THE LEAD

                                                                                                                                                                                                                                                                                        

Congress’s Sham Impeachment Blocks Response to a Financial Crisis

November 5, 2019
President Donald J. Trump waves after talking with reporters on the South Lawn of the White House Monday, Nov. 4, 2019, and walks to board Marine One to begin his trip to Kentucky. (Official White House Photo by Joyce N. Boghosian)
President Donald J. Trump waves after talking with reporters on the South Lawn of the White House Monday, Nov. 4, 2019, and walks to board Marine One to begin his trip to Kentucky. (Official White House Photo by Joyce N. Boghosian)

House Speaker Nancy Pelosi’s political action committee is the Congressional Democrats’ most prolific source of campaign fundraising. In the third quarter of this year the “Democratic billionaires” who demand forcing President Donald Trump out of office, led by George Soros with $16 million, poured on the funds. In early September Pelosi, who for months had stood against trying to impeach Trump without “bipartisan support,” changed her mind and announced a sham process that Democratic leaders call impeachment.

Pelosi cannot speak against that now. Instead, in a Nov. 1 interview with Bloomberg, she strongly criticized the Democratic candidates for President for a related sham—putting forward crazy “programs” sure to lose in 2020. Medicare for All and Green New Deal are rejected by voters across the Midwest, she told Bloomberg. “As a left-wing San Francisco liberal I can say to these people: What are you thinking?… You can ask the left—they’re unhappy with me for not being a socialist.” The news service reported, “Pelosi also expressed worries about voters’ reactions to the Green New Deal ... that calls for radical, rapid reductions in carbon emissions. ‘There’s very strong opposition on the labor side to the Green New Deal because it’s like 10 years, no more fossil fuel. Really?’ she said.”

The Speaker’s criticisms of the Democratic candidates sounded somewhat like President Trump’s strong criticisms of her. Neither can be denied. It is not just the Democratic candidates.

The entire Congress, in the grip of the Democratic House leadership, is wasting the precious time of the nation—facing both an oncoming financial crisis worse than the crash of 2008, and a worsening epidemic of drug addictions—with a faked impeachment. All its closed-door processes and selective leaks to compliant media are aimed at driving down President Trump’s poll ratings; impeaching him for “low polls and misdemeanors,” campaigning for President by impeachment. Fox News has joined the game, willfully mis-headlining its own national poll which actually showed impeachment support as lower than one month earlier.

And while they do it, the Federal Reserve makes growing daily emergency injections of liquidity to the banking system, which suddenly needs them every day for the first time since 2008. They are kept secret from the American public by most of the media. The immense $16 trillion bubble of U.S. corporate debt, growing at more than $1 trillion/year, now draws red-light warnings from experts worldwide. Beneath it is an economy in an industrial and manufacturing recession since the end of 2018.

We need emergency restoration of the Glass-Steagall Act, to isolate Wall Street’s speculative casino from the commercial banks, so that they can restore productive lending. This is just the first of Lyndon LaRouche’s “Four Laws To Save the U.S.A.”

But Glass-Steagall has been virtually abandoned by “progressive” Democrats in this session of Congress; and of the ten Members of Congress who have been running for President, just one—Rep. Tulsi Gabbard—is sponsoring it and none have campaigned with it.

With this betrayal, trying hard to bring down President Trump’s polls by impeachment, they are lowering their own. One, businessman Andrew Yang, told CNN yesterday, “The entire country gets engrossed in this impeachment process. And ... we will not have made a real case to the American people.”

Much worse than that. They are acting to sabotage the President’s cooperation with Mexico against drug and guns cartel trafficking; his Moon-Mars mission for NASA; his—and their own!—ability to act on Lyndon LaRouche’s laws for economic recovery in a financial crash. Some Democrats must break ranks, and Congress must do the urgent business of the country.