Tag: Capitalism’s failure

Perspectives of the upturn

Perspectives of the upturn

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Written by Leon Trotsky (August 18, 1932)

The Unfolding Capitalist Crisis – a nightmare for workers everywhere

The Unfolding Capitalist Crisis – a nightmare for workers everywhere

By Rob Sewell

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Can Obama Save Capitalism?

Original article, and editorial, via Socialist Appeal (US):

The capitalist system may well be suffering the worst crisis in its history. According to George Soros, billionaire investor and frank analyst of the system he defends, the world financial system has in effect disintegrated and there is no possibility of a near-term resolution to the crisis. He believes that the turbulence is in fact worse than during the Great Depression and that the current crisis is equivalent to the collapse of the Soviet Union. As he recently told an audience at Columbia University: “[Capitalism] was placed on life support, and it’s still on life support. There’s no sign that we are anywhere near a bottom.”

The Rise and Fall of the Communist International

Original article, by Ted Grant (originally written June 1943), via Socialist Appeal (UK):

The Third International has been officially buried. In the most undignified and contemptible fashion it would be possible to conceive, it has passed off the stage of history. Hurriedly and without consultation with all the adhering parties, not to speak of the rank and file throughout the world, without any democratic discussion and decision, as the result of the pressure of American imperialism, Stalin has perfidiously abandoned the Comintern.

Nader: Wither Wall Street

Original article, by Ralph Nader, via nader.org:

Soon after the passage in 1999 of the Clinton-Rubin-Summers-P. Graham deregulation of the financial industry, I boarded a US Air flight to Boston and discovered none other than then-Secretary of the Treasury Lawrence Summers a few seats away. He was speaking loudly and constantly on his cell phone. When the plane took off he invited me to sit by him and talk.

Obama’s calculated anger over Wall Street bonuses

Original article, by Tom Eley, via World Socialist Web Site:

On Thursday, President Obama publicly criticized Wall Street bankers who awarded themselves more than $18 billion in annual bonuses even as their banks collapsed, driving the US and world economy into the greatest economic crisis since the Great Depression.

The biggest swindle of all

Original article, subtitled Bernie Madoff’s $50 billion fraud had a lot in common with the everyday workings of capitalism, says Alan Maass, via socialistworker.org:

THEY LINED up to give him their money because he always delivered. Big European banks, assorted hedge funds, super-rich philanthropists, sports moguls–they all flocked to Bernie Madoff’s investment firm because he produced stellar returns, year in and year out.

The spectre is back

Original article, an editorial, via Socialist Appeal (UK):

In 1848 The Communist Manifesto opened with the line, “A spectre is haunting Europe – the spectre of communism. ” The spectre of Marx haunts world capitalism still.

US and global manufacturing collapsing

Original article, by Joe Kishore, via World Socialist Web Site:

Manufacturing in the US is collapsing, with a key index falling to its lowest level in 20 years on Friday. Other figures released yesterday show a downturn in production throughout the world.

The crash of 2008 and the prospects for 2009

Original article, by Nick Beams, via World Socialist Web Site:

Whenever a historical review is made certain years attract attention because of the decisive events with which they are associated. The years 1914, 1929, 1933, 1939 and in more recent times 1956 and 1989 are some that come to mind. The year 2008 is destined to join this group.

Why read Lenin today?

Original article, by Paul Le Blanc, via Socialist Worker (UK):

The acclaimed Marxist historian Paul Le Blanc explains why Lenin’s political ideas are vitally important for anyone who wants to understand capitalism and struggle against it.

Obama’s jobs plan: A band-aid for an economic catastrophe

Original article, by Patrick Martin, via World Socialist Web Site:

The economic plan announced Saturday by President-Elect Barack Obama, with the goal of “saving or creating” 2.5 million jobs in 2009 and 2010, is a measure that has already been outstripped by events. The deepening crisis of American and world capitalism could destroy that many US jobs in the next six to nine months alone.

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