Housing crisis intensifies internationally: expropriate the speculators! The crisis of capitalism has many expressions: new wars and inter-imperialist conflicts, environmental destruction, the growing chasm between rich and poor, the decline of science and culture, etc. One especially conspicuous symptom of capitalism's failure is its inability to provide the basic human need for adequate housing, even in the wealthiest countries.
Another global recession is coming This article, which was published in June 2023, has been confirmed in all essentials by events. Since it was written, world debt has broken new records, the American and Chinese economies have continued to slow down, and European industry has been devastated.
The global crisis of 1973-75: a turning point for capitalism 50 years ago, after the long postwar boom, the world economy experienced its first truly global crisis. Falling output and spiralling inflation combined to devastate the working class. Today, capitalism faces similar turmoil. It must be overthrown.
