“As the spread of the corona- virus is threatening to become a pandemic, the impact on physical economic production is already challenging both the supply chains for the industrial production system — in which the sovereignty of national economies has been replaced by international cartels creating extreme dependencies on those supply chains — as well as the very existence of small- and medium-sized industrialists. There are clear warnings, that such disruptions may cause another “Lehman Brothers Moment” in the global financial system.”
From: An Urgent Appeal to President Trump, President Xi, President Putin, Prime Minister Modi and leaders of other countries for the emergency implementation of the Four Laws of Lyndon LaRouche, by Helga Zepp-LaRouche.
A Note To Readers
The quote above from an appeal issued today by Helga Zepp-LaRouche can be found in this week’s Feature. I urge all readers to circulate this call far and wide.
As she points out, an extreme disruption of the supply chain of manufactured goods, food, medicines and other elements of our globalized economy, if the corona virus epidemic becomes a pandemic, will bring untold suffering and can collapse the entire global financial system.
The solution is to end the extreme globalization that makes every country dependent on thousands of miles of a supply chain for its medicines, food, and much else. The solution lies in Larouche’s Four Laws of Economic Recovery; a solution that is founded on the American System principles of physical economy, not a Wall Street gambling casino.
An 11 minute video
https://larouchepac.com/20200228/dont-blame-coronavirus-coming-economic-crash
For all you warning about a plunging Dow and crashing market due to a Coronavirus pandemic, where were you when these bubbles were being built up? Where were your warnings when we replaced our productive agriculture, healthcare, and labor sectors with a financial services economy? Listen as Harley goes through the successive bubbles created in our economy, decade after decade. It’s time for it all to be reorganized, guided by LaRouche’s Four Laws.
In the rest of this week’s report:
The lack of precipitation in January and February in California has thrown the state into a new drought, with the U.S. drought monitor showing about 25% of the state in drought now. In addition, the snowpack is shrinking, in the middle of winter, and while the reservoirs are still full, they will not fill up this spring. (pages 2-5)
Oroville Dam is back in the news this week, after the federal government has agreed to reimburse California more than $170 million for repairs to the Oroville Dam spillway after an appeal from a state agency. (page 5)
The fall-out, or the fall-over, from President Trump’s visit to Bakersfield, has been characterized by some as “Trump reignites the California Water Wars. Actually, the California water wars have never gone away. Trump’s visit to the Central Valley last week just brought the ongoing conflict to the surface. The governor is suing the federal government to stop Trump’s policy of insuring more water to farmers. Interior Secretary Burnhardt responded, telling the governor to actually read the executive order. (pages 6-9)
Meanwhile more fall-out from the developing drought sees the water allocations for this year already being cut by the Bureau of Reclamation, and probably, but not announced yet, by the state. (pages 9- 10)
Highlighting the decrepit state of the nation’s infrastructure, the federal government has ordered Santa Clara County’s biggest reservoir to be drained due to earthquake collapse risk. (pages 10-12)
This week’s report concludes with our Feature, the concluding installment of the series on Rebuilding the U.S. Economy with LaRouche’s Four Laws. (pages 12-16)
