TRANSCRIPT OF ABC-TV NATIONAL BROADCAST

The following was authorized and paid for by Democrats
for Economic Recovery -- LaRouche in '92.

     "The Man George Bush Fears the Most"
                 Feb. 1, 1992

Opens to video of postering squad in Houston with green
poster "LaRouche: the only opponent George Bush feared
enough to put in prison" prominently displayed on the
screen.

ANNOUNCER: Lyndon LaRouche is running for the Democratic
nomination for President of the United States. He would
be here to tell you that himself, but he is in a federal
prison in Rochester, Minnesota. By the end of this
broadcast, you will understand why George Bush fears
LaRouche, and why he put him -- and keeps him -- in
a federal prison.
	This is not a "protest campaign." Lyndon LaRouche
is not offering good ideas for other people to implement.
The U.S. economy is now in a full-scale depression;
our nation is in the worst social crisis since the
Civil War; and, American foreign policy is pitifully
lagging behind events around the world.
	Lyndon LaRouche told you that these disasters
were coming -- many of you heard his warnings in
broadcasts on national television since 1980. The United
States will not survive as a great nation, if we once
again elect a president who cannot grasp how bad things
really are, how we got into this mess, and how we must
get out of it. The only candidate in either party
who has shown these qualifications is Lyndon LaRouche
-- and LaRouche must be freed from prison now, to
implement the solutions to our economic and foreign
policy crises.
	Think back over the 1980s, over the 12 years of
the Reagan-Bush-Administrations; think back over the
incredible changes that have occurred in the world:
the collapse of the iron curtain; the collapse of the
American economy; large parts of Africa and Asia now
on the verge of extinction due to mass starvation, and
diseases like AIDS and cholera.
     You're asking yourself: who could have foressen
these mind-boggling changes? Only a master of economic
and foreign policy could have seen such things on the
horizon. Tonight, we will show you that Lyndon LaRouche
is that man. Every major problem which now haunts you,
your children and your grandchildren, was forecast
by LaRouche since 1980. In every case, he produced
detailed proposals to solve the predicted crisis.
	If you had listened to Lyndon LaRouche in 1980,
in 1984, in 1988, then we would not be in this mess.
	Lyndon LaRouche's economic forecasts have been
particularly accurate throughout the 1980s. During
that decade, he made 25 nationally-broadcast addresses,
highlighting the collapse of America's physical economy
since the violent end of the John F. Kennedy
Administration. LaRouche repeatedly warned you that
the disastrous decline in America's industrial and
agricultural capacity--our transition to a so-called
post-industrial economy--would spell disaster.
	During 1979, LaRouche assembled a task force to
analyze the effects of the high interest rate policies
of Federal Reserve Chairman Paul Volcker and the new
drive for deregulation started by the Carter
Administration. 
	At the end of 1979, LaRouche's task force started
publishing the forecast that these de-industrialization
policies would produce a new, deep recession in the real
economy. Other forecasters predicted nothing but recovery. 
	In 1981, LaRouche warned that the international
banking system, led by the International Monetary Fund,
was temporarily hiding its problems through the genocidal
looting of the poor nations of the Third World. He stated
that the debt burden of the Ibero-American nations,
particularly Mexico, had become explosive and unpayable.
     In 1982, LaRouche wrote "Operation Juarez," a
proposal for the orderly disposition of the southern
continent's debt in the context of regional economic 
development. In August of 1982, the Mexican debt
situation went into unmanageable crisis. Although
LaRouche's "Operation Juarez" had the support of many
leading figures in Ibero-America, in October 1982, it
was vigorously blocked by Henry Kissinger and the
Reagan-Bush Administration. This Reagan-Bush
Administration sabotage of "Operation Juarez" only
made matters worse as LaRouche reported in a 1984
national broadcast: 

