Markets routed in global sell-off – “It’s every man for himself!” In the words of Alan Greenspan, “The crisis will mean a return to the ideological struggle between socialism and capitalism. Many of us thought that struggle was over with the collapse of the command economies, but this is not the case.” Reality is indeed coming home with a bang!
The working class must not be left to pay for Wall Street mess What caused this financial crisis? Whilst the collapse of house prices was the straw that broke the camel’s back, this requires that it was already heavily laden with straw. Marxists understand that historical events don’t occur in a vacuum; rather, they are a result of the build up of contradictions within the system.
1929 again? – Socialist Appeal Editorial Statement The Banks are going down like ninepins. The whole financial system has been based on an unstable house of cards of credit. The pyramid had been built up over years of mad speculation. Now it is all unravelling.
