LaRouche--We're on the edge of the biggest financial mortgage bubble collapse in world history
Just found/read this EIR article: Transcripts from a radio interview w/ Lyndon LaRouche on Jan 18, 2006. It is a rather long interview, so I will just pick out relevant snippets:
For those of you who don't know anything about previous presidential candidate Lyndon LaRouche -- See Link
Snippets from interview below:
" ...We're up against the potentiality, which is coming out of the international financial crisis, that somebody's going to try to do what they did in the 1930s! Set up dictatorship. Because, they don't want democratic processes interfering with what dictators want to do with the economy, and with other things."
"You have this pressure on Iran, the question on Syria, so forth—more wars, more wars! And the fear we have, in Washington, is that, were Alito confirmed, that Cheney and company would push ahead, we'd get those "more wars" which are now waiting for us, in Syria, in Iran, and so forth. It's an extremely dangerous situation, particularly as today, and yesterday, you have this crisis on the Japan stock market. Which could be—that is, "could be"; these things are not so simple, you can say "yes" or "no"—but it could be the trigger that could set off a world financial collapse."
"...we have a potential collapse of the real-estate bubble in the United States, the mortgage-based securities bubble. Also in Britain, also in Spain, and other parts of the world. This is very much involved with the hedge funds, and we're looking at the Japan crisis: To what degree the hedge funds are involved in this Japan flap, where they went down about 6% on the market over the past day."
"There's always a question of this, because we're dealing with a hyperinflationary economy, where every time we go into a potential collapse, someone starts pouring a lot of aggregate into the money system, and therefore you have an inflationary postponement of a crash which is ultimately inevitable. Now, the only thing that'd stop this crash, is if the Federal government would simply say, "Well, our system is in bankruptcy."
"We're on the edge of a crash, could occur any timet. We're on the edge of the biggest financial mortgage bubble collapse in world history. We hope that it doesn't come too soon."
"...we have to reverse our direction, and go back to becoming an agro-industrial manufacturing nation, again. We should no longer be living on what other people produce for us, at low wages, while we leave our own people unemployed. That's what the problem is: We're not producing enough. We're not educating enough people, we're throwing too many of our people on the dump.