LaRouche: "Biggest Economic Crash in Modern History Could Occur as Early as Mid-October, if Not Sooner"

...needed immediately with No Amendments

... What LaRouche has set forth, nothing more nor less, is what is required ...

Well I guess thats gonna put a damper on the holidays shopping!



Seems it already has.

Walmart, Home Depot, Now Sears: U.S. Retail Sales Collapsing

August 31, 2007 (LPAC)--Offering steep discounts didn't stop sales falling for the second quarter this year at two more big discount chains in the U.S. On August 30, Sears announced that its sales had fallen 4.3% in the last quarter, and that Kmart's fell by 3.8 percent. As a result, Sears profits fell by 40% in the quarter, the second quarter in a row they declined.

Two other retail chains directed at America's lower 80%, Walmart and Home Depot, announced their sales had declined two weeks earlier.

So much for billionaire hedge fund honcho Edward Lampert's promise when he merged Kmart and Sears Roebuck Co. in March 2005, that he would generate great profits for its shareholders by cutting costs and jobs.



Bank of England Helicopters Inject Massive Liquidity into Barclays Bank



August 31, 2007 (LPAC)--The Bank of England was forced to pump an emergency 1.6 billion pounds ($3.2 billion dollars) into one single bank yesterday, as the bankrupt financial system proved once again as dry as Greek forests these days.

When it was then reported that that bank was Barclays, which had already borrowed from the Bank of England's emergency window this month, Barclays managers put out the unbelievable story that they don't have any financial difficulties, but only borrowed such a huge amount of money at a "penalty" short-term interest rate of 6.75%, to handle a "technical breakdown in the system used to clear and settle money-market transactions" on August 29.

Barclays then announced today that it had just injected $1.6 billion into the Cairn Capital hedge fund which it had helped set up, an amount which just happened to be half the amount borrowed from the Bank of England. Barclay's bailout kept the fund from launching a "fire sale" of its assets. Cairn is one of four exotic financing funds, called SIV-Lites, created by Barclays, which until this month merrily sold short-term commercial paper backed by worthless mortgages and car loans. Two of the four have already collapsed, and are selling their assets at a loss, and a third is about to follow suit. The Bank of England helped Barclays "save" one.



Standard & Poors Loses its Head

Aug. 31 (LPAC)--Top executives continue to resign from well paying jobs to "spend more time with their families." The latest is Kathleen Corbet, who has resigned from her top paying job as CEO of Standard & Poors, according to McGraw-Hill, S&P's owner. A spokesman for McGraw Hill told Bloomberg her resignation was not related to the obvious events of the last weeks. She will be replaced by Deven Sharma, vice president of investment services and global sales for S & P.


Freddie Mac Profits Collapse by 45%

Aug. 31, 2007 (LPAC)--The Chief executive officer of Freddie Mac, Richard Syron, said he had underestimated the scale of the housing mortgage crisis, as it was announced that the company posted a 45% decline in quarterly profits in the second quarter. Syron said defaults in its own portfolio, which DOES NOT include subprime mortgages, have risen sharply, driving up costs related to failing loans by 433% over last year to $336 million. "I was bearish," Syron was quoted by The Independent as saying, "but I was not bearish enough." Freddie's Chief Financial Officer Anthony Piszel told the Wall Street Urinal August 31 that they expect it will be forced to mark down the value of the securities it guarantees this quarter.

[link to www.larouchepac.com]

LaRouche? Don't make me laugh.

Speaking of a laugh.

OP, you must consider the most important issue here. The war with Iran is an insurance for tptb. Like it or not and even the whole world against it they will push and then start this war. Because they know full well that this war is the only way to get them out of this mess. Iran can not expect Russia or China to back them up. These two countries will be devestated if US economy was to come down. As a result they will sit back and watch Iran be bombed to death and once again allow tptb to continue a few years further. Eventually a war with another country once every 2 years will keep them going and no doubt they will come up with another plan once this option has ran out.
Don't forget that these peole have total control over the economy and banking system. They have been planing this game fro 100s of years and do you really expect anyone to accept that the USA's economy is about to crash without these people wanting to? Its just not possible.
Did you know that the famin in Africa in the 80's was all planned?

Speaking of a laugh.

Amazing you still believe in all the shit LaRouche writes

Bush's conference dealing with the mortgage crisis, has no doubt left many with a feeling of unease.

The tension mounts.


LaRouche's Homeowner and Bank Protection Act of 2007 needed immediately with No Amendments

[link to www.larouchepac.com]



Lyndon LaRouche announced yesterday that he will be recording a message to the American people on Saturday in which he will spell out precisely what must be done in the face of the biggest crash in modern history. Referring to the Homeowners and Bank Protection Act of 2007, which he has designed, LaRouche said that if we don't pass this legislation, there will be no protection against what will hit the nation soon. What he has set forth is the one and only program capable of addressing the crisis. No other proposals or amendments to his program will succeed. Any other agenda should be cancelled. With LaRouche's program, when the crash comes we will still be standing. When the storm ends homeowners and federal and state chartered banks will still be standing. There are no other options. What LaRouche has set forth, nothing more nor less, is what is required.

so none of you tard realise this post was from 2007?no?