LAROUCHE: ``Many of you know, that since the Mexico crisis
of August, 1982, the U.S. and European banking systems
have been hanging over a cliff four times a year. At the
end of each quarter, increasing numbers of nations around
the world -- not just in Latin America -- are unable to
meet payments due on their foreign debts.  So far, each
time this has occurred -- four times a year -- the IMF
and Washington have announced some last minute debt
bailout miracle, and our silly Secretary of the Treasury,
Donald Regan, announces that all of our problems on
that front are solved. Then comes the next quarterly
crisis, and the same swindle is played out all over
again.
      "In fact, nothing has been solved.  A few
bookkeeping tricks of the kind that would send corporate
officials to prison -- if they copied the New York
bankers' bookkeeping tricks -- have postponed the crisis,
by methods which have made the next round of crisis
more explosive each quarter.
     "What the United States Government has done, by
supporting the International Monetary Fund, and
Kissinger's New York bankers, is to loot the U.S. dollar,
and to loot the indebted nations, both at the same
time. We are being looted, to bail out bad bankers,
in a scheme which must collapse very soon."
(From "While Washington's Politicians are Sleeping"
national broadcast, April 27, 1984) 

ANNOUNCER: At the same time as he was warning of the
suicidal economic policies of Henry Kissinger and the
International Monetary Fund, LaRouche was offering his own
plans for large-scale development projects to get the
world economy moving again. 

LAROUCHE: ``Tonight, I'm going to tell you about the
method by which I'm going to bring 3 million jobs into the
United States, only through the export of capital goods to
foreign countries -- and related goods, of course. This
will be in addition to the five million jobs which we also
know we can create within the United States by reforming
the policies of the Federal Reserve system. In other
words, a total of 8 million jobs.'' (From "Great Projects"
national broadcast, March 17, 1984) 

ANNOUNCER: As LaRouche was speaking in March 1984,
the response of the Reagan-Bush administration was
to blithely claim that there had been ``17 months of
uninterrupted economic growth.''
	Instead of LaRouche, global development, and debt
and banking reform, you, the American people, voted
for four more years of the ``Herbert Hoover recovery''
of the Reagan-Bush administration -- for four more
years of what used to be called ``voodoo economics.''

RONALD REAGAN: "Our policies were designed to give you a
chance to do what you do best.  They were intended to
release the American Dream from its cell, so that
enterprising visionaries like you could tune up the
accelerator, fill up the tank, and step on the gas of the
greatest machine for beating poverty and building
prosperity that the world has ever known: the American
Free Enterprise System." (From speech before the
Independent Business Conference) 

ANNOUNCER: There WERE more jobs during the second
Reagan-Bush administration -- but they were low-paying
service jobs.

	On November 8, 1986 -- over five years ago --
LaRouche again warned:

LAROUCHE: ``The Reagan `economic upsurge' never occurred,
and under present U.S. economic policies, the United
States is sliding into a new world depression. A
spiral of indebtedness of government, consumers, and
businesses has been promoted, to attempt to conceal
the depressive effects of bad, `post-industrial' economic
policies, by promoting a wild spree of buying on credit.''
(From "The Recovery That Never Was"	special report,
November 8, 1986)

ANNOUNCER: What did White House spokesmen say in November
1986? They said: ``there is no problem; we have just
completed 49 months of uninterrupted economic recovery.''
	On May 26, 1987, after surveying the growth of
leveraged buy-outs, junk bonds, and the consumer credit
bubble, Lyndon LaRouche made a startling forecast:

LAROUCHE: ``A crash in October would not be absolutely
certain, but it would be at least a very good guess. This
forecast is based on the observation, that even now,
President Reagan is clinging stubbornly to a belief in a
`Reagan economic recovery' which never actually
occurred.'' (From "Global Financial Crisis Predicted for
October" pamphlet, May 26, 1987.) 

ANNOUNCER: In October, the stock and bond markets DID
crash, just as LaRouche forecast. What was the response
from the White House? 

