“Two systems are before the world; the one looks to increasing the proportion of persons and of capital engaged in trade and transportation, and therefore to diminishing the proportion engaged in producing commodities with which to trade, with necessarily diminished return to the labour of all; while the other looks to increasing the proportion engaged in the work of production, and diminishing that engaged in trade and transportation, with increased return to all, giving to the labourer good wages, and to the owner of capital good profits….”
Henry C. Carey, The Harmony of Interests
A Note To Readers
The rain and snow has finally come to California. The wildfires are under control. We can now return to providing the reports, background and perspective required to creating once again a nation, and a state, that provides its citizens with the future they require.
Our quote above is from Henry Carey’s book, The Harmony of Interests, written in 1851, in which he elaborates the difference between the American System and the British System. That difference has always been, in summary, a focus on actual physical production from industry, new infrastructure and scientific progress, vs. a focus on trade and finance. The first, the American system, when it is actually in control of the nation, is what provides a real future of rising living standards and the foundation for the well-being of future generations.
More extensive quotations form Carey’s book are the last item in this week’s report.
In this week’s report:
The report begins with the weather and the current status of the drought.
A short report on the failure of Proposition 3 to be approved by the voters on November 6 includes a serious problem for dealing with some broken pieces of California’s water infrastructure.
But, as the next report demonstates, the federal government is stepping in to help finance the building of the Sites Reservoir, providing $450 million for one element of the project.
Now since there is very little other water news this week, and no news at all from the Oroville Dam spillway reconstruction, the remainder of this week’s report consists of articles on the economy. For as we all know, “it is the economy, stupid.”
We begin that section with a new report from the Department of Defense on the state of U.S. manufacturing industry. Despite President Trump’s initiatives on bringing back industry to the country, what he has done and has proposed is far from what is required.
Several more articles covering homelessness, poverty in the Central Valley, and more, give some symptoms of the problem.
Solutions, too, are covered, beginning with the President’s attack on the Federal Reserve and the Kansas cattlemen’s resolution calling for the restoration of the Glass-Steagall banking law. That point, of course is the first law of Lyndon LaRouche’s Four Laws proposal for a real restoration of the American System.
Again, as mentioned above, the report concludes with Henry Carey’s “Harmony of Interest” excerpt.
