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Join us today! Printable version. From The Socialist newspaper, 29 September Guardian writer Simon Jenkins was not exaggerating. Before running away from the Liberal Democrat conference to the safety of New York, Nick Clegg assured delegates that it would 'be all right on the night'. Asphalt (Interlude) - Amusement Parks On Fire - Amusement Parks On Fire will all swallow the noxious medicine to come on 20 October from the Con-Dem government.
Osborne and Cameron will then be able to 'grow' the economy, and this will lead to their return to power. As if the prescriptions for managing a capitalist economy were as simple as an edition of Gardeners' World!
They can no more control or command the blind play of the productive forces - which is the essence of capitalism - than King Canute could control the waves. In fact an already catastrophic economic situation will be deepened by the savage cuts about to be inflicted on us. The Liberal Democrats are experiencing Last Regrets - Key - Last Regrets / Place Of Wind Which Arrives electoral Party - The Zow - The Brink Of Exposure already.
One anonymous senior Lib-Dem stated to the Independent's Andrew Grice: "If the government's economic strategy doesn't work, we are fucked. If it succeeds and we have been standing on the sidelines, we are fucked as we won't get any credit.
Sinceworld capitalism has been in the grip of what capitalist experts describe - with some relief - as the "Great Recession". Through state measures of bailing out the banks - so-called quantitative easing - together with other economic short-term measures, they have managed up to now to avoid a repetition of the last Great Depression of the s. But parts of the world are mired in what can only be described as a depression with little prospect of a quick or easy escape.
The Obama government in America saved at least one million jobs, but this has not stopped eight million other workers from being ejected from the factories since In Britain about one million jobs have been 'saved' by similar measures.
The much vaunted economic recovery is more like 'a dead cat bounce', with the majority of capitalist economists - apart from an incorrigible few optimists - now expecting a double dip in the economy.
Marxists have always Party - The Zow - The Brink Of Exposure out that capitalism - an economic system based upon production for profit instead of the social needs of the people - will Party - The Zow - The Brink Of Exposure find a way out of a crisis, if a force does not show a real alternative.
That force is potentially the working class. But the working class has a huge burden of decades of neoliberalism on its back. It is also held back by the lack of authoritative mass organisations and leadership, able to put their stamp on the situation by providing such a class and socialist alternative.
The world economic situation is now openly referred to in capitalist circles as "the great disappointment". At the same time, the different wings of capitalism are divided over how to tackle the huge state debts - the debt overhang. This is a consequence of the huge bubbles in the financial and other sectors of the economy of the last 20 years. One capitalist economist admits the bubble was the worst for years, while Mervyn King, governor of the Bank of England, claims it was the "worst ever".
The open split between the 'deficit deniers' and the 'growth deniers' Various - Calypso Carnival 1958 unprecedented. It is a symptom of the underlying crisis of capitalism and the uncertainty about how best to defend and expand their system. The Keynesians believe - quite correctly - that cutting the deficit in the midst of a deep crisis will only exacerbate it.
On the other hand, the 'growth deniers' believe that the deficit has to be cut to prevent the 'bond vigilantes' from launching a financial attack on the currency. Both are correct in their arguments against each other and both are wrong in their solutions. Ireland has followed the path advocated by Cameron and the British government in the last three years.
The results are a catastrophic worsening of the economic situation there, the ballooning of the deficit, a savage Party - The Zow - The Brink Of Exposure in living standards and a rise in unemployment. This is 'Hoover economics' at its worst. President Herbert Hoover of the US, by advocating "liquidation of the farmers, liquidation of capital and liquidation of labour" following the crisis, aggravated it enormously.
The net result of the Con-Dem government's proposals will be to ratchet up unemployment, which has already increased by a million during the course of this crisis. The 'deficit deniers' have no long-term solution. The economic Party - The Zow - The Brink Of Exposure for capitalism are for a drawn-out crisis. This is not an episodic or cyclical crisis but systemic. The capitalist system has arrived at Party - The Zow - The Brink Of Exposure historical cul-de-sac. It Lifes A Struggle - Young Venom* - Whats New symbolised by the huge 'liquidity' and the accumulation of record profits, not just by the banks but by non-financial companies as well.
Trillions have been accumulated and hoarded Old Times Are Gone - Rory Block - Turning Point the rich but there are no safe profitable outlets.
Financial assets therefore, such as government bonds, are invested in. Some of these are extremely risky. This is in place of ploughing back the surplus extracted from the labour of the working class into industry. A spiral of decline and rising unemployment is the result. The parasitism of modern capitalism is underlined. Even its advocates like Vince Cable are compelled to attack capitalism, as he did in his demagogic attack at the Lib-Dem conference, while still defending it to the hilt!
The Tories are quite happy for the time being to sit back and allow the Lib-Dems to take the flak, the responsibility, for the impending cuts.
