American workers are faced with an economic and social crisis on a scale not seen in decades. One after another, the pillars of American capitalism are crumbling around them: all the major banks and financial services companies; all the major auto makers; the dream of home ownership and a secure retirement; the aura of invincibility of U.S. military might; the promise of a tomorrow better than today. In short, the bedrock upon which U.S. capitalism has justified its continued exploitative existence has turned to quicksand. This is the backdrop for Obama's inaugural speech.
We republish here an interview from Upside Down World with Mark Meinster of the United Electrical Workers union in Chicago which was directly involved in the occupation of the Republic Windows and Doors factory in December. It is significant that the union president in the factory has been politicised and inspired by a visit to Inveval in Venezuela, the factory that was occupied by its workers, later nationalised and is being run under workers' control, and where the Revolutionary Marxist Current plays a leading role.
Barack Obama has been sworn in as America's 44th president. Now that the electoral dust has settled, many are already disappointed with Obama and his cabinet picks. Nonetheless, he enjoys astonishing approval ratings of over 80 percent. But this only means that the reaction to the inevitable disappointment will be that much more explosive.