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Forever blowing bubbles

25 October 2013

George Osborne has declared that the UK economy is back on the road to sustainable recovery. Closer analysis shows that the recovery so far is based on rising household debt with policy seemingly geared toward inflating house prices, two of the factors that led to the economic crash in the first place. It is not that the powers-that-be are stupid: capitalism has been experiencing a long-term crisis of profitability for decades, and debt-fuelled growth and asset price bubbles have become essential methods of maintaining any kind of economic vitality. All capitalism can offer at its present stage is stagnation punctuated by the inflating and bursting of bubbles. Predictably, the far-right is thriving in this climate, and will continue to make possibly fateful gains as long as our side refuses to challenge them on what historically was always our ground.

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The Slow Fix

24 April 2013

The decline of the BNP has given UKIP the chance to fill the yawning gap that exists in working class political representation. By way of contrast, the current incarnations of the left are failing, yet again, to make any impression. This is repeating the pattern of recent decades, where the right have consistently out-thought the left in terms of strategy. The ongoing capitalist crisis offers real opportunities for our side, but it also presents great dangers. If the left continues to shirk its responsibility by failing to fully engage with the working class, it leaves the path clear for the continued growth of right-wing nationalism. Read the rest of this entry »

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21st century fascism

31 May 2012

As the Eurozone crisis moves towards some kind of conclusion, the far-right are gaining ground across Europe. Mainstream commentators are noting the parallels with the 1930s, but there is one key difference: then, there was an organised, motivated working class ready to mount resistance. Today, the drift to the right faces no such obstacle.

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Deglobalisation?

21 March 2012

The current Eurozone crisis is only the spearhead of a wider crisis of globalisation. The neo-liberal economic model which has swept the world over the past thirty years has reached, or is reaching, its limits. Senior capitalist spokespeople are talking of the possibility of ‘deglobalisation’, and the need for a ‘rebalancing’ of the global economy. We are in the early stages of a transition to a post-neo-liberal era. What that era will look like is unknown, but there is no guarantee that it will be progressive.  Read the rest of this entry »

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The lumpen rebellion

31 August 2011

What lies behind the riots seen on English streets three weeks ago?
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