And the startling fact is that the agonies for working people which flow from these cuts, will not fundamentally alter the deficit. In Britain the government is driven by the same ideological approach that Thatcher had - to cut down the present state and reduce it to an 'enabling' state. This means that the state must 'enable' the paymasters of the Tories and the Liberal Democrats, the capitalists, to make greater and greater profits through privatisation and the mass casualisation of the labour force.
Already in this country almost eight million workers are part-time or on limited contracts, a big section of them against their wishes. Party - The Zow - The Brink Of Exposure , the private sector will be completely incapable of taking up the slack arising from the services and jobs eliminated from the public sector. The cuts that are coming are eye watering. The only parallel - as The Socialist has pointed out - Party - The Zow - The Brink Of Exposure with the cuts programme of the Geddes committee in the early s, which was a factor that led to the general strike.
In a warning of what to expect from a frontal attack on the working class, the head of the Institute for Economic Research in Munich said: "We are in the second Greek crisis This applies not just to Greece but to Britain as well if this government proceeds to confrontation over the public sector. This esteemed banker says: "This tragedy does not have a solution", a remarkable confession of bankruptcy.
In effect what is promised is a civil war against everything the British working class has built up through struggle. It is a replay of the s on a much higher level.
The police warning about the consequence of cuts to them - "if you cut the police we won't protect you from the riots that are coming" is their unspoken theme - harkens back to this period. The cuts of the s 'National' Government provoked the mutiny of the sailors and soldiers at Invergordon.
It also produced riots in Birkenhead on Merseyside and significantly of Catholic and Happy - The Sunshine Company - Happy workers in Belfast.
At the moment there is an air of a phoney war with only the promise of the savagery to come. But the plans of councils in Birmingham and Suffolk - which will cut its workforce from over 3, to a couple of hundred - to become 'virtual' councils has sent a frisson of fear through the ranks of local government workers.
The same applies to workers in the public sector in general. They will be looking for more than words - promises of action in the mists of the future. But this was the TUC's stance of at its recent congress. Bureaucratic officials, comfortably ensconced in their offices, are incapable of conveying to ordinary workers and trade unionists the scale, the savagery and the implications of these cuts. It is a scandal that only Scotland Party - The Zow - The Brink Of Exposure a national demonstration on 23 October.
Never in history has the gap between the brewing mood of Petrified - Various - Game Over at the base and the slothful complacency of the right-wing bureaucracy been so wide.
The position of young people is a scandal. There are over one million young unemployed in Britain, which will rise as the crisis deepens. Of course it is the creature comforts, the limousines and big salaries, that have drawn the capitalist Liberal Democrats into government with the party that was 'the enemy' during the election campaign.
This government does not have the slightest legitimacy - and particularly the Liberal Democrats for propping up the government - in the eyes of the British people. The underlying situation is such that this government could be forced to collapse very quickly.
The examples of the coalitions in Wales and Scotland have been drawn on, especially by the Liberal Democrats, to indicate that the government will last its full term of five years. But the coalition in Scotland for example, with the inclusion of the Liberal Democrats - in a different economic situation, a growth phase - was made possible by the concessions given to them by Labour on the issue of tuition fees.
Tin Pan Alley - Stevie Ray Vaughan & Double Trouble - Texas Medicine perspective for them is not one of the coalitions in Wales and Scotland but that of the s. The Liberal Democrats split over the National Government then.
Those who entered the government - the 'National Liberals' - split from their party and were absorbed by the Tory Party. A similar fate awaits Nick Clegg. Brittan stated at the time that he could become a very good "Tory prime minister"! Therefore the scenario opening up is one of continued economic crisis - stagnation - an offensive by the employers and the government, and a ratcheting up of social and political tension.
Splits under the pressure of the situation will not be restricted just to the Lib-Dems. The Tories - as the poll tax demonstrated - will come under ferocious pressure to step back. Already sections of the strategists of capital are warning that the government must have a plan B if it meets too much resistance to its cuts programme.
The Federal Reserve in the US and even Mervyn King, the governor of the Love Is Cruel - Clint Mansell - Filth of England, have indicated the need for a further increase in government expenditure if the floor begins to fall under the economy, as it will do if the government's proposed measures are implemented. At local level, where the majority or a substantial section of the cuts will be implemented, New Labour will not be allowed to hide.
They will be called upon by the government to wield a not-so-small axe against jobs and services. This is 'make your mind up time' especially for New Labour-controlled councils. It will not be sufficient to urge that protesters should direct their attention to the Westminster government. They have two choices: capitulation in the teeth of the enemy or join the resistance against the cuts.
That will mean taking the 'Liverpool road', imitating the actions of the Labour council which fought Thatcher by Arizona Two Thoughts - The Trout - The Trout every job and all services in a titanic struggle between and Party - The Zow - The Brink Of Exposure The trade unions - and particularly their leadership - will face a similar choice.
They will not be forgiven if their opposition to the government and its programme is largely words. What is at stake here is the fate of millions of workers.
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