DAVID BRINKLEY; ``Why are we having a stock market crash?''
BERYL SPRINKEL: ``Well, the one thing that we know,
is that it's not the cause of weakness in the economy,
as you indicate. It's growing well; the inflation rate
is coming down. I don't think anyone knows for sure."
(October 5, 1987)

ANNOUNCER: During the 1988 Presidential campaign, LaRouche
explained that the October '87 crash was a signal that
the U.S. economy was, in fact, fatally weak, and going
into the final phase of a complete depression breakdown:

LAROUCHE: "In the United States, and around the world,
the situation is terribly frightening. The drug pandemic
is destroying the bodies, minds, and souls of youth
in every part of the world.  Entire nations are being
destroyed by drug-financed international terrorism.
    "During the middle of the 1970's, there was the worst
genocide of the century in Cambodia.  But now, famine and
disease are wiping whole African nations from the map.
Here in the United States, our farmers are being driven
into bankruptcy, while the world as a whole is plunged
into the worst food crisis of the century. Our industries
are collapsing, while 40 million Americans are below the
poverty line.  And a  majority of our debt-ridden people
are much less well-off than their families were 20
years ago. (From "Winter of Our Discontent" national
broadcast, October 31, 1988)

LAROUCHE: "We are now at the brink of the worst world-wide
financial crisis-collapse in modern times.  The
international financial crisis we are experiencing
today, is the direct result of those policy decisions,
made by the Reagan-Bush Administration, during October
1982. If you look into the financial figures, you will
see, that beginning October 1982, the U.S. banking
system began to build up the biggest international
financial bubble in history. As a result of President
Reagan's continuing the policies he adopted during
October 1982, U.S. financial income zoomed over the
five years from October 1982 to October 1987. But
the level of physical production inside the United
States collapsed at a rate of between two and five
percent a year -- during 1983, 1984, 1985, 1986, and
1987.
     "As a direct result of the President's rejecting
my proposal, U.S. export markets collapsed, leading
to the terribly dangerous balance-of-payments crisis
we are facing today. During the five years of the
so-called Reagan recovery, our infrastructure rotted
away, more and more of the most productive farms in
the world were pushed into bankruptcy, while industries
collapsed, and more and more communities and families
were pushed into misery. This rot, bankruptcy, and
misery is what the President called his ``recovery.''
(From "Test of Fire" national broadcast, April 5, 1988)

ANNOUNCER: Even after LaRouche was railroaded into
prison, a little over three years ago, he maintained
a steady stream of programmatic material and warnings
that the United States was continuing its slide into
depression.
	On July 4, 1989, LaRouche produced a pamphlet
which opened with the judgment:

LAROUCHE: ``Coming generations will remember President
George Bush for the worst crisis to have struck these
United States in more than one hundred years. Among these
crises will be the deepest financial collapse of this
century.'' (From "The Great Crisis of 1989-92" pamphlet,
July 4, 1989) 

ANNOUNCER: What did President Bush do over the first three
years of his administration? First, he denied that
there was even a recession; then, he admitted to a
minor recession, but claimed that the recovery had
already begun. Finally, a few weeks ago, on January
15, 1992, President Bush told the people of New Hampshire:

GEORGE BUSH: ``Last year, 49 out of 50 blue-ribbon
economists said there would be a recovery by this year.
They were wrong, and I was wrong.'' 

ANNOUNCER: Do you think that President Bush has been
listening to the wrong people? No! You, the American
voter, have been listening to the wrong people. 
	We are not in a ``recession,'' or a ``double-dip
recession,'' or a ``slow recovery.'' We are in a
depression. It's obvious to a competent economist
like Lyndon LaRouche, and it's obvious to the man on
the street.
 	People who think that you must have a stock market
crash to have a depression, like in 1929, simply don't
understand how the physical economy works. LaRouche
warned of this kind of thinking in a message, taped
from prison shortly before this past Thanksgiving:

