Shared via AddThis
Written by Leon Trotsky (August 18, 1932)
Sep 01 2009
Shared via AddThis
Mar 01 2009
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.”
Feb 06 2009
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.
Feb 02 2009
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.
Jan 31 2009
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.
Jan 28 2009
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.
Jan 03 2009
Jan 02 2009
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.
Nov 24 2008
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.