Economy

The world economy is wracked with turbulence, buffeted by a perfect storm of war, pandemic, and protectionism. A toxic combination of inflation and recession looms for capitalism. This is a finished recipe for revolutionary explosions everywhere.

The latest forecasts from the Bank of England for the year ahead are for inflation to surge and the economy to contract: a dangerous double-whammy of ‘stagflation’. Workers must organise and fight back with militant action and socialist policies.

This Easter has seen mayhem at Britain’s airports, as travellers and tourists look to escape the country for a post-lockdown holiday. The blame for this turmoil lies squarely with the bosses, who have profited as passengers and workers suffer.

The latest Tory Budget announcement was little more than a vain attempt to distract from the deepening crisis facing British capitalism. The working class is being bombarded from all sides. Only bold socialist policies can offer a way out.

To avert total collapse during the pandemic, the ruling class threw trillions at the capitalist system. But far from stabilising the situation, this money has fuelled speculation and inflation. And now the chickens are coming home to roost.

Last Saturday saw protests across the country for a day of action against the cost of living crisis that is bearing down on the working class. Demands for reform do not go far enough. We need to fight inflation with socialist policies.

Workers are facing a ‘cost of living catastrophe’ over the coming months, with rapidly rising inflation. Already several unions are balloting for action over pay. What is needed is a coordinated struggle to take power out of the hands of the bosses.

Chaos reigns across the global economy, with bottlenecks and inflation, on one side, and a growing mountain of debts on the other. The ‘new normal’ is one of austerity and instability. Only socialist revolution can end the anarchy of capitalism.

Yesterday’s Budget announcement was full of fanfare. But there will be no real recovery for the working class, who are being squeezed on all sides. British capitalism is heading for the rocks. The labour movement must prepare for battle.

The global economy is in a state of chaos and collapse, with supply chains breaking down as a surge in demand collides with limited production and a rise of protectionism. Capitalism is crisis. The market does not work. We need a revolution.

Across the world, businesses are facing a severe shortfall of workers, leading to a standstill in production and a breakdown in supply chains. The capitalist market means anarchy and crisis. Only socialist planning can offer a way forward.

Across the UK economy, prices are rising and businesses are facing shortages. It is clear that the anarchy of the capitalist market cannot provide society with life’s necessities. The case for socialist planning has never been so clear.