by Harley Schlanger, Rogue Money:
In just four weeks President Trump will deliver a State of the Union Address, with his promise to rebuild America’s economic infrastructure on the line, and in doubt. The United States and Europe are facing a new financial crash centered in Wall Street and City of London, and the President is wasting time pretending that the stock market represents a great recovery of the U.S. economy.
The American people, who have been rallying with us to defend the President from the British assault led by legal assassin Robert Mueller, must get through the heads of Trump and Congress that there has been no economic recovery. The warnings are multiplying that the immense corporate debt bubble is getting ready to collapse, and drastically cutting those corporations’ taxes will only force more air into that bubble and blow it out.
We need to break up the Wall Street banks fast, before that crash can happen, and create real value and productivity by putting — not $1 trillion — at least $2-3 trillion in new Federal credit into building new national infrastructure at the highest level of technology. That includes a high-speed rail network, as quickly and efficiently as nations like China and Japan build it. It includes advanced nuclear technologies, and getting NASA back all over the Moon and around it, and fusion power technology so that we can go to Mars.
The Treasury Secretary and Wall Street have sold President Trump the idea that the U.S. economy is in a big recovery. But why is the dollar way down against other major currencies in 2017, and still falling after tax cuts and interest rate increases? Why is the death rate still rising in America, life expectancy still falling? Why did opioid overdose deaths likely reach an ungodly 70,000 in 2017, including hundreds of people who died of overdoses while at work? Why, the last time corporations got to bring back overseas money at a super-low tax rate in 2005, did they spend 95% of it on buying stock shares and giving dividends? What followed shortly thereafter — prosperity, or a global financial crash?
President Trump’s recovery mistakes make it harder, now, to get the real rebuilding of American’s broken infrastructure which he wants, and will call for in that State of the Union. American activists now have to make that happen: To fix what, 65 years ago, President Eisenhower called “the appalling inadequacies to meet the demands of catastrophe or defense”, which are seen again now in hurricane destruction, power failures, uncontrolled fires, train wrecks. It takes a lot of new Federal credit, and EIR Founder Lyndon LaRouche has defined how to do that.
The President is even more sore beset by geopolitical thinking, which requires overseas adversaries, the defeat of which by war or otherwise must be the measure of American “winning.” Will he confront China on “trade”? China is building great infrastructure projects worldwide and working to eliminate poverty including in the United States, where its investments are giving hope to Governor Justice of West Virginia, our third-poorest state.
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