Conspiracy Nation -- Vol. 10 Num. 37

("Quid coniuratio est?")


Beware When "News" Programs Get Boring

In the book, Extraordinary Popular Delusions and the Madness of Crowds, past financial bubbles -- the Tulip Craze and the South Sea Land Bubble -- are outlined. The current financial craze -- derivatives and "irrational exuberance" in the stock market -- is nothing new. It too will end, just as past financial lunacies have ended, with the bubble bursting and tremendous financial loss.

Concurrent with the growing financial bubble of the past 20 or so years has been a "reality bubble," personified by the "political correctness" movement. Crazy ideas are browbeaten into the public mind, and disturbing (to the reality bubble) truths wander outcast, exiled from mass media outlets. But the bursting of the financial bubble is a cloud with a silver lining: concurrent with economic collapse, "political correctness" will wither away.

"The sky is falling. The sky is falling." Lyndon LaRouche and his worshippers have chanted their mantra of doom for years. But sooner or later, the odds favor that they will be correct. The current issue of New Federalist (3/24/97) points to now as being that time.

Beware when mass media "news" gets too boring: at such times, we know that a lot is cooking beneath the surface.

ITEM: Federal Reserve Chairman Greenspan has called surreal stock market highs irrationally exuberant. It now looks like the Fed is about to raise interest rates. Does Greenspan's wife, NBC newsperson Andrea Mitchell know anything? Do you think she'd tell us about it?

ITEM: New Federalist, itself a shaky source belching LaRouchian "thought," nonetheless includes quotes from leading European newspapers to support its claims of imminent, and even ongoing, collapse. Quoting from a London Sunday Telegraph (March 16) Business Section article, New Federalist sees a larger meaning: the very fact that Telegraph prints the article is in itself significant. Says Telegraph: "The City's worst nightmare, a meltdown provoked by a crisis in derivatives markets, suddenly looks less like a lurid chapter from a paperback, and more like a future event." To this, New Federalist adds,

The significance of the Sunday Telegraph story, and of the same paper's March 9 warning of the "$55 Trillion Horror Story," lies not in the articles' texts, but in the fact of their publication.

LaRouche, in a feature in last week's EIR magazine (March 21), observed that the Sunday Telegraph's publication of the March 9 story "reflects a radical phase-shift in both the international financial situation, and also the political situation."

ITEM: New Federalist quotes "a senior British media official" as saying, "My reading is that something very big is about to happen."

ITEM: Donald Gordon, head of international insurance giant Liberty Life, warns of "dramatic casualties," and adds that Wall Street "will be at the center of the readjustment."

ITEM: Congressman Bob Barr (R-Ga) wants to impeach both Bill Clinton and Al Gore. In his column, "Inside Washington," London Sunday Times Washington correspondent James Adams writes that Barr's going public with the impeachment idea "represents a significant escalation." Barr reportedly has initiated formal preparation of articles of impeachment.

ITEM: Says Congressman Henry Hyde (R-Ill), "We are studying the law of impeachment, the procedures of impeachment... we'll be ready when the time comes." When will "the time" come? When the financial bubble bursts and millions of usually insensate Americans discover that they are furious about it?

ITEM: Credit card delinquencies in the U.S. are at record levels -- highest since 1973, when records were first kept by the American Bankers Association. Have you noticed lately how banks have been begging you to please, please sign onto their Visa and Mastercard offers? Can you say, "Pyramid?" Can you say, "Debt bubble?" In eleven years, credit card debt held by U.S. households has quintupled. Can that debt be re-paid, or will it be repudiated? What happens if it is repudiated?

ITEM: For about the past year, the ultra rich have been moving their wealth out of financial instruments and into durable goods. Do they know something?

So you, you turn on the evening news and what do you see? You see Doctor Quack soothingly and handsomely giving his bedside manner to ageing housewives. You see a claque of so-called "feminists" whining for yet another pillow to sit on. You see Bill Clinton spewing endless vocabulary. Beware when the "news" gets boring.

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