How to really take on Wall Street Banks are paying out huge bonuses to the very same speculators who were responsible for the credit crunch in the first place. Banking is to remain a financial wild west. If we want a financial system that works for the interest of the people we need to get rid of the whole capitalist system.
GM’s axe comes down on the workers of Antwerp - Workers in other GM plants must unite and resist the onslaught General Motors has announced that it will cut 8,300 jobs in Europe alone in a bid to reduce its overcapacity. The first plant to go was in Antwerp, Belgium. Workers in other GM plants, and in the whole industry, must now unite and resist in order to defend their jobs and living standards.
Where will the next domino fall? The world of international finance has been shaken by the default in Dubai. Commentators have suggested that this could be the cause of the recession moving into a double dip. Now the Greek government is running a government deficit of 12.7% of GDP, which is more than four times the permitted European maximum. Capitalism stalks one country after another, probing for weaknesses and laying the weakest low. This system is inherently unstable. As long as it exists, it threatens all our livelihoods.
