Neue VeranstaltungshinweiseEs wurden keine neuen Veranstaltungshinweise in der letzten Woche veröffentlicht Kommende VeranstaltungenNorth America / Mexico | Economy Keine kommenden Veranstaltungen veröffentlicht Here Comes Bourgeois Socialism – Again 03:18 Apr 28 2 comments The US-Turkey stand-off in context: the US and the weaponisation of global finance 19:04 Sep 13 0 comments Fuel Price Hikes Hammer South Africa’s Working Class 17:53 Sep 20 1 comments The Davos Blind Eye: How the Rich Eat the Poor and the World 18:07 Jan 26 0 comments Riflessioni sullo stato di crisi del capitalismo 06:41 Dec 24 0 comments mehr >> |
Recent articles by Randy (personal capacity)
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Recent Articles about North America / Mexico EconomyUn México en las calles, un México en rabia Jan 12 17 El atentado de Orlando y las opciones presidenciales de los EUA Jun 21 16 The Periodic Crises of Market Economies
north america / mexico |
economy |
opinion / analysis
Sunday October 12, 2008 05:13 by Randy (personal capacity) - supporter of the Captal Terminus Collective, NEFAC
The US economy is in crisis. Construction has halted and credit is scarce. Companies remaining in business slash their workforces. The stock market is turbulent, even as Congress bails out the bankers. (Meanwhile, working homeowners and renters are left to fend for ourselves, indeed to finance the bailout of the banks.) Corporate news outlets are careful to avoid alarmist tones when reporting on economics, lest they cause panic in the marketplace. Yet, for the first time in memory, parallels are being drawn between current events and those that preceded the Great Depression of the 1930's. |
HauptseiteSupport Sudanese anarchists in exile Joint Statement of European Anarchist Organizations International anarchist call for solidarity: Earthquake in Turkey, Syria and Kurdistan Elements of Anarchist Theory and Strategy 19 de Julio: Cuando el pueblo se levanta, escribe la historia International anarchist solidarity against Turkish state repression Declaración Anarquista Internacional por el Primero de Mayo, 2022 Le vieux monde opprime les femmes et les minorités de genre. Leur force le détruira ! Against Militarism and War: For self-organised struggle and social revolution Declaração anarquista internacional sobre a pandemia da Covid-19 Anarchist Theory and History in Global Perspective Capitalism, Anti-Capitalism and Popular Organisation [Booklet] Reflexiones sobre la situación de Afganistán South Africa: Historic rupture or warring brothers again? Death or Renewal: Is the Climate Crisis the Final Crisis? Gleichheit und Freiheit stehen nicht zur Debatte! Contre la guerre au Kurdistan irakien, contre la traîtrise du PDK Meurtre de Clément Méric : l’enjeu politique du procès en appel North America / Mexico | Economy | en Fri 29 Mar, 02:23 The Chicago Teachers Strike and the Privatization of a Generation 07:42 Wed 26 Sep 0 comments John Jacobsen reports on developements in the contract negotiations between Chicago Public Schools and the Chicago Teachers Union in the context of public school closings and the rise of charter schools. [Italiano] Resisting the G20 19:15 Wed 07 Jul 0 comments The UCL wishes to salute the courage of all those people, radical or not, who dared to challenge the climate of terror created by the State and who took part in the protests against the G20 Summit in Toronto. [Français] 15 000 people against the budget in Montreal 12:25 Sun 04 Apr 0 comments On 1 April 2010 some 15,000 people filled the business district in Montreal at the invitation of more than 95 organizations of unions, feminists and students. Was this was the first stage of a unified response against the Liberal budget ? Only time will tell. In any case, it was a beautiful demonstration of the great popular procession type, very diverse , unified and combative (at least at the level of rhetoric...). Workers Without Bosses - Ontario/Quebec Speaking Tour 11:08 Thu 21 Jan 0 comments We are going through one of the worst economic crises in the history of capitalism and the answers provided by the state and its lackeys are illusory. In addition, faced with this impasse, our leaders are trying to shift the entire burden of the crisis to workers and their communities. Factories without bosses (Take 2): 13:58 Sun 03 Jan 0 comments We are going through one of the worst economic crises in the history of capitalism and the answers provided by the state and its lackeys are illusory. In addition, faced with this impasse, our leaders are trying to shift the entire burden of the crisis to the workers. Canada gears up for SPP protests 07:11 Fri 17 Aug 0 comments On August 20-21 Canada's Prime Minister Stephen Harper meets in secret with George Bush and President Felipe Calderon of Mexico at Montebello, Quebec as part of the Security and Prosperity Partnership (SPP). The SPP has as a goal the elimination of differences on standards between the USA, Canada and Mexico. Under this process Canada is already raising the quantities of pesticide residues that are allowed to be on food USA minimum wage at seventy year low! 19:38 Fri 04 Nov 4 comments During the Great Depression of the 1930s, unskilled and non-unionised workers got $7.89 per hour in today's money. In other words, the Republican politicians have decided that America's workers should get a minimum wage 35% lower than workers 70 years ago Crisis and Revolt Sep 28 0 comments Liberals and progressive forces support the Democratic Party in elections, even though humanity