Economy http://www.marxist.com/economy/ Fri, 29 Mar 2024 12:44:08 +0000 MYOB en-gb Inflation and interest rates: ruling class prepares to impose pain http://www.marxist.com/inflation-and-interest-rates-ruling-class-prepares-to-impose-pain.htm http://www.marxist.com/inflation-and-interest-rates-ruling-class-prepares-to-impose-pain.htm

Recent data has caused alarm amongst the ruling class, suggesting that inflation has become entrenched. In response, central bankers are looking to provoke a slump in the hope of quelling price rises. The only solution is socialist revolution.

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Economy Mon, 03 Jul 2023 12:20:23 +0100
Capitalism’s debt crisis: Expropriate the billionaires! http://www.marxist.com/capitalism-s-debt-crisis-expropriate-the-billionaires.htm http://www.marxist.com/capitalism-s-debt-crisis-expropriate-the-billionaires.htm

Countries, businesses, and households across the world are drowning in debt. As interest rates rise, the danger of default looms. To avoid a catastrophe, calls for debt cancellation are not enough. Instead, we must fight for revolution.

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Economy Mon, 26 Jun 2023 10:07:31 +0100
2023: another global recession is coming http://www.marxist.com/2023-another-global-recession-is-coming.htm http://www.marxist.com/2023-another-global-recession-is-coming.htm

The latest news shows that the economy is once again taking a turn for the worse. The Eurozone is in recession. China is slowing down sharply. The US is teetering on the brink. Another economic crisis is on the way.

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Economy Fri, 16 Jun 2023 17:04:55 +0100
Debt crisis: predatory powers fight over scraps in pillage of poor nations http://www.marxist.com/debt-crisis-predatory-powers-fight-over-scraps-in-pillage-of-poor-nations.htm http://www.marxist.com/debt-crisis-predatory-powers-fight-over-scraps-in-pillage-of-poor-nations.htm

A bankruptcy crisis is looming over the world. The New York Times has called it “a debt crisis unlike anything we have seen”. This isn’t the threat of a handful of banking behemoths going under, however, but rather of entire national economies. Some 54 low and middle-income countries are today teetering on the edge of bankruptcy.

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Economy Tue, 13 Jun 2023 16:32:57 +0100
‘Greedflation’: as prices rise, bosses make a killing http://www.marxist.com/greedflation-as-prices-rise-bosses-make-a-killing.htm http://www.marxist.com/greedflation-as-prices-rise-bosses-make-a-killing.htm

As the rate of inflation continues to cut into the living standards of workers, some businesses are posting record profits. Some have pointed the finger at price gouging and the excess profits of big business as the cause. This phenomenon has been dubbed by trade unions and commentators as ‘greedflation’.

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Economy Tue, 09 May 2023 14:05:57 +0100
Banking system on the brink http://www.marxist.com/banking-system-on-the-brink.htm http://www.marxist.com/banking-system-on-the-brink.htm

The situation has gone from bad to worse for the world’s financial markets. After three bank collapses in the US and one in Switzerland, the markets are looking for the next weak link.

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Economy Fri, 24 Mar 2023 18:24:15 +0000
Credit Suisse collapse: the whole system is broken – expropriate the banks! http://www.marxist.com/credit-suisse-collapse-the-whole-system-is-broken-expropriate-the-banks.htm http://www.marxist.com/credit-suisse-collapse-the-whole-system-is-broken-expropriate-the-banks.htm

The takeover of Credit Suisse (CS) by UBS exposes the massive instability of the global financial market. It is an expression of the rottenness of the world capitalist system. As always, while the bankers gamble away, the working class has to pay.

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Economy Thu, 23 Mar 2023 16:19:51 +0000
SVB collapse shows the fragility of the capitalist economy http://www.marxist.com/the-svb-collapse-shows-the-fragility-of-the-capitalist-economy.htm http://www.marxist.com/the-svb-collapse-shows-the-fragility-of-the-capitalist-economy.htm

This morning, banking shares fell rapidly – not only in the US and not just regional banks, but all over the world – in the aftermath of the collapse of US regional banks, SVB Financial and Signature over the weekend. What caused their collapse and are there wider implications?

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Economy Mon, 13 Mar 2023 17:26:55 +0000
“Largest increase in global poverty since WW2”: capitalists profit while the rest of us suffer http://www.marxist.com/largest-increase-in-global-poverty-since-ww2-capitalists-profit-while-the-rest-of-us-suffer.htm http://www.marxist.com/largest-increase-in-global-poverty-since-ww2-capitalists-profit-while-the-rest-of-us-suffer.htm

new report from Oxfam titled ‘Survival of the Richest’, exposes what may be the biggest increase in global poverty and inequality since the Second World War. Such is the extent of the yawning chasm between rich and poor, that Oxfam’s CEO warned in his speech introducing the report that “the entire capitalist system is under threat”.

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Economy Tue, 14 Feb 2023 16:32:26 +0000
Healthcare crisis causes global spike in excess mortality: the system is sick! http://www.marxist.com/healthcare-crisis-causes-global-spike-in-excess-mortality-the-system-is-sick.htm http://www.marxist.com/healthcare-crisis-causes-global-spike-in-excess-mortality-the-system-is-sick.htm

Healthcare systems across the world are facing a deep crisis in the face of austerity, rising healthcare needs and mass staff shortages. This is translating into a massive spike in excess deaths. People are perishing pointlessly under this rotten system. Only a revolutionary overthrow of capitalism can liberate public health from the yoke of capitalism.

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Economy Wed, 08 Feb 2023 09:56:29 +0000