A preliminary assessment of Donald Trump’s inaugural address was written on Jan. 21 by the International President of the Schiller Institute Helga Zepp-LaRouche for the German weekly Neue Solidarität. We provide a few excerpts, in draft translation, below.
“Donald Trump’s inaugural address contained a mixture of interesting promises, reminiscences of earlier periods of American history, and impracticable announcements, as well as the unfortunately very widespread idea in the United States that the world beyond the American continent does not really exist, as expressed in his slogan ‘American first’. It will be seen in the following days and weeks how he intends to implement his promise to massively relaunch the economy, and how he will shape his foreign policy, above all toward Russia and China…..
“Trump’s statement that ‘We will build new roads and highways and bridges and airports and tunnels and railways all across our wonderful nation’, can lead to a real reversal of the economic decline. But the absolute crucial issue is whether he will honor his electoral promise in North Carolina to re-enact Glass-Steagall and thus to end the casino economy.”
After mentioning the exchange between Stephen Mnuchin and Senator Maria Cantwell at the Senate hearing on Jan. 19 concerning re-enactment of the Glass-Steagall Act separating commercial from investment banks Zepp-LaRouche continued:
“Lyndon LaRouche stresses expressly that only the original Glass-Steagall law, as applied by FDR in 1933, could reorganise the hopelessly bankrupt financial system. Of course, there would be a lack of liquidity, when the illegitimate debts, derivatives and toxic paper of all kinds are written off. That’s why Glass-Steagall is only the first step and would absolutely need to be completed by the other three points of LaRouche’s ‘four laws’, which are the creation of a national bank in the tradition of Alexander Hamilton, a credit system to reconstruct the physical economy and a crash program to develop fusion energy and international cooperation on space research. That is the only way the urgently needed rise in productivity of the labor force could be achieved….
“Of course, Donald Trump is right to raise the problem of the sorry state of American industry as a result of globalization, and the drug epidemic and criminality, etc. But the problem with the slogan ‘America first’ is that history has long since evolved beyond the point where defense of national interests, no matter how legitimate they may be, is adequate. The alternative to globalization of the Anglo-American stripe, i.e., a system that promotes the international financial oligarchy to the detriment of the common good, is not to relapse into simple nationalism. The universal history of mankind has long reached the point at which only a completely new paradigm can open the pathway to the next step of evolution. This new paradigm must place the common interests of mankind before all else, whereby the idea of a single mankind with a common future becomes the overriding notion of all legitimate national interests, and the latter may never be allowed to contradict the interests of mankind as a whole. This new paradigm must be as clearly distinguished from the axioms of globalization as the modern era is from the Middle Ages.”
The alternative to “America first”, Zepp-LaRouche concludes her article, lies in the international cooperation of all nations of the world to the advantage of all.