Fighting global capitalism

Aaron Bastani’s Capitalist Realism

Submitted by cathy n on Tue, 25/12/2018 - 08:57
Venezuelan currency

Mark Fischer in his book Capitalist Realism outlines the titular concept, summed up in the phrase “it is easier to imagine the end of the world than the end of capitalism”. In a recent Twitter outburst, this is the concept Novara co-founder Aaron Bastani reached for in retort to people reacting to his tweet about trade under a Corbyn-led Labour government:

A case for socialism

Submitted by martin on Tue, 11/12/2018 - 10:18
Cause of labour

This week [November 1918] marks a century since the end of world war one. A conflict in which 70 million people were thrown into uniforms, given guns, gas, bayonets and bombs, and ordered on pain of execution or imprisonment to shoot, gut and poison each other. 10 million of them were butchered at each other’s hands and a further 8 million civilians died too. Why? What for? These millions were fed into a meat-grinder.

The answer to Trump: rebuild working-class organisation

Submitted by SJW on Wed, 18/07/2018 - 10:08
Trump demo

July saw the one-man circus that is President Donald Trump smear its rancid trail across Europe.

Most eye-catching was Trump’s support for the anti-immigrant racism of the European populist right. He re-told the standard cultural racist narrative to the Sun, saying that immigration had “changed the fabric” of the continent “I think you are losing your culture.”

Comeback for super bankers

Submitted by SJW on Wed, 04/07/2018 - 11:28

The thermometer-busting moment of the 2008 economic crash was the collapse on 15 September 2008 of Lehman Brothers, then the USA’s fourth-largest investment bank. It was the biggest bankruptcy in US history.

After it, it seemed doubtful for a while whether the other big investment banks could survive without drastic reshaping.

By 2017, so the Financial Times reports (12 June 2018), “group-wide profits last year of $78.4 billion across the top nine investment banks — excluding the much-changed Bank of America — were higher than the $75.4 billion recorded in 2007”.

For a workers' audit!

Submitted by SJW on Tue, 22/05/2018 - 19:52

Two Parliamentary committees, both headed by right-wing Labour MPs (Frank Field and Rachel Reeves) have called the UK’s big four accountancy firms to be referred to competition authorities for potential break-up.

Investigating the collapse of Carillion, which made its bosses millions from taking on outsourced contracts, the MPs found that the firms supposed to audit (check) the firm’s figures were a “cosy club incapable of providing the degree of independent challenge needed”.

Slump-prone economy

Submitted by SJW on Tue, 01/05/2018 - 21:16

In the last year or so, world capitalism has had its nearest approach to a general economic revival since the crash of 2008.

A clutch of figures at the end of April show that the revival is very weak. Britain’s first-quarter GDP growth was reported at just 0.1 per cent. Britain’s GDP growth figure is only 1.2% during the past year, the lowest figure since 2013.

The “purchasing manager’s index” for Britain’s industry was at a 17 month low in April.

Protest Trump on 14 July

Submitted by SJW on Wed, 25/04/2018 - 11:15

In January 2018, US President Donald Trump cancelled a planned trip to the UK.

His stated reason was that the famously unsuccessful realtor didn’t fancy the “off-location” US Embassy. But the real reason was almost certainly that Trump wanted to duck the huge wave of protest that anyone could see would meet any visit. The racist, authoritarian and climate-change-denying policies of the Trump administration stoked a storm of indignation and a series of huge rallies at the very suggestion of his visit.

An instructive story about how laws are made

Submitted by martin on Sat, 23/12/2017 - 20:56
How the rich rule

The US Congress has passed the tax-cuts scheme pushed by Donald Trump and long desired by Republicans.

The Republicans say that a lot of people will get tax cuts in the short term, and that the big benefits ceded to the rich and to businesses will "trickle down" into improvements from workers. Everyone else says the tax changes are a shameless act of social larceny.

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