EIR LEAD EDITORIAL FOR SUNDAY, OCTOBER 17, 2021

LaRouche: Hyperinflation Is Systemic—Ignore Fools’ Talk of ‘Transitory,’ ‘Supply and Demand,’ ‘Temporary Shortages’...

Oct. 16, 2021 (EIRNS)—The economic gurus who drove the world into the current disaster are filling the pages of the Western media with wild “explanations” for the current rapidly expanding global inflation. For the most part, they have stopped pretending that it is just a temporary phenomenon, that things will soon return to “normal”—Federal Reserve Bank of Atlanta President Raphael Bostic said this week that the inflation will continue and could increase, and that after weeks of loose talk of “transitory” inflation, now, “Transitory is a dirty word.” Even Larry Summers, the former chief economist at the World Bank and the former Treasury Secretary who oversaw the take down of Glass-Steagall in the 1990s, said this week, “we’re in more danger than we have been during my career of losing control of inflation in the U.S.”

But what do these “quackademics” (a term coined by Lyndon LaRouche in 1996) say is the cause of the emerging hyperinflation? They all, without exception, name one or another of the categories which have served them in analyzing the current economic system. The fact that their policies have been such utter failures, and that their predictions of things to come have been universally wrong, is precisely due to the fact that they can not think outside of those systemic categories, when the actual problem lies in the failure of the system itself.

Listen to the wise words of Lyndon LaRouche, a full 20 years ago, Oct. 22, 2001, on the art of economic forecasting:

“The reason that I’ve been so successful in forecasting ... is because I think systemically, as I’ve identified that, repeatedly, rather than the way that people have been miseducated to think in school and so forth and so on. And therefore, I understand how a systemic collapse unfolds, as opposed to a stock-market prediction, which is what every idiot likes to talk about. Idiots say: ‘Why don’t you make a prediction? A statistical prediction.’ I say, I don’t make predictions. I make forecasts, which are based on the systemic characteristics and the boundary conditions within which the system operates. That’s why I have always been right, and every one of my critics—whether inside the organization or outside—has always been wrong!

“So, the question is, since the problem is a systemic one, how do you organize, under conditions of systemic crisis? In other words, not how to nail the window back on the house, but, how do you build a house, when the house you’re living in is uninhabitable, and can’t be repaired....

“So you have a situation globally, in the United States and outside, in which the total amount of debt service being extracted from the economies is increasing cancerously, and the debt service payment requirement accordingly. This is collapsing the actual productive power of nations and their populations, precisely at the time that the amount of debt to be paid is increasing. So, there’s no possible way that the present international monetary, financial system could be continued without collapsing civilization into a generalized and prolonged New Dark Age, out of which most nations will disappear, and the human population will drop rapidly during the course of this century to below 1 billion. And the first drop down will tend to be a big one. So therefore, we are in a situation in which anybody who doesn’t support my proposals on bankruptcy reorganization of the international monetary and financial system, does not support the measures which I’ve proposed as required for this purpose, has to be an idiot....”

Listen also to the wise program presented by LaRouche, his “Four Laws,” and his call for the “Four Powers”—Russia, China, India and the U.S.—to come together to lead a New Bretton Woods conference, to replace the broken Western monetary system with a new system, with universal Glass-Steagall policies, national banking, and “American System” directed credit into nuclear and fusion power, space exploration, and the building of modern agro-industrial nations in every country on Earth. See “The Coming U.S. Economic Miracle on the New Silk Road.”

What is the image of man which is required to make this possible? The British Empire, and its current version of Malthusian depopulation called the Green New Deal, views men and women as polluters, as spoilers of pristine nature, and openly call for the human race to be reduced to the Earth’s “carrying capacity,” which they claim is only 1 or 2 billion.

But these views are not even appropriate for animals, let alone human beings. There is not a soul brought into this world who does not have the potential for genius, to contribute to the future of humanity something of the quality of an Einstein or a Beethoven. Here lies the urgent necessity that the genocide now being imposed on Afghanistan, on Haiti, on Syria, on Yemen, and more, must be stopped immediately—not only out of a fundamental moral necessity, but to foster those inherently creative minds to contribute to mankind’s future, on Earth and in the Universe. Your self-interest lies in that necessity.