“The workers... battle-cry must be: 'The Permanent Revolution.'” — Marx and Engels, 1850
Thu 16, October 2008 @ 12:17
Some $2tr of global government public money into debt-ridden banks over the last week has eased the credit crunch marginally. Now attention turns to the recession in the major western countries and Japan, says Keith Harvey
Mon 15, September 2008 @ 11:20
The USA's fourth largest investment bank finally gave up the search for some one to inject funds into the failing finance house at the weekend. Keith Harvey assess the implications
Sat 29, March 2008 @ 19:14
But precisely because the write downs have been so dramatic and concentrated they have largely by passed Europe and the “emerging” nations, so while US profits peaked in mid-2006, the European business cycle is still growing strongly;
“The share of profits in GDP in the US and Japan have come off their highs. Europe’s profit share rose to a record level in Q3 2007.”
Sat 29, March 2008 @ 16:10
In contrast during this crisis business investment is rising;
“Overall unfilled orders rose 0.7% in January and the three month rate of increase was a hefty 18.6%. Shipments of civilian aircraft & parts still can't keep pace with orders, therefore backlogs rose 1.4% after a 4.0% surge in December (45.0% y/y). Excluding the transportation sector altogether unfilled orders rose a lesser 0.4% during January and the three month average growth rate was a still firm 9.2% (AR).”
(Source: Haver.com U.S. Factory Inventory Gain Strong, Orders Reverse December Rise March 6, 2008 By Tom Moeller)
Sat 29, March 2008 @ 16:05
According to Peter Taafe of the CWI, “The present world situation is characterised by the worst economic scenario for capitalism since the Great Depression of the 1930s.” (CWI 25 March 2008) Taaffe’s millenarian perspective...writes Bill Jefferies
