President Joe Biden’s most liberal backer, Sen. Bernie Sanders (I) of Vermont, warned last week that Biden may become “another LBJ,” forced not to run for a second term by his war policy. It is Biden’s arming and cheering Israel in a brutal colonialist proxy war against Palestine, which has become a genocide and turned American youth against him, after he threw hundreds of billions into NATO’s “Ukraine war” against Russia.
The United States and Germany are the two “warriors” of global NATO’s war campaign against the developing nations. The war policies of both cannot be sustained without bringing on a crash of banks and financial markets, or a world war with Russia and China. Germany is destroying itself by rapid de-industrialization, and repression of opposition to the wars. But the Biden Administration is bringing on the economic demise of the West as a whole.
This administration has, from its inauguration, pushed a NATO military confrontation with Russia. It has issued unprecedented waves of unpayable federal debt which are still rising—not only to pay for wars by Global NATO, but to fund its own implacable economic warfare on China. The Biden team intended to ruin the world-leading producer economy China has become, and stop its unstoppable technological progress and its anti-poverty outreach to developing nations.
It intended Israel’s slaughter in Palestine to break up the BRICS group of nations, to turn Arab BRICS nations against each other, to turn BRICS Arabs against BRICS Iran, to force Saudi Arabia to sign a treaty with Israel against Iran as “the price” for not stopping Israel’s extermination of the Palestinians.
But what the Biden Administration is reaping instead is a swollen, speculator-riven U.S. Treasury market that is headed toward illiquidity and a general financial crisis. As Bloomberg News characterized it in a May 1 article “When traders in the roughly $27 trillion US Treasury market have trouble trading, it’s a matter for far wider concern. Liquidity metrics have hit crisis levels … raising worries about underlying fragility in the functioning of a market that’s a key underpinning of the global financial system. That’s one reason why, for the first time in more than two decades, the Treasury says it will begin regularly buying back its bonds starting May 29. Its goal is to stabilize the situation and buy time for policymakers to implement more permanent solutions.”
The “permanent solution” is peacemaking and mutual economic development; it is credit at low interest rates for the United States to participate with the BRICS nations in economic development, exporting capital goods for projects exemplified by the “Oasis Plan” for Southwest Asia.
Citizens of the United States should be looking for leaders now, to those candidates, activists and organizations who are opposing the nation’s continuous wars, and proposing principles of a new strategic and development with the developing countries who are the constant targets of those wars.
The LaRouche independent candidates Diane Sare, campaigning for U.S. Senate in New York, and Jose Vega running for U.S. Congress in the Bronx (CD 15) against Ritchie Torres, a warmonger and suppressor of free speech rights of war opponents, are such leaders. So, increasingly, are their campaign workers. The students protesting U.S. government support for genocide in Gaza, are learning about leadership as the Congress and President try to tear up the First Amendment to repress them. Leadership in this national crisis will not come from above, from a warmonger Administration and Congress, but from these campaign mobilizations.
