Debt Disaster With No Escape

The IMF-World Bank semi-annual meeting starts this week.  Earlier the IMF kicked off the show with a warning that the poor countries of the world are heading for a catastrophe from the pandemic slump, leading to defaults on the debts that their governments and companies owe to investors and banks in...

The world economy plummets: major clashes are looming

"It is now clear that we have entered a recession – as bad as or worse than in 2009," said Kristalina Georgieva, managing director of the International Monetary Fund (IMF), in late March . Actually, the announcement only confirmed an ongoing trend long before the pandemic but is now...

The Deflation of Speculative Bubbles

The effects of the pandemic on the already existing trend of decline in the world economy are already causing several speculative bubbles to deflate and for other bubbles to threaten to burst. By Alejandro Iturbe. Speculative bubbles are the result of the inflow of surplus capital from production that does not...

Before the Capitalist Catastrophe, the Solution is Socialist Economic Planning

Socialism means workers' democracy and planned management of the economy. Only in a working-class democracy can the working class dominate and effectively rule By Jeferson Choma Rarely in history is the catastrophic and destructive potential of capitalism exposed as clearly as we witness it today. This is no exaggeration. The very...

The Gravity of a Possible New World Recession

  The world is experiencing a succession of convulsive processes of the class struggle, with revolutionary ascents (such as those lived in Chile, Haiti, Hong Kong, Lebanon, Iraq, and others), and also counter-revolutionary coups (as in Bolivia).              It is important to identify that there is a material basis for...

A Global Manufacturing Recession

As we enter October, the global recession is with us – in manufacturing.  The PMI manufacturing activity indexes for most of the major economies are below 50, the threshold for expansion or contraction.  These are only surveys of corporate managers asking them about production, sales, employment etc.  But PMIs...

The G20 and the Cold War in Technology

Last weekend’s G20 summit in Osaka resolved nothing substantial in the ongoing trade and technology war that the US is now waging with China. At best, a truce was agreed on any further escalation in tariffs and other measures against Chinese tech companies.  But there was no long-lasting agreement...

What leaves 2018 and what is coming in 2019 for our struggles

No one can deny that 2018 was an intense year. Imperialism and the national bourgeoisies have not ceased in their attacks, standing firm in their intention to make the working class and the exploited people of the world paying for the economic crisis, which they generated. By Daniel Sugasti More than...

Turkey: The beginning of the “Raki Effect”?

In 1994, the Mexican financial crisis had a strong international impact called the “tequila effect”. Currently, the crisis lived by the Turkish currency (lira) also begins to expand to other countries. Has the “raki effect” began? By: Alejandro Iturbe The current crisis of the Turkish lira was triggered by the announcement...

What Lies Behind Trump’s Threat of Trade War?

"We are like the piggy bank that everyone is robbing, but this is over." With these words, US President Donald Trump announced that his country would not sign the G7 summit’s joint statement held in Canada on June 8-9. By Marcos Margarido.   A few hours earlier, Canada's Prime Minister Justin Trudeau...

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