![]() ![]() Not surprisingly, ruling class circles are panicked about an impending collapse.Īnd for working-class people around the world, already suffering through the weakest economic expansion since the Second World War, the implications are ominous. Just before Labor Day, Argentina defaulted on $100 billion of its debts, a harbinger of turmoil in world financial markets. Meanwhile, “emerging economies” like Mexico, Turkey, and Argentina have already plunged into deep slumps. In the United States, corporate profits - always the key to growth in a capitalist economy - are sliding. ![]() Manufacturing industries in China, the United States, Japan, Germany, and Britain are in recession. World trade is contracting - down more than 3 percent since last October. The global economy is skidding to a jarring halt at the moment. ![]()
0 Comments
Leave a Reply. |