LibertyArchives3's video: COVID19 Avoid a Global Depression Dennis Small Lyndon Larouche

An excellent talk by Dennis Small (Schiller Institute director for Ibero-America), also featuring footage of an (as usual) extraordinarily farsighted speech by the late Lyndon Larouche. This video is an abridged version of a longer segment of Panel 4 (“The Science of Physical Economy”) of the Schiller Institute’s April 2020 “New Paradigm” conference: https://schillerinstitute.com/blog/2020/03/29/conference-mankinds-existence-now-depends-on-the-establishment-of-a-new-paradigm/ To add to Dennis Small’s and Mr. Larouche’s points, here are the essential points for an immediately adoptable plan for economic recovery and development. 1. THE IDEA must always be to create a global recovery and, more than that, lasting economic development. It’s not acceptable that, in the 21st century, there is still something as a “Third World” (with billions of human beings doomed to the lives of the damned), and that even the so-called Developed World is so underdeveloped that it can be pushed to the point where it nears an economic collapse, by something like a pandemic. 2. GOVERNMENT ISSUANCE OF PUBLIC CREDIT. Have governments fund their operations and the recovery and development of their economies by means of the issuance and monetization of public credit. As Lincoln stated, government is endowed with that power, so why should it borrow at interest from private financial houses (or, indeed, privatized central banks)? 3. STIMULUS PACKAGES TO KEEP ECONOMIES AFLOAT during the pandemic, by the issue of public credit, with aid to families and the productive sectors of the economy. 4. MASS ECONOMIC MOBILIZATION. Once the pandemic’s under control, use the power to issue public credit to create mass economic mobilization and, in such a way, stimulate and expand economic activity and employment, and lay the groundwork for lasting development. This is done through the issuance of credit for the purposes of: → CONSTRUCTION OF ECONOMICALLY USEFUL PUBLIC INFRASTRUCTURE, such as transport networks and hubs, energy and telecommunications infrastructure, health services, irrigation and soil recovery projects. Needed infrastructure is built, while degraded structures are rebuilt. Great infrastructural projects of this sort hire myriads of private companies, generate income for myriads more, create vast numbers of jobs and, what's more, they pay for themselves, since you're building useful and lasting infrastructure, that will help the economy grow, expand and develop. → LOANS TO PRODUCTION AND PRIVATE ECONOMIC ACTIVITY. The issuance of low interest public loans to companies, industries and corporations who are interested in industrial and technological production, and to companies, entrepreneurs, families and startups who want to create businesses, farms, manufactures, R&D projects, etc. → INDISPENSABLE SOCIAL ASSISTANCE TO THE IMPOVERISHED 5. FINANCIAL REFORM, with a gradually implemented return to the regulatory framework of the New Deal, and a regulatory solution to the quadrillion-dollar bubble of toxic debt now crushing the world economy. Financial markets are meant to be the spaces wherein the financial transactions of a productive economy occur, as opposed to casinos from where that economy can be liquidated and used as collateral for speculative gambling. 6. THE PROTECTION OF TREASURY BONDS, if not by regulatory means, then by informal means. It's impossible to return any kind of vigor to economies when Treasury IOUs can be arbitrarily downgraded-to-junk by means of shorting raids. 7. THE PURPOSE MUST ALWAYS BE TO (RE)INDUSTRIALIZE AND MODERNIZE economies, so as to transform them into highly productive, decentralized economies that will allow for the continuous improvement of the standard of living and, thus, for the generalization of the middle classes. Only that will ensure lasting prosperity. 8. IT MUST BE UNDERSTOOD THAT THIS IS WHAT WORKS, in the real world we live in. This, in it’s general lines, is the development model that gave you the transformation of the U.S. into an industrial power after the Civil War, and it’s also the essence of Roosevelt's New Deal, which gave you the end of the Great Depression, victory in World War II, the reconstruction of Europe and Japan after that, and the rise of the modern middle class society. THIS is progress and development. 9. ALL OF THIS REQUIRES COOPERATION BETWEEN NATION-STATES, in the context of a multilateral anti-depression platform for joint economic recovery and development. 10. MODERNIZING THE UNDERDEVELOPED WORLD, now more than ever at risk of complete economic and social collapse. Incentivize and help them to adopt this development model, establish debt moratoriums, and create fair agreements for the export of infrastructure, technology, and expertise to these countries. Why not think of infrastructure-for-resources deals?