With total student debts in the U.K reaching a staggering
£18 billion, the threat to our education by privatisation has never been greater. The result has been that the responsibility for higher
education has been handed down, like a cursed heirloom, from government to
university, to family, the buck finally stopping at the student. This means
that students going to university today will pay three times as much as they
would have done a decade ago. 

Socialist Appeal 156 is out now!

The bourgeois economists are incapable of understanding
crises, which are an inescapable result of capitalism. They look for subjective
factors such as "confidence", even "human nature". In reality what we are
witnessing are the real workings of the capitalist system in a period of
decline.

The recent chaos on world stock markets is a
manifestation of the general turbulence that is the most prominent feature of
the present epoch. The crisis that affected the Northern Rock bank in Britain
is but an indication of dramatic
events that are being prepared globally.

We are making available to our readers an appeal by the Labour
Representation Committee on the issue of internal party democracy. On Sunday
Labour Party conference kicks off. If Brown’s proposals are accepted it appears
that from next year CLPs and affiliates will no longer have the right to take
resolutions to Party conference.

The all-new revamped website of the Wellred Online
Bookshop is now fully operational at
www.wellred.marxist.com – nearly all of the books and
pamphlets we had on the old site have been transported to
the new one and they have been joined by a number of
new additions.

Over the past 15 years production has risen at
about 3% a year in the OECD countries, while money supply, mortgage and company
debt, personal borrowing and the massive so-called derivatives market based on
this credit has increased at over 25% a year! Result? A huge bubble which is
now bursting, starting with Northern Rock.