It's still getting worse The last time Michael Roberts commented on the state of the US and world economy was in May. The piece was called: "The worst is yet to come". Now things are getting worse for world capitalism. The US economy is in "recession" and there is little doubt that the third quarter figures will confirm the end of the long boom. Michael Roberts updates our analysis of the present economic situation.
The tipping point Our economics correspondent, Michael Roberts, looks at the different attittude of working people and capitalists when faced with tragedy and explains how the terrorist attacks on September 11 are likely to be the tipping point which will plunge the world economy into recession.
The great recession The Organisation for Economic Cooperation and Development (OECD), the body representing the world's richest 30 countries, has predicted that this year economic growth would be as low as 1% and would be only 1.2% next year. At the same time, capitalist economists forecast that global economic growth this year and next would be the worst for 30 years. The great economic recession of the early 21st century is under way.
