STOP THE PRESSES!!!
Lyndon LaRouche, Nut Case, Warns . . .
"THE WHOLE, BLASTED INTERNATIONAL FINANCIAL
AND MONETARY SYSTEM IS FINISHED!"
In an eerie parallel to the words of Fred G. Sanford, the late
Watts junk dealer known for his frequent exclamations that, "This
is it! This is the Big One!" heavy NutraSweet imbiber Lyndon
LaRouche is once more warning about a "Big One," soon to cause a
worldwide financial crisis.
Those who have followed the mutterings of the "Chicken Little of
economics" over the years are, of course, quite accustomed to Mr.
LaRouche's constant "the sky is falling" predictions. At regular
intervals, the diet soda-guzzling prognosticator of doom has awed
his worshipful followers with the equivalent of "big mountain
gonna blow," "jungle drums say bad medicine" and "singing wire
says scarey stuff." And, the worshipful followers, known as
"LaRouchies," crouch, huddled around coal-burning stoves, in
dimly-lit quarters, and repeat their leader's mantra: "He say
this... Helga (wife woman), she say that."
It was bound to happen, and the canny LaRouche, by all
appearances just an old Frenchy far from home, has been obviously
not completely blinded by NutraSweet abuse: sooner or later, the
market *will* crash. Then will come Phase II: screaming
headlines in the LaRouche newspaper, "New Federalist,"
proclaiming "LaRouche was right!"
Particularly alarming to this editor has been the stunning rise
in the stock market average, heralded nightly on network "news"
broadcasts. Such an extreme in the stock market is extraordinary
-- so extraordinary that it is hard to believe it's real (i.e.,
based on solid, tangible growth, rather than on "the magic of
numbers" (and the magic of paper and digital "cash")).
And, in fact, Nick Guarino, editor of "The Wall Street
Underground," has explained the surreal stock market highs as
nothing more than a focused inflation. According to one writer
(Jane H. Ingraham, "Fed's Inflation Charade," The New American,
5/26/97), in the past 6 years, M3, a broad measure of the money
supply, has gone up by about 20 percent. Guarino agrees:
"...the [Federal Reserve] is supplying enormous amounts of credit
liquidity to the markets... You can see this in the huge
increase in the money supply. As measured by M2 and M3, money
supply is the largest it's ever been. It is growing by record
amounts." And where is the money going? It is, in large
measure, going into the stock market.
Not to pay too much attention to the man I call, "the wacky
Frenchman," but LaRouche's newspaper does quote some possibly
credible sources in its latest "the sky is falling" article ("BIS
Admits The System Is Finished," by John Hoefle, New Federalist,
6/23/97). Here are excerpts:
** Brussels: senior official of German Finance Ministry
gives off-the-record briefing to reporters. Reportedly
says the un-named official: "financial shocks in the
international markets" in September and October.
** A "senior Italian strategist" warns LaRouchies, "I am
told some financial movements will be occurring, that will
bring about some shocks." When? "After the summer
** Reportedly says Morgan Stanley strategist Barton Biggs,
"I have the feeling we are setting up for something out of
the blue. Something with the stunning violence of a punch
in the mouth when you aren't expecting it. The dog days of
summer have often been the time for brutal muggings of
investors by markets."
One thing is certain: Lyndon LaRouche has long-since realized
and benefited from his own insight into "the profits of doom."
(Say, "The sky is falling" and watch the zombies join your
cause.) And someday, LaRouche will be, "Was Right!" (will say
his zombie newspaper.)