LAROUCHE: ``Many people have been looking for a definitive
one-day, two-day, three-day financial crash, perhaps on
the markets, with the New York Dow-Jones (sometimes
called Baby Jones) Index, collapsing 500 or 1000 points or
something like that. What they are seeing is something a
bit different. What they are seeing is the great mudslide
of 1991. 
	``By mudslide, I refer, by comparison, to the eruption
of, say, a Hawaiian-style volcano. The mud comes sliding
down inch by inch, hour by hour, approaching the villages
and the sea. As the mud reaches the sea, a bit flakes
off today, a bit flakes off tomorrow, a bit flakes
off the next day.
	``What has happened is this: it is not so much
that the stock market has collapsed, as that the
underlying financial system as a whole -- the
Anglo-American, London-New York-Washington financial
system--has collapsed.
	"The banks are bankrupt, the life insurance and
other insurance companies are in deep trouble, the
pension funds have been looted by the junk bond dealers
such as Michael Milken and Kohlberg Kravis Roberts
with their crazy junk bonds.  Other things are looted.
	"State governments are bankrupt, municipal
governments are bankrupt, the federal government is
bankrupt, and the federal government and state governments
and corporations are stuck with something on the order of
$24-25 trillion of unpayable combined public and private,
on-balance-sheet and off-balance-sheet liabilities. 
	"This, Europe has seen and the Japanese have seen,
and Europe and Japan are saying that the financial
system of the United States is something to stay as
far away from as possible.
	"As the financial system weakens, George Bush's
political power weakens, and his ability to clobber
the Europeans and Japan into making large subsidies
to Wall Street is no longer as great as before.
	"So, down and down and down we go--not all at once,
but day by day, hour by hour, inch by inch, the Great
Mud-Slide that carries the United States into a financial
collapse and depression far worse than anything in
the 1930s, is now on full tilt." (From November 23,
1991 audio recording)

ANNOUNCER: Lyndon LaRouche's mastery of the science
of physical economy is matched by his expertise in
foreign policy. Now, the pundits on television and
in the newspapers tell us that, although President
Bush is weak on domestic issues, his popularity will
come from his so-called ``brilliant foreign policy.''
These commentators add, correctly, that the five other
Democratic contenders besides LaRouche barely have
a foreign policy, outside of bashing our trading partners
in Asia and Europe.
	Let's take a few examples. One of the most dangerous
hotspots in the world today is the Balkans. The Yugoslav
Federation has broken up, and there is now a terrible
war of annihilation by the Serbians, threatening to
spread into the rest of Central Europe.
	Think back to the 1988 campaign. What did Michael
Dukakis say about the Balkans? What did candidate Bush
say? What did President Bush say?
	But, back in 1988, Lyndon LaRouche used part of
a campaign message, nationally broadcast on CBS network,
to describe the potential for a Yugoslav break-up,
and to warn of the danger it posed to European stability.
His warnings were unheeded.

	In that same 1988 national broadcast, LaRouche
reported on a trip to Berlin which he and his wife,
German political leader Helga Zepp-LaRouche, had made
on October 12 of that year. The LaRouches went to Berlin,
to present a proposal which was considered incredible,
by many people at the time.

LAROUCHE: "Under proper conditions, many today will
agree, that the time has come for early steps toward
the reunification of Germany, with the obvious prospect
that Berlin might resume its role as the nation's capital.
     "I base this possibility on the reality of a terrible
world-wide food crisis, which has erupted over the
past several months, and which will dominate the world's
politics in every part of the world for at least two
years to come.
     "The economy of the Soviet Bloc itself is a terrible
and worsening failure. In western European culture,
we have demonstrated theat the successes of nations
with big industries depends upon the technologically
progressive independent farmer, and what is called
here in Germany the Mittlestand.
     "Soviet culture, in its present form, is not capable
of applying this lesson. Despite all attempts at
structural reform, and despite any amount of credit
supplied by the foolish West, the Soviet Bloc economy as a
whole has reached the critical point in time, that in its
present form, it will continue to slide down hill from
here on, even if the present world-wide food crisis had
not come into being." (From Bristol Hotel Press
Conference, October 31, 1988) 

ANNOUNCER; A little over one year later, the Berlin
Wall was down. Today, Berlin is the capital of a reunified
Germany -- just as LaRouche forecast. The Soviet Union
has collapsed, largely as the result of its economic
problems -- just as LaRouche forecast. And famine
threatens Russia -- just as LaRouche forecast.

	What did Michael Dukakis, or any of the other
Democratic contenders, say about German reunification
in 1988? What did candidate Bush say?

	As soon as he was inaugurated in January 1989,
President Bush demanded that the oppressed peoples of
China and Eastern Europe, slow down their efforts to throw
off their Communist dictators. Even when events made
Bush's demand obsolete, the President desperately tried to
maintain the old power arrangements. In the words of the
old gambler, Mr. Bush has been busy backing the wrong
horse. 

