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16 May 2012
JP Morgan: banksters at it again
The financial sector is back in the news as it emerged that cowboy investors at JP Morgan's London office have lost $2 billion (£1.2 billion), leading to a run on shares which swept $19 billion off the bank's market value in just two days, writes Ross Saunders.
2 May 2012
Capitalist crisis: 'Up to half of all Icelandic families are bankrupt'
Iceland's economy is growing again after the deep recession that struck in 2008. But the economic and political crisis is far from over, writes Per-Åke Westerlund. From Offensiv, newspaper of Rättvisepartiet Socialisterna (CWI in Sweden).
Jarrow demonstration: we are the 99% Take the wealth off the 1%, photo Paul Mattsson
22 February 2012
In response to the growing opposition to this profit-hungry capitalist system, many of its proponents have argued that not all capitalism is bad. Lynn Walsh exposes the myths proposed by prime minister Cameron as he tries to sell us the idea of 'popular' capitalism.
1 February 2012
EU summit - no capitalist solutions to the spiralling eurozone crisis
As the capitalist politicians arrived in Brussels for the 30 January EU summit they were met with a clear and determined message from the Belgian working class - a magnificent 24 hour general strike - the first in the country for nearly 20 years - in defiance of the summit's austerity agenda...
14 December 2011
Everyone's struggling to keep the show on the road this Christmas, aren't they? Well children of the 1% don't have to worry at all about what Father Christmas is bringing. Parents who frequent Selfridges...
Photo Paul Mattsson
7 December 2011
Cuts and misery - it doesn't have to be like this
Unsurprisingly a doom-laden response has greeted Tory chancellor George Osborne's devastating attack in the autumn statement, writes Paula Mitchell, Socialist Party London secretary.
Flooded with Debt, photo Suz www.squashdonkey.co.uk
7 December 2011
Homes Crisis: Fund housing need - not fat cat greed!
The Con-Dems have announced a 'housing strategy' that benefits big building companies and banks, including selling off more social housing stock and underwriting banks that offer 95% 'subprime' mortgages for newly built houses, writes Paul Kershaw, Unite LE 1111 housing workers' branch.
30 November 2011
Ian Hislop's BBC documentary 'When Bankers Were Good' starts by quoting ex-New Labour minister Peter Mandelson's line "I'm intensely relaxed about people getting filthy rich", writes Ian Pattison.
The Jarrow March for Jobs 2011 ends with a demonstration in London on 5 November , photo Sujeeth
23 November 2011
Jarrow marchers put forward an alternative
Minimum wage not to blame: On the day that the latest unemployment figures were announced I was asked to debate with Mark Littlewood of the Insititute of Economic Affairs (IEA) on the Tony Livesy show on BBC Radio 5Live, writes Paul Callanan, Youth Fight for Jobs national organiser.
9 November 2011
Failed G20 summit takes eurozone nearer to the abyss
The G20 meeting of the world's most powerful government leaders on 3 and 4 November was a 'No Cannes Do' summit. The discussions were hijacked by the Greek crisis...
26 October 2011
Euro crisis - urgent need to build a socialist alternative
The leaders of the European Union (EU) are desperate for a way out of the crisis in the eurozone. Political quarrels between different capitalist politicians have caused a decision on the eurozone's next...
Photo Paul Mattsson
19 October 2011
15 October: day of intercontinental resistance
Break the power of the banks and big business: On 15 October, all around the globe, the "enraged", the "indignad@s", the "occupiers of Wall Street", took to the streets to challenge the power of big business...
12 October 2011
Sovereign debt crisis, recession... No way out under capitalism
Banks continue to demand government bailouts; an ever-deepening sovereign debt crisis in Europe and the USA; mass unemployment and cuts in services on a level not seen since the 1930s; a widening gulf between rich and poor....
12 October 2011
US: Occupy Wall Street - Demanding jobs not cuts
We are fighting back! Bryan Koulouris of Socialist Alternative, CWI in the US, spoke to the Socialist about the Occupy Wall Street movement which has been spreading across hundreds of towns and cities in the US
5 October 2011
Tory conference farce - Carry on cutting!
A Guardian editorial summed up chancellor George Osborne's conference speech as: "while the basic facts have changed, his basic script has not", writes Sarah Sachs-Eldridge.
5 October 2011
USA: Occupy Wall Street struggle spreads
Corporate greed and banks domination challenged: An anti-capitalist protest movement has sprung up in New York, occupying central plazas, inspired by the North African protests earlier in the year dubbed the 'Arab Spring' and similar actions in Spain, Portugal and Greece...
Photo Paul Mattsson
28 September 2011
World economy in meltdown - we won't pay for capitalist crisis
In a recent address to the Canadian parliament, David Cameron bluntly said: "Growth in Europe is stalled. Growth in America has stalled. The effects of the Japanese earthquake, high oil and food prices have created a drag on growth. We're not quite staring down the barrel, but the pattern is clear".
Xekinhma, Greek section of CWI, on massive general strike in Greece on 15 June 2011, photo Stephan Kimmerle
28 September 2011
As debt crisis deepens... Greek workers and youth in revolt
Greece has recently experienced a barrage of strikes by different sections of the working class - involving transport workers, teachers, some council workers, taxi drivers, mental health workers and others - against the Pasok government's latest austerity measures...
On the National Shop Stewards Network lobby of TUC congress, 11 September 2011, photo Sujeeth
21 September 2011
We won't pay for the bankers' crisis!
Strike back on 30 November: Once again recklessness is bringing the banks into even further disrepute. UBS bank has 'lost' $2.3 billion due to the antics of 'unauthorised' trader Kweku Adoboli, writes Tony Mulhearn, Liverpool Socialist Party.
14 September 2011
Austerity policies strangle growth
Pawn shops are booming, pound stores are multiplying. But spending on services and retail (apart from food) has slowed to a standstill. Socialism Today editor Lynn Walsh looks at the effects of Con-Dem cuts on the UK economy.
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