote July 25, the Senate sometime this week.
President Trump and, publicly, Secretary of State Tillerson have opposed these war-sanctions aimed squarely against the progress for peace being made by cooperation between Trump and Russian President Putin. The New York Times gloated Sunday, “Now, Mr. Trump could soon face a decision he hoped to avoid: veto the bill — a move that would fuel accusations that he is doing the bidding of President Vladimir V. Putin of Russia — or sign legislation imposing sanctions his administration has opposed.” Democratic McCarthyite Sen. Ben Cardin lied, “A nearly united Congress is poised to send President Putin a clear message on behalf of the American people and our allies.”
Both the American people and our non-British European allies oppose the sanctions. The European Commission immediately issued a statement reflecting German opposition in particular. “We are concerned the measures discussed in the U.S. Congress could have unintended consequences, not only when it comes to Transatlantic/G7 unity, but also on EU economic and energy security interests,” it said. “This impact could be potentially wide and indiscriminate, including when it comes to energy sources diversification efforts,” the statement goes on, “It argues that sanctions are most effective when they’re coordinated but that unilateral measures undermine that effectiveness.”
Presidential Press Secretary Sarah Sanders indicated Sunday that the President would likely sign the bill, though that is to be seen. The newly negotiated bill originates in the House, lets Congress block any lifting of sanctions within 30 days — though providing that the Senate must be first to do so — but removes the prohibition of oil companies’ deals with Russia, and delays some of the sanctions.