Doctor Doom predicts “dark days” for capitalism Nouriel Roubini is an interesting and unorthodox bourgeois economist. His main claim to fame is that he correctly predicted the 2008 financial crisis, a feat that did not endear him to most other economists, who predicted absolutely nothing.
Raising interest rates: a recipe for world recession The past few months have seen central banks scrambling to raise interest rates to control inflation. Yesterday, the Federal Reserve introduced another 0.75 percentage point hike, and the Bank of England will follow suit today. This spate of rate hikes caused mortgage rates to multiply, government borrowing rates to spiral, and now a recession looms. This will be painful for ordinary people, but will the ruling class achieve its aims?
Hawks, hikes, and hard-landings: new chapter in the crisis of capitalism With inflation spiralling out of control, central banks are hiking interest rates, provoking recession. The ruling class is increasingly split, as the crisis of capitalism deepens. Only socialist revolution can provide a way out of this impasse.
