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November 7, 2009 (LPAC)—Following the shocks of Nov. 3's angry election results, and Nov. 5's angry citizens' rally at Capitol Hill, the dismal 10.2% unemployment report of Nov. 6 hit President Obama hard Friday, and may have put an end to his Nazi-modelled "healthcare reform" legislation. Majority Leader Rep. Steny Hoyer's "we don't have the votes now" announcement came only hours after the Bureau of Labor Statistics (BLS) reported that the official unemployment rate—though greatly understated—had jumped up by a completely "unexpected" four-tenths in October, to 10.2%.

The U.S. economy has lost 1-1.5 million jobs since "the recession ended and the recovery began" in June; it has lost 5-5.2 million jobs with Obama in the White House; it has eliminated, since his "stimulus" act became law, over 400,000 construction jobs and more than 400,000 manufacturing jobs.

Even the clueless Republicans are starting to shout, "Do something now about jobs, not healthcare!" For millions of furious Americans, the slogan may be "Stop the killer 'recovery' before it kills us all! Move earth—build infrastructure—stop bailouts and create jobs."

The dumb President was at a loss, in a noon statement from the White House Rose Garden; he had been told by advisors like Larry Summers and Peter Orszag, after all, that unemployment wouldn't go above 7.8% after his "stimulus" act passed. All the President could come up with, is a claim that the law he'd just signed extending Federal unemployment benefits for 14 weeks, was a new job-creator! And that the extension of the homebuyer's tax-credit boondoggle for eight more months would create jobs, too. These were nonsense statements.

What really happened to unemployment in October was a bright red marker for the economic/financial breakdown point Lyndon LaRouche had insisted was going to be reached that month. BLS reported 190,000 more jobs eliminated by businesses and government agencies that month. But its demographic survey of American households suggested something far worse: that just under 600,000 Americans became newly unemployed in October, and 260,000 of them dropped out of the labor force in discouragement. That is a collapse, as LaRouche was forecasting it.

His proposal of bankruptcy reorganization of the banking/monetary system and a "four powers" credit system for infrastructure launched by the United States, China, Russia, and India, will work to reverse that collapse; no other policy will.