16 July 2008
"The worst is over in the financial crisis or will be very soon." This is what Alan Greenspan, former head of the US central bank, said back in May.
15 April 2008
For the past few years the chief role of the International Monetary Fund (IMF) has been to act as praise-singer for global capitalism. Its traditional job of bullying governments into implementing policies of economic austerity had become harder to perform.
01 April 2008
The growing economic crisis in the US is causing even the most fervent supporters of capitalism to have their doubts in the neoliberal ideology they have used to justify the system for the past 30 years.
25 March 2008
The Wall Street Crash of 29 October 1929 has entered the popular imagination as the key example of a crisis in the financial system.
18 March 2008
Financial markets across the world plummeted early this week as traders reacted with panic to the news of the collapse of Bear Stearns, one of the US’s oldest and most prestigious investment banks.
18 March 2008
How big a mess is capitalism in? In February when New York economist Nouriel Roubini suggested $1,000-2,000 billion in losses in the financial sector alone, mainstream commentators thought he was mad.
13 March 2008
New Labour Chancellor Alistair Darling’s first budget has been generally described as dull. The reality for working people is more of the same. But while the repetition of all that has gone before – tax cuts for the rich and attacks on the poor – may be familiar, it is still deeply unpleasant.
19 February 2008
Gordon Brown and Alistair Darling’s decision to nationalise the struggling Northern Rock bank last weekend ensures the government’s humiliation over the issue is almost complete.
24 February 2001
New Labour wants us to save money. It wants us to save for our children's university education (for the 30 percent who go into higher education) and save for our retirement. Last week the government promised a new children's saving scheme where the state would top up money put in by parents. It was suggested the fund could be used later in life to "tide workers over periods of unemployment in an uncertain world".