The crisis deepens in Europe, Japan and the United States Everywhere you look there is upheaval and crisis, from Europe to Japan and to the United States. This reflects the worldwide malaise of capitalism that is struggling to emerge from the recent slump. This is a confirmation of Marxist ideas, which explains that capitalism is a crisis-ridden system.
Capitalism not so popular... especially in the United States A recent edition of The Economist (April 7, 2011) complained about “Capitalism’s waning popularity”. One does not have to be a genius to understand that thirty years or more of cuts in welfare, large scale privatizations and constant pressure on workers in the workplace was sooner or later going to end up with ordinary working people questioning the system that is responsible for these policies, i.e. capitalism.
QE2 – another leap into the dark Yesterday, the US federal reserve announced another round of so called “quantitative easing”, or “printing money” as most people know it. Another $600bn are to be injected into the US economy in order to stave off a double dip recession and to lower unemployment. The US ruling class are worried and are continuing their extraordinary measures, which will further intensify the contradictions in the world economy.