	During that same period, Lyndon LaRouche -- from his
prison -- has been developing the detailed programs
necessary to integrate the former Communist nations into a
new, revived European economic bloc. (E.g., "The Science
of Christian Economy" and "Can the Europe Pull the U.S.
Out of Economic Collapse".) On his behalf, Helga
Zepp-LaRouche and her representatives have extensively
toured Eastern Europe, explaining those programs to
high-level officials. 
	What is President Bush's current program for the
former Iron Curtain countries? He insists that they
institute ``free market reforms,'' which means that they
must open themselves to the conditionalities of the
International Monetary Fund and other Anglo-American
banking organizations. They must follow the policies of
Harvard economist Jeffrey Sachs, for instance: devaluing
their currencies, destroying what's left of their
industry, throwing millions onto unemployment -- all, so
that the Anglo-American bankers can loot what remains. 
	In other words, Bush proposes to treat the former
Soviet Union and Eastern Bloc countries like the IMF
treats the nations of Ibero-America and Africa. 
	Lyndon LaRouche now warns that, if there is still a
danger of nuclear war, its source is the insane foreign
economic policy of George Bush. LaRouche sent the
following taped message, from his prison, on December
28th, concerning the new free market reforms of Russian
president Boris Yeltsin: 

LAROUCHE: "If Yeltsin, for example, and his government,
were to go with a reform of the type which Sachs and
Sachs's co-thinkers demand -- chiefly from the Anglo-American
side -- then the result in Russia would be chaos. In such
a case, the overthrow of Yeltsin by a dictatorship and the
restoration of a form of what is called totalitarianism
would probably occur. In that case, then we have a
strategic threat.'' (From December 28, 1991 audio
recording) 

ANNOUNCER: Is the United States going to go down to
contempt in history, because the Americans of 1992 didn't
have the courage to support a man for president in a time
of crisis, perhaps simply because that man happened to be
a political prisoner, put into prison by his enemy, George
Bush? 
	Lyndon LaRouche has warned you, and he has never
lied to you. He would never make the blunders that
George Bush has made, and that the other Democrats
running, say they want to make. He is the only candidate
capable of implementing the kind of emergency measures
needed to get us out of this depression.

LAROUCHE: ``What is needed is a genuine recovery program.
That means that there is no hope of anything but things
getting constantly worse and worse until my kind of
program is implemented. And, I don't think there's anyone
around with the guts or conception of how to do that,
except me. Let me give you an example. 
	``My recovery program depends upon the initial action
of federalizing (nationalizing) the Federal Reserve
system. That is, to take away its status as a
quasi-independent corporation controlled by bankers,
and to make it an institution of the U.S. government,
a bank of the U.S. government, the kind of bank that
the United States Bank represented under President
George Washington.
	``This bank would be a means, not for emitting
currency, but for putting federal currency, legal tender,
out as loans at very low interest rates to get the
economy moving.
	"Now we are talking about loans on the order of
magnitude of over $300 billion a year for public works,
and a comparable amount of lending into the private
sector for investment in basically, employment in
high-tech and engineering types of activity.
	``We're talking about 3 million people in the
public sector, working for federal, state and local
infrastructural projects, such as railway projects,
water system projects, power system projects, and that
sort of thing.
	``We are talking about, on the other side, another
3 million people at least, employed as a result of
vendor agreements, which are made with these public
projects.
	"So we are talking about an increase in employment 
of about 6 million people within a year.
	``That's my basic recovery program. All done, not in
make-work, but in necessary things that should have been
done a long time ago, and are now long overdue. That will
get the economy moving. 
	``But, it's got to be done, and nobody else intends
to do it but me. And therefore, if you don't elect me by
some way -- use your imagination, get me elected -- then
you're going to be sitting in the worst depression of the
20th century for a long time to come.'' (From December
21, 1991 audio recording) 

                       END

For More Information: write LaRouche in '92, P.O. Box
690, Leesburg, Virginia  22075.

The preceding broadcast was authorized and paid for by
Democrats for Economic Recovery Larouche in '92. 

END TRANSCRIPT