COVID-19 Triggers Long Anticipated Economic Crash (4/24/2020) - As the capitalist economy hurls deeper into recession, the federal government and central banks are producing trillions of dollars that they conveniently couldn’t find for increasing the federal minimum wage or other needed social benefits. The trillions of dollars being released during the COVID-19 crisis are mostly being dumped into the pockets of the rich and corporations in a failed effort to prop up the stock market.
Coronavirus plunges capitalism into global turmoil -The need for a socialist alternative (3/23/2020) - This article was originally written for socialistworld.net, the website of the Committee for a Workers’ International. Statement from International Secretariat of the CWI 23 March 2020 The outbreak of the coronavirus pandemic has plunged world capitalism and society into an entirely new era of turmoil and upheaval. In country after country, as the pandemic hasContinue reading "Coronavirus plunges capitalism into global turmoil -The need for a socialist alternative"
Coronavirus infects world economy (3/10/2020) - This article was originally written for socialistworld.net, the website of the Committee for a Workers’ International. The biggest one-day fall in stock markets since the financial crisis; an oil price war between Saudi Arabia and Russia; and the fastest drop in the cost of oil for 30 years. The impact of coronavirus on an alreadyContinue reading "Coronavirus infects world economy"
What lies behind the US-China trade war? (5/24/2019) - This article was originally written for socialistworld.net, the website of the Committee for a Workers’ International. Last week, US President Donald Trump announced that under the rarely invoked International Emergency Economic Powers Act, the Chinese telecoms giant Huawei and seventy of its affiliated companies are set to be added to the ‘Entity List’. This effectivelyContinue reading "What lies behind the US-China trade war?"
New recession fear stalks the world economy (2/26/2019) - This article was originally written for socialistworld.net, the website of the Committee for a Workers’ International. 2018 marked ten years since the collapse of Lehman Brothers bank which plunged the world economy into the deepest economic recession since the 1930s. The financial virus spread quickly, causing production and trade to seize up. Only swift coordinatedContinue reading "New recession fear stalks the world economy"
10 years since the financial crash (9/14/2018) - This article was originally written for socialistworld.net, the website of the Committee for a Workers’ International. The socialist answer to capitalist crisis On 15 September this year, a posh get together takes place at a secret venue in London. At it, top bankers who were part of Lehman Brothers – once the fourth largestContinue reading "10 years since the financial crash"
World Economy: ‘Biggest danger to capitalism is capitalism’ (10/22/2015) - This article was originally written for socialistworld.net, the website of the Committee for a Workers’ International. Steel plant to close after a century of production, raw material prices collapsing, China’s economy slowing, the ongoing euro crisis… Eight years on from the crash that led to the great recession, the global monetary system remains unreformed andContinue reading "World Economy: ‘Biggest danger to capitalism is capitalism’"