Socialist Worker

Economic crisis


We will need sterling resistance to stop the bosses’ sabotage

We will need sterling resistance to stop the bosses’ sabotage It’s not a paranoid fantasy to argue that parts of the establishment want to derail the left wing Labour leadership’s plans.

Fat cats rake it in—make them pay out

Fat cats rake it in—make them pay out Some newspapers last week reported that Britain’s top bosses have suffered a 17 percent pay cut. The real news is that the gap between bosses’ and workers’ wages is growing.

It’s the rich who have a ‘magic money tree’—and it needs shaking

It’s the rich who have a ‘magic money tree’—and it needs shaking  The Tories grow endless cash for the bankers, bosses and their super wealthy friends

Banks lied over rates swindle

Banks lied over rates swindle Top bankers lied about their lending rates before the 2008 crash—and the plot went right up to the Bank of England.

Obama must take his share of blame

Obama must take his share of blame Barack Obama departs the US presidency amid a cloud of praise and nostalgia.

Crisis gives more cream to fat cat billionaires

Crisis gives more cream to fat cat billionaires For all their whining about Brexit, the rich have got richer, says Tomáš Tengely-Evans

Deutsche Bank— the profit unarmed

04 October 2016
Deutsche Bank has symbolised German capitalism ever since its foundation in 1870, on the eve of Germany’s unification.

G20 rulers can’t fix their failing system

07 September 2016
The G20 summit this week is a good test of the mood among the ruling classes of the world. It brings together leaders and central bankers from 20 major economies that collectively account for 85 percent of global production and 80 percent of world trade.

Bosses will use Brexit as excuse for more austerity and cuts - if we let them

28 June 2016
The global rich claim that last week’s vote to leave the European Union (EU) will cause economic catastrophe.

Are robots taking all our jobs?

17 May 2016
As robots begin to do more of the jobs traditionally done by people, Tomáš Tengely-Evans asks if the relationship between worker and machine has fundamentally changed

Private matters: How capitalism hides its filthy hoard

12 April 2016
There is an exclusive luxury ocean liner with tens of thousands of cabins. The “Panama papers” leak provides a porthole into just one of those cabins.

Osborne's budget means cuts for the poor and handouts for the rich

18 March 2016
Cuts to taxes on corporate profits are being paid for by taking money from ordinary people

Turmoil shows up problems for the 'recovery'

26 January 2016
Since the start of the year the stock markets have been going crazy. At one point global share prices were 20 percent below the high they reached last year. Some £2.8 trillion was wiped off shares.

Are we heading for another world economic slump?

15 January 2016
Across the world stock markets and commodity prices are tumbling. Those in the ruling class who gloated about “recovery” last year now warn that the global economy could crash again. Some blame it on oil prices, others on China’s slump – Socialist Worker sorts the fact from the fantasy

British economy on the slide: “Sell everything” says bank

13 January 2016
British manufacturing is in recession, undermining chancellor George Osborne’s forecasts of steady economic growth.

Capitalism is teetering on the edge of crisis

05 January 2016
The New Year began with a new shock to global stock markets. For the first time ever, all of China’s main stock exchanges had to use emergency measures to halt trading after shares plummeted on Monday of this week.

What’s so bad about ‘deficit denial’ anyway?

20 October 2015
George Osborne and John McDonnell have different strategies for eliminating the deficit. But Nick Clark argues for a bolder approach

The 'China dream' is rapidly falling apart

08 September 2015
It's been a dramatic summer—Greece, the European refugee crisis, Jeremy Corbyn. But the big story for the world economy has been the collapse of the Chinese stock market. Since peaking in June, falling share prices have wiped £3 trillion off its value.

Made in China—how a debt crisis spread

01 September 2015
China’s rulers’ attempts to maintain growth have created a mountain of debt and empty buildings

We need to get rid of their bankrupt system

25 August 2015
The panic that spread through financial markets at the start of this week exposed the volatility of the system (see page 3).  For all the talk of “recovery” capitalism is fragile.

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