is facing a number of interconnected threats and nightmarish catastrophes: economic, ecological/climate, and others. Democratic liberals, while perhaps the "lesser evil" to the Republican reactionaries, have no solutions to the objective dangers which threaten society with great suffering and destruction. The only real alternative is popular mass struggle or defeat--socialist-anarchism or catastrophes. There’s No Hope Above Us, Only Amongst Us Nov 22 0 comments With the recent re-election of Barack Obama as President of the United States, many are rejoicing and breathing a sigh of relief. There’s a widespread belief amongst those who elected him that he is looking out for us and will fight for us. Unfortunately, besides a few token gestures that may occur during the next four years, his tenure in office is likely to be both a disappointment and one in which the interests of the elite classes are served at the expense of the popular classes. As described below, this has to do with structural, historical and social factors that have been ensuring, and continue to ensure, that this is the case regardless of who is in office. However, there is hope; we’re just looking for it in the wrong places. [US] Of Budget Cuts and Union Officials Jun 14 0 comments The official business union strategy of supporting the Democratic Party falls flat on its ass... again. [Italiano] Reflections on Stiglitz article: "Of the 1%, by the 1%, for the 1%" Jun 03 0 comments A family member of mine recently sent me an article from Vanity Fair by economist Joseph Stiglitz about the problem of elite control within the United States. While it's refreshing that the article is talking about the problem to a mainstream audience, it stops short of delving deep enough the problem at a systemic level, and perhaps more importantly: doesn't address the need for complete systemic change. The broader points that Stiglitz brings up are also supported by the Economic Policy Institute - an economics resource that has some great research reports on the topic of how government policy has favored the elite - including: a report showing how the budget cuts proposed in comparison to the tax cuts given and another showing how recently all economic gains have gone to the top 10% (with over 75% of those gains going to the top 1%). Wall Street Already Finding Loopholes in Financial Reform Legislation Nov 17 0 comments Continuing in the tradition of watered down, pro-corporate legislation that the Obama administration is becoming infamous for, new reports are surfacing that banks and financial institutions may continue to get away with the same risky trading and investment practices that landed us in a recession. Resisting the G20 Jul 07 Union Communiste Libertaire 0 comments The UCL wishes to salute the courage of all those people, radical or not, who dared to challenge the climate of terror created by the State and who took part in the protests against the G20 Summit in Toronto. [Français] Workers Without Bosses - Ontario/Quebec Speaking Tour Jan 21 0 comments We are going through one of the worst economic crises in the history of capitalism and the answers provided by the state and its lackeys are illusory. In addition, faced with this impasse, our leaders are trying to shift the entire burden of the crisis to workers and their communities. Factories without bosses (Take 2): Jan 03 Union communiste libertaire 0 comments We are going through one of the worst economic crises in the history of capitalism and the answers provided by the state and its lackeys are illusory. In addition, faced with this impasse, our leaders are trying to shift the entire burden of the crisis to the workers. |
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Spring zu Komment: 1 2Long long years ago capitalists owned the capital they apply for their businesses. As results of the concentration of capital, and change in the structure of the capitalist class, more and more capital is managed by smaller and smaller number of businesses. As result - the financial system mediate between the owners of savings and small capitalists and the big firms.
As the power of the two sides is not equal, we see smaller percent of profits to the smaller holder of capital.
The huge increase of profits resulting from the neo-capitalism and globalization, increase immensely the load and role of the international financial system.
We also see long term investments of capital based on shorter term credit (which is cheaper).
In addition, special to the present crisis, we see the haphazard credit for homes in US mainly in procedures that were sure to make a short live bobble with imminent disaster under the nous of the central authorities.
As result of the exploding of the "subframe mortgages" bobble, on the back ground of US chronic budget deficits and speculative mounting of prices of oil, and other commodities, the flow of capital through the financial system was abruptly slowed down.
It will take lot of efforts to make the flow of capital (and credit) to return to normal. It will involve lot of adjustments as well as significant increase in the concentration of capital, and change in balance of power among holders of big capital inside and outside US.
I've been writing articles on the crisis which people may find of interest. They can be found here:
http://anarchism.pageabode.com/cat/anarcho
Latest post is on Paul Krugman getting the so-called Nobel prize for economics, but there are plenty of others of the credit crunch and related developments (plus lots of other things).