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Explaining the coming crisis of capitalism

Business news headlines recently bemoaned the incidence of “bond yield inversions” in a series of countries as the supposed harbinger of doom and destruction. Many working-class people were left scratching their heads about what on earth this all means. 10 years after the “Great Recession”, many could be forgiven for thinking that we have been living in permanent recession and things can’t get any worse. The reality is that, while things have not been good in most countries, things can also get far, far, worse. In this article, we will explain why.

Attacks on Saudi oil facility and the changing landscape of the Middle East

A series of attacks on Saudi oil installations have set sparks flying once again in the Middle East. Only months after a last-minute cancellation of a US strike on Iran – and weeks after reaching out for talks without any preconditions – US President Donald Trump is yet again filling the twittersphere with threats and intimidation. Meanwhile, oil prices shot up by 20 percent and the ripple effects are already working their way through the sensitive oil and currency markets.

Italy: Conte 2.0 is no worker-friendly government!

The Italian government crisis during the summer holidays has been settled with the birth of a new government, composed of the 5-Stars Movement (M5S) and the Democratic Party (PD). This represents a complete upending of the situation, sparked by the decision of former Deputy Prime Minister and Minister of the Interior, Matteo Salvini, to break from the former coalition.

Russia: IMT-supported candidate wins seat in Moscow council

Elections to the Moscow City Duma (city council), despite the typical vote manipulation and skullduggery, inflicted a crushing defeat on United Russia in comparison with previous contests. The opposition received almost half of the seats in the city Duma, while some districts were taken by United Russia, thanks to bureaucratic measures and the actions of pseudo-communist wreckers. It was only due to these underhanded methods that the government was able to maintain a controlling stake in the local Duma.

The USA is no friend of Hong Kong

The Sunday 8 September protest threatens to lead the movement in Hong Kong in a reactionary, openly pro-US imperialist direction. This is extremely dangerous for the movement and must be firmly and unequivocally rejected.

El Salvador: solidarity with the STISSS union – stop the attacks of the labour minister and his henchmen!

The new labour minister, Rolando Castro – a former unionist – has started a crusade against the Salvadoran Institute of Social Security Workers’ Union STISSS. Using the state apparatus and with “legal” manoeuvres, he has organised a coup d'etat against the union's leadership. The leadership that was elected in a general assembly in 2018 has been dismissed and expelled from the organisation. Based on an “assembly” that never took place, and with the backing of “legal” accreditations from the Ministry of Labour, a gang of puppets commanded by Ricardo Monge (an old trade union bureaucrat) has arbitrarily taken control of the union's leadership.

Britain: parliament shut down – now let's build for an election

Parliament has now been shut down for five weeks by an unelected Prime Minister and a hereditary monarch. This scandalous state of affairs is perfectly legal under the constitution. This is what British parliamentary ‘democracy’ looks like.

Portugal: housing crisis spreading beyond city centres

The Times recently published a survey of 885 property investors, undertaken by PwC and the Urban Land Institute, which placed Lisbon as the number one European hotspot for investment in 2019. The city had jumped up from eleventh place in the same survey the previous year.

The real fire devouring the Amazon, Chiquitanía and Gran Chaco is capitalism

“Money is the universal self-established value of all things. It has, therefore, robbed the whole world – both the world of men and nature – of its specific value.” – Karl Marx (1843)

From space, in various satellite images, you can see columns of smoke and suspended particles ascending above the most extensive and biologically diverse tropical forest in the world: the Amazon.

Zimbabwe: the death of Mugabe and the hypocrisy of the West

Since the death of Robert Mugabe last Friday, Western media outlets have been falling over themselves to show their distaste for the former dictator. What is not reported is that, for most of his 37-year rule, Mugabe was the darling of the West. As long as he was faithfully implementing the policies of Western imperialism, they propped up his regime and turned a blind eye to his atrocities. But that is all forgotten today, and Mugabe is portrayed as having mercilessly persecuted his opponents and ruined his country single-handedly.

Marxism vs Modern Monetary Theory (MMT)

MMT has created a buzz on the left recently, with its supporters citing it as an answer to all our economic woes. Instead of trendy new ideas, however, we need the clear, scientific analysis of capitalism that Marxism provides – Adam Booth writes.

Russia: IMT leads fightback against clergy and construction mafia in Moscow

“This land is your land, this city is your city! And no one has the right to decide its future, but you – the working people of Moscow!” This appeal from a Russian IMT activist was greeted with an explosion of applause at a recent rally in the Zyuzino district of Moscow.

Hong Kong: extradition bill withdrawn – class struggle must continue!

The mass movement in Hong Kong has just won its key demand – the withdrawal of the hated extradition bill that would allow anyone the Beijing government suspects of criminality to be extradited to the mainland. But none of the other four demands, such as for an independent investigation into police brutality, have been won.

Britain heads for a general election: mobilise for a Corbyn victory!

His government is just two days old, but Boris Johnson has already managed to lose his majority and rack up two defeats in the House of Commons. No government in history has faced such an immediate losing streak. This demonstrates how weak the Tory leader and his regime are.

Brazil: death and destruction in Bolsonaro’s Amazon

In the last month, the Amazon rainforest has been the centre of attention for Bolsonaro’s government. After a prolonged arm-wrestling match that culminated with the sacking of Ricardo Galvão as Director of the National Institute for Space Research (INPE), the Bonaparte wannabe is putting on a show of bravado in a spat with some of the wealthiest countries in Europe about the region’s conservation.

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