Universal Proutist Intellectuals Federation

Dr. Ravi Batra, Southern Methodist University professor, presented causes and solutions to the economic crisis at a recent lecture at Brookhaven College.

During his lecture March 3 titled "The Present Economic Crisis and Its Solution," Batra spoke to approximately 200 government students and faculty.

Batra said political corruption and cutting interest rates are the causes, and raising wages is the solution to the crisis.

Batra is the author of two international The New York Times best sellers. In October 1978, he was ranked as the third in a group of 46 superstar economists selected from all American and Canadian universities by the Economic Enquiry journal.

Batra said he forecasted the downfall of communism from Russia in his book published in 1978. He said he wrote that the Chinese variety of communism could last a little longer but that it would eventually fall.

Batra said he predicted aspects of the current economic crisis in his latest book, "The New Golden Age: The Coming Revolution Against Political Corruption and Economic Chaos," in 2006.

He said he predicted the stock market crash, the housing market downfall and credit crisis in the book. He also foresaw a minority president would be elected. He said the new president would bring change.

Batra said President Obama is a nice man, but he selected experienced people with old ideas.

"If the government is not careful, recession will turn into depression," he said.

Michael Shuman advocates "Going Local," showing how local businesses are beating global competition and helping to create self-reliant communities. One innovative idea: invest locally by moving a portion of pension funds into regional stock exchanges.

Prophet of Boom (and Bust)

By KENDALL ANDERSON PHOTOS BY VISHAL MALHOTRA

The worst economic cycle in more than half a century has everyone from struggling homeowners to former Federal Reserve chairmen shaking their heads in disbelief. Jobs are disappearing, retail sales are in the toilet, bankruptcies of major companies are a daily occurrence, and an unprecedented, massive government bailout has failed thus far to unfreeze the credit system that is the lifeblood of U.S. capitalism.
Even the iconic architect of the current economic system himself, former Federal Reserve Chairman Alan Greenspan, told a Congressional panel several months ago that his deregulation and debt-is-OK approach was mistaken. But what exactly is causing the current worldwide financial meltdown, Greenspan said, he’s still trying to figure out.

Sister Nirainjana has been invited by the founding member of Consumers for Peace, Nick Mottern, to speak at a People's Bailout Rally on Saturday, December 13th at 12 noon in White Plains, NY. He has asked her to speak about how Prout principles relate to the current economic crisis:

This Saturday, Dec. 13 is the day of the “People’s Bailout March and Rally,”
starting at noon at the fountain in White Plains at the intersection
of Main Street and Mamaroneck Avenue.

The purpose of this gathering is to put forward items that we want to see Congresswoman Nita Lowey
introduce into the “stimulus” legislation that will be drafted in
Congress for the signature of Barack Obama the day he is inaugurated.

We will be asking people to fill out index cards to be given to the
Congresswoman after the rally, listing those things they want to see
funded.

At the same time, we will be calling for two legislative goals that will
HELP KEEP MONEY IN OUR POCKETS.

1. CAP CREDIT CARD AND MORTGAGE INTEREST RATES AT 5%.

Cong. Maurice Hinchey, from across the Hudson, introduced a bill
earlier this year to cap credit card interest rates at 20%. The 5% cap
recommended by Public Citizen is better. Mortgage interest rates
in some places are near 5%; this should be the maximum.

On our march from the fountain to Ms. Lowey’s office at 222
Mamaroneck Avenue, we will be pausing at the following banks to
distribute flyers on capping the interest rates.

Peoples United Bank
Capitol One Bank
Emigrant Savings
HSBC
M&T Bank

SMU economics professor and best-selling author Ravi Batra doesn't stay quiet when he smells a rat.

When Batra talks, alarms often go off.

And, just after Batra finished telling a government class that President-elect Barack Obama won’t be able to turn around the economy for at least three years, the fire alarms at Eastfield College went off early Tuesday morning.

For Eastfield students, it was the second day in a row that fire alarms had sounded.

For Batra’s students, alarms are nothing new.

Batra, known for writing The Great Depression of 1990, doesn't like the government bailing out the banks.

Batra, who also spoke recently at Richland College, said the United States is facing a terrible credit crisis, and the bankers have done it again. He doesn’t think Obama’s new economic team can immediately make a difference.

“Because there will be another election in two years,” Batra said. “It will take two or three years.”

Batra, author of The New Golden Age: The Coming Revolution against Political Corruption and Economic Chaos said making a living and investing will be difficult because of corruption.

"Whenever a crisis appears, Wall Street jumps to the front row to profit from it," Batra said. "America, wake up and say no to the worst plan yet devised for crisis profiteering."

The often-controversial author said that instead of solving a problem in the housing market, the bailout money is going to the wrong people and institutions.