Covid-19
What is a recession?
President Trump said on March 16 that a recession is likely, maybe the only factually correct statement he made that day. But what is a recession? Wikipedia says a recession is a business cycle contraction […]
Author: Gary Wilson
Capitalism and Marxism
CYCLICAL CAPITALIST CRISES: Behind the stock market turmoil
March 5 — The Dow index just fell 12 percent in one week, the worst week for stocks since the 2008 financial crisis. Many wonder if this could become a full-on stock market crash. Among […]
Capitalism and Marxism
Consumer debt soars to $14 trillion. So, cancel the debt!
Consumer borrowing in the U.S. rose to a new record level at $14.15 trillion, the Federal Reserve Bank of New York said on Feb. 11. Everything rose: mortgages, student loans, auto loans, credit card debt. […]
China
The U.S. road to war on China
The imperialist media reports all read the same, like they were written on the same computer. The Dec. 4 CNN report began: “The U.S. House of Representatives passed a bill Dec. 3 demanding a tougher […]
Capitalism and Marxism
What does Wall Street’s repo crisis mean?
In the week of Sept. 16, the U.S. financial system ran out of cash. It was a modern version of a bank run, and it’s not over yet. That week, the rate of interest on […]
Venezuela
Who is responsible for the economic crisis in Venezuela?
The Trump administration has imposed a full-scale economic blockade against Venezuela. The assets of the state oil company held abroad, including Citgo, its U.S. branch, have been seized and handed over to the puppet Guaidó […]
Capitalism and Marxism
Stock market decline worst since 1930s. Where is this going?
The Wall Street stock market closed December 21 with its worst weekly drop in more than seven years. The fall continued on December 24, losing more than 650 points. The S&P 500 ended a brutal […]