Europe Solidaire Sans Frontières
, by HUSSON Michel
This article contains graphs which are not repoduced here and can be consulted on International Viewpoint website at:
The crisis that we are witnessing today is shaking the very foundations of neo-liberal capitalism. It is unfolding at an accelerating speed, and nobody is capable of saying (…)
, by KATZ Claudio
The seism on Wall Street has surprised the world Establishment. At the summits of power, panic and alarmist declarations dominate. Everyone is absorbing an event which could be the beginning of a change of epoch. The comparison with the fall of the Berlin Wall gives some indication of this (…)
, by GINDIN Sam, PANITCH Leo
’They say they won’t intervene. But they will.’ This is how Robert Rubin, Bill Clinton’s Treasury Secretary, responded to Paul O’Neill, the first Treasury Secretary under George W. Bush, who openly criticized his predecessor’s interventions in the face of what Rubin called ’the messy reality of (…)
, by BELLO Walden
Many on Wall Street and the rest of us are still digesting the momentous events of the last 10 days. Between one and three trillion dollars worth of financial assets have evaporated. Wall Street has been effectively nationalized. The Federal Reserve and the Treasury Department are making all the (…)
, by LA BOTZ Dan
The political conflict over the Bush administration’s plan for a bailout of the banks, brought about both by differences with the Democrats and even more intensely with rightwing Republicans, makes it highly unlikely that Congress will be able to pass a bailout plan that can stabilize the (…)
, by TOUSSAINT Éric
While taking a significant toll on public revenues repayment of the public debt has, since 2004, ceased to be a major concern for most middle-revenue countries and for raw material-exporting countries in general. In fact the majority of governments of these countries are having no trouble (…)
, by POST Charles
IS THE BANKING crisis the end of capitalism as we know it?
Put simply, no. Capitalism cannot avoid periodic short-term and long-term crises of falling profits and economic stagnation. However, as Marx pointed out over 150 years ago, capitalism has internal mechanisms — driving down wages, (…)
, by KILMISTER Andy
The current credit crisis is throwing into question the whole of the neoliberal, free market, order that when the post-war boom went into crisis in the mid-1970s, it was eventually resolved in the mid-1980s by a new economic order, neoliberalism. The current crisis has put that order in (…)
, by BELLO Walden
When tens of thousands of people staged demonstrations in Mexico last year to protest a sharp increase of over 60 per cent in the price of tortilla, the flat unleavened bread that is Mexico’s staple, many analysts pointed to biofuels as the culprit. Owing to US government subsidies, turning (…)
, by GUTTAL Shalmali
In a press conference in Timor Leste’s capital city Dili on May 14, top UN officials declared that the country is not at a risk of starvation from the global food crisis. According to the World Food Programme (WFP) Country Director Joan Fleuren in Timor Leste, “The Government is working hard to (…)
, by WILSON Bee
The global food market fosters both scarcity and overconsumption, while imperilling the planet’s ability to produce food in the future.
In his “Essay on the Principle of Population,” of 1798, the English parson Thomas Malthus insisted that human populations would always be “checked” (a polite (…)
, by KRISHNAN Kavita
May 7, 2008 — Karl Marx, born on 5 May, 1818, nearly two centuries ago, had in 1867 laid bare the ``intimate connection between the pangs of hunger of the most industrious layers of the working class, and the extravagant consumption, coarse or refined, of the rich, for which capitalist (…)
, by MILLET Damien, TOUSSAINT Éric
The randomness of numbers sometimes throws up some striking coincidences. Behind the shadow plays conjured up by the zealous servants of neoliberal globalisation, the brutal backstage reality revealed itself this week, through the publication of two international statistics.
On the one hand, (…)
, by MILLET Damien, TOUSSAINT Éric
Since August 2007, US and European banks have constantly made headline news concerning the deep crisis they are going through and its knock-on effect on the neoliberal economic system as a whole. Asset depreciation for these banks currently stands at over 200 billion dollars. Several banking (…)
, by BELLO Walden
Walden Bello was invited to participate in the Economist’s Debate Series on “Freedom and its Digital Discontents.” The proposition of the debate was “By intervening to regulate business and financial risks, governments have made things worse.” The debate can be accessed here: (…)
, by BELLO Walden
Skyrocketing oil prices, a falling dollar, and collapsing financial markets are the key ingredients in an economic brew that could end up in more than just an ordinary recession. The falling dollar and rising oil prices have been rattling the global economy for sometime, but it is the dramatic (…)
, by Against the Current, BRENNER “Bob” Robert P.
THE CURRENT CRISIS could well turn out to be the most devastating since the Great Depression. It manifests profound, unresolved problems in the real economy that have been — literally — papered over by debt for decades, as well as a shorter term financial crunch of a depth unseen since World War (…)
, by PRINS Nomi
IT WASN’T UNTIL I flew to the United Kingdom on Saturday, September 15th, that the globalized nature of the sub-prime contagion really hit home, as it were, for me. On my flight over, I grabbed a copy of the UK Telegraph newspaper, the front page of which looked like something shot at a Great (…)
, by CONNADI Danilo
Rome,
Many newspapers have described the financial crisis of risky (“subprime”) housing loans as being primarily the result of the manoeuvres of unscrupulous financial investors. According to them, what we are seeing is a crisis having essentially speculative roots and thus little impact on (…)
, by JOHSUA Isaac
A speculative bubble can relate to assets that are real (property, land, etc.) or financial (shares, etc.) ; it manifests itself by an increasingly rapid rise in the prices of these assets. They end up by reaching such levels as appear excessive, even making an optimistic evaluation of the (…)
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