|
A blog of all section with no images
|
Latest International NewsNew Book - 'Reformism or Revolution' - now available
Latest British NewsLatest Trade Union NewsMarxist International Review
Wellred featured books
Send us reports!Send us your letters, articles or workplace and trade union reports! Please get in touch and wherever possible we will publish submitted articles on our website or in our monthly paper Socialist Appeal. |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
How do you lose £3.7 billion? Down the back of the sofa? Meet Jerome Kerviel. He lost £3.7 billion of
his employer’s money, Societe Generale, a French
bank. Is it actually a good argument for
capitalism that the whole world can be screwed up because of a solitary rogue
trader? Is the system really so precarious that one crook can send world
financial markets into freefall?
With a world recession looming, slides in the stock market
and capitalism generally entering a period of crisis you would expect the first
day of the World Economics Forum to be the site of a serious discussion and
plans for the future; not so.
For years Socialist Appeal
and the International Marxist Tendency have been arguing that the world is an
increasingly unstable place, where war threatens on many fronts
and revolution and counter-revolution hang in the air. The bourgeois and the Labour
right wing basically argue that it’s all down to evil people and that nice
President Bush and the generals keep us all safe by attacking terrr’sts and
keeping the world safe for freedom and ‘mockracy.
"The London police on strike. After that,
anything can happen", said Sylvia Pankhurst in 1918. The ground is certainly shifting in Britain. There has
been a continual build up of public anger at the government's attempt to impose
a 2% limit on public sector pay. The Police are getting a paltry 1.9% rise, in effect a pay cut.
They were furious and making all kinds of threats against the Home Secretary
Jacqui Smith and Gordon Brown.
