The Financial Crash Is On: Only a Transatlantic Policy Revolution Can Avert Disaster

• The Financial Crash Is On: Only a Transatlantic Policy Revolution Can Avert Disaster
  by https://larouchepac.com/ 
  The entire trans-Atlantic London-Wall Street financial system is on the very edge of total collapse. It could happen any hour, any day. The critical signs are already there, for anyone who is not willfully blind. Four Italian banks have gone under in the past week, with the European Union imposing bail-in looting of depositors funds. Puerto Rico has already announced it will default on a $1 billion debt payment by Jan. 1, the front end of a $72 billion debt bubble; and vulture funds are fully exposed. Already, a number of hedge funds, exposed to the Puerto Rican debt and to the shale oil and gas sector bankruptcies, have collapsed. These are merely harbingers of a total breakdown of the trans-Atlantic system that is imminent.
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  The crisis is compounded by the imminent danger of world war, triggered by London and Wall Street desperation over their imminent bankruptcy. NATO and the Obama Administration have done everything possible to provoke Russia, from the eastward expansion of NATO to the deployment of a unilateral ballistic missile defense system on the borders of Russia, to the modernization of tactical nuclear weapons to be soon deployed throughout Eastern Europe. Russian Armed Forces Chief of Staff Gen. Gerasimov briefed foreign military attaches in Moscow this week on the added threat of NATO’s plans for asymmetric warfare aimed at regime change in Moscow. Under President Putin’s clear leadership, Russia will not capitulate to the threats from the likes of Obama and Cameron. The danger of a thermonuclear war of extinction is greater today than at the height of the Cold War at the time of the Cuban Missile Crisis. It is driven, purely, by the bankruptcy of Wall Street and London.
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  Lyndon LaRouche has made clear that the only option at this late moment is for Republicans and Democrats to abandon the partisan madness and come together around pre-emptive actions to avert the total blowout and the chaos that will follow, if there is no action now. This requires a total break from the policies associated with President Obama, Hillary Clinton and Donald Trump. This means a genuine revival of the policies adopted by President Franklin D. Roosevelt in his first hundred days in the White House. Yes, Glass Steagall is vital, and beyond that, a massive infusion of Federal credit, as FDR did through the Reconstruction Finance Corporation, is urgently needed, to create jobs, build infrastructure and trigger a boost in the productive powers of labor, which have been wiped out through four decades of insane monetarist policy.
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