It is the morning of June 24, the year 2016. Last night the world we live in changed forever. It was another day where our very, very, very low opinion of the liberal elite and the liberal establishment that runs so much of our world clearly was not low enough. No it wasn't, and we are shocked by what has happened, which is that the British people have voted to leave the EU. Now there is no way to sugarcoat this situation that this is an epic disaster. First place it's an utter disaster for the British people leaving the EU, it's an act of complete insanity. Europe must be a united block in order to compete in the world economy. The logistics of leaving the EU, of renegotiating trade agreements with everybody else, are going to be a mess of epic dimensions. Another issue is that the center - one of the key centers of the international financial system - which isn't in very good shape in our world - is London. And this is going to be a logistical nightmare to figure out how all that works.
A SHOCK TO AN ALREADY WEAK, GLOBAL ECONOMY
THE DEPRAVITY OF THE LIBERAL ELITE
Now the point is that this is a shock to a global financial system that is not in good shape to begin with. Since the big crash of 2008, the governments of the world have launched the greatest welfare for the rich campaign in the history of the world. It's really just staggering. Trillions and trillions of dollars have been created out of thin air by the central banks of America, the EU and Japan to loan to banks, to loan to the rich, to keep them from falling apart. Now the argument behind all this is - and part of it is true - that this has helped hold down interest rates, and so on and so forth. But what the liberal elite that have presided over this don't really want to discuss is the moral depravity and the moral bankruptcy of this whole situation. Now recently we heard that the most of the big US banks past stress tests. Well here is the deal, when you can borrow taxpayer money, government money, trillions of dollars of it from the Federal Reserve at what...0.2% interest rates... life can be a lot less stressful. But let's just take a look at working-class America. Student debt. Working-class debt. Don't you think there could be a lot less stress among students and the working class if they could borrow at 0.2%? If working-class people who are saddled with 20% plus interest rates on their credit card bills - which are the legacy of the only way they were able to get through the recession - if they can reduce those bills to 0.2% from 20%, I bet that they could pass a lot of stress tests, right? Yeah. So this is not a viable system.
THE ANGER OF THE WORKING CLASS
We can't cover in this lecture the whole scale of the immorality of the current system. But what we can discuss is that the whole thing just moved a lot closer to blowing sky high. The overall level of debt has gone up around the world, not down. There hasn't been deleveraging. There's been this - as we mentioned - this giant multi-trillion dollar bailout of the rich. This is not a viable solution, and this moves the whole world economy closer towards an economic crisis that could possibly be even bigger than the depression of the 1930s. We are in uncharted territory. Now what is particularly troubling to working-class people is the rubbish coming out of the liberal establishment, specifically people like Obama who try to claim everything is just wonderful, and this is something that really drives people crazy because they see their lives being destroyed and the Democratic Party politicians who were supposed to help them are betraying them. And they're absolutely right. The disaster in England last night is a direct result of Tony Blair's New Labor, the betrayal of the British working class and particularly the international betrayal of Blair's participation in the international war crime of Bush's invasion of Iraq. Cost so far 3 trillion and counting. Death toll so far 1 million and counting. And the death toll could easily go up to 2-3 million if the situation in Iraq blows sky-high completely in the next couple of years, which is highly likely. So this is another warning sign.
TODAY'S CORRUPT LIBERAL ELITE
SIMILAR TO RULING ELITE BEFORE THE FRENCH REVOLUTION
The liberal elite is similar to the Ancien regime in France before the revolution. This is a political class and it is a dishonest political class, because the working-class looks at these people and realizes that these people are frauds. What this is doing is building a growing level of anger that could be directed in almost any direction. Now this makes our work even more important, where we need to take this anger and try to direct it in a positive direction, as opposed to a negative direction. What happened in England last night is an ominous warning of where things are going and things can get a lot worse because you got to remember that the debt bubble hasn't burst yet. The plutocratic debt bubble has not yet burst. We're still in the upward part of the debt bubble. They didn't solve problems back in 2008; they ran up a whole new pyramid of trash debt to paper over problems. Sorry that's not a solution. You can look at our website; we can go over all the details of that there. We can't go over all the details of that in this in our lecture here. But this is a sign. It's a warning of the collapse of the plutocratic liberal establishment that's coming and the revolutionary era that is going to emerge. And our role is to reach out to the future revolutionaries and not be contaminated - which I'm proud to say we are not - of being connected to the rotting, corrupt and malevolent establishment - and get these people to hopefully going to correct direction when the revolution occurs.
LIBERAL ELITE PUSH FOR TOTALITARIANISM
A final point that needs to be added, relating to the moral depravity of the liberal elite in this country, is their support for totalitarianism at home and the most criminal sorts of Imperial mass murder overseas, such as Libya, Syria, Yemen, Iraq and so on. Recently we had a gay man who was mentally troubled shoot up some people in a nightclub in Florida. The end result of that is that the liberal elite is calling for a sharp reduction in civil liberties all over America. Now why do they want to do the that? They want to do that to keep themselves in power. Yes that's where all this is going. So this is not a morally acceptable situation. People see it's not a morally acceptable situation and the dynamism for revolution is growing. It's growing stronger and a revolution is coming. That's the real future. Go to our website learn more about it. Learn where things should be going. That's the end of this lecture.