SVB collapse shows the fragility of the capitalist economy This morning, banking shares fell rapidly – not only in the US and not just regional banks, but all over the world – in the aftermath of the collapse of US regional banks, SVB Financial and Signature over the weekend. What caused their collapse and are there wider implications?
“Largest increase in global poverty since WW2”: capitalists profit while the rest of us suffer A new report from Oxfam titled ‘Survival of the Richest’, exposes what may be the biggest increase in global poverty and inequality since the Second World War. Such is the extent of the yawning chasm between rich and poor, that Oxfam’s CEO warned in his speech introducing the report that “the entire capitalist system is under threat”.
Healthcare crisis causes global spike in excess mortality: the system is sick! Healthcare systems across the world are facing a deep crisis in the face of austerity, rising healthcare needs and mass staff shortages. This is translating into a massive spike in excess deaths. People are perishing pointlessly under this rotten system. Only a revolutionary overthrow of capitalism can liberate public health from the yoke of capitalism.
