IMF warns of global debt catastrophe The world’s poorest countries are going through a vicious cycle of spiralling debt. The coronavirus epidemic has added a further heavy burden to their state coffers. These mainly raw material producing countries were already struggling to deal with the collapse in raw material prices, and this latest crisis makes the situation completely untenable, which has major implications for the advanced capitalist countries as well.
The FinCEN leaks and the corruption of capitalism A huge cache of documents has revealed the criminality and corruption at the heart of capitalism’s biggest financial institutions. We cannot trust the ‘regulators’. To root out these evils, we need nationalisation and workers’ control.
Oxfam reveals how bloodsucking billionaires have profited from the pandemic An in-depth report published by Oxfam on 9 September entitled Power, Profits and the Pandemic shows how the capitalist class has lined its pockets throughout the COVID-19 pandemic.
