‘Greedflation’: as prices rise, bosses make a killing As the rate of inflation continues to cut into the living standards of workers, some businesses are posting record profits. Some have pointed the finger at price gouging and the excess profits of big business as the cause. This phenomenon has been dubbed by trade unions and commentators as ‘greedflation’.
Banking system on the brink The situation has gone from bad to worse for the world’s financial markets. After three bank collapses in the US and one in Switzerland, the markets are looking for the next weak link.
Credit Suisse collapse: the whole system is broken – expropriate the banks! The takeover of Credit Suisse (CS) by UBS exposes the massive instability of the global financial market. It is an expression of the rottenness of the world capitalist system. As always, while the bankers gamble away, the working class has to pay.
