Wednesday, September 17, 2008

Crisis in Capitalism (a redundant phrase, really)

When I gave my sub-prime mortgage crisis talk in 2007, skeptics were saying it was no big deal. "The economy will rebound," "deregulation is always a good thing," trust the market," etc. Armed with Marxist analysis of economics and recognition of the fundamental principles of a crisis of overproduction, allowed us to see the sub-prime mess was just a precursor of a much larger catastrophe. A good time to re-read Rosa Luxemburg, to understand how credit eventually exacerbates crisis. This is playing out exactly the way she explains in "Reform of Revolution."

The bi-partisan neoliberal project is now bearing fruit. While the Bush gang certainly helped to accelerate this with their murderous 2.1 billion dollar a week occupations, the chicken were going to come home to roost eventually. It is going to take serious struggle on the ground to keep this entire thing from being placed on our backs.

A system out of control
Crucial analysis of the scope of the crisis, and addresses how there isn't any quick fix using their usual tools. This article is a must read!

Working harder and falling behind
The ruling class wants someone to pay to get them out of their latest crisis. Guess who they want that to be?

US Economy: Rudderless and Reeling from Direct Hits
When fiscal conservatives like Paul Craig Roberts agree with us on deregulation being a prime cause, you know the system is in crises.


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