The latest news, analysis, and Marxist theory from The Communist, alongside reports of RCP activity.
Boris Johnson defends capitalism.
“Go on.
Admit it. You don’t feel altogether sorry for those bankers, do you? When you
read about the collapsing pillars of the temples of mammon, you don’t feel the
tears beginning to prick the corner of your eyes.
“When you
read that the masters and mistresses of the Universe are being expelled from
their glass palaces, ferrying their possessions in cardboard boxes, you can’t
quite find it in you, somehow, to mourn…”
Our
lives, those of our children, our health and living are subjected to the whims
of the gambling table, otherwise known as the ‘world financial system’. In what
way can betting on the prices of stock and shares benefit humankind? Rather, it
inevitably leads, at some stage, to crisis, as the blind bets get called in.
Now,
with the crisis of the capitalist system unfolding, the poverty, hunger and
homelessness experienced by some sections of working class people is spreading
to wider and wider layers. This is initially being expressed in foreclosures on
home loans and an increase in homelessness.
Bradford
& Bingley has finally been put out of its misery. After months of
cliff-hanging the government has been forced to nationalise the bank. In
many respects the ‘rescue’ plan is a clone of the $700bn Paulson plan being
pushed through in the USA. The basic idea is that the good stuff is sold off to
the private sector while the taxpayer is lumbered with the bad debts, the
toxins. Socialism for the rich and the rigours of free enterprise for the rest
of us!
Supporters of the Hands Off Venezuela
Campaign in Edinburgh held a stall at the two day long Societies’ Fair at
Edinburgh University.
The
comrades were hoping to highlight the gains of the Venezuelan revolution and to
draw attention to recent events in Bolivia as well as to restart the lapsed HOV
society at the university.
Last week US Treasury Secretary Henry
Paulson unveiled a dramatic plan to arrest the present financial crisis and
prevent future economic catastrophe. It is to cost $700bn.
It sounds like a breathtaking break from
neo-liberal philosophy. It’s not really. Neo-liberalism was always a giant lie.
Homeless people don’t matter. People in danger of losing their jobs in a
recession don’t matter. But, when it comes to banks and billionaires,
self-reliance is for the birds. These people are hapless bums.
Eleanor Marx was the youngest daughter of Karl Marx. But her place in history isn’t because of her name and who she was related to. Her work, commitment to the cause and self sacrifice earned her that place in her own right.
Day by day the capitalist system is showing
itself for what it is. The impact of the credit crunch and the news of the
collapse of major investment banks in the US is radicalising young people. This
was evident to see at Queen Mary’s Freshers Fair last week, where the Marxist
Society intervened, attracting a fresh layer of young people looking for an
alternative.
“I like
thieves. Some of my best friends are thieves. Why, just last week we had the
president of the bank over for dinner.” W.C. Fields.
The
capitalist system is in the throes of the worse financial crisis since the
Great Depression. This is the view not only of the billionaire George Soros,
but also of the International Monetary Fund, the custodian of the capitalist
system, and all the serious capitalist commentators.
For the second year running the Hands Off Venezuela campaign
and Socialist Appeal made an intervention at the University of Glasgow
Fresher’s Fair. Through the course of the three day fair four supporters of HOV
and Socialist Appeal manned a stall selling various pieces of material
including the Hands Off Venezuela magazine and Socialist Appeal journal.
Hundreds of flyers for the Hands Off Venezuela campaign were distributed and
over fifty names were registered as showing interest in setting up a Hands Off
Venezuela society at the university.
In
response to coup plotting in both Bolivia and Venezuela, the Hands Off
Venezuela Campaign, together with several other Latin American
solidarity organisations, organised a picket outside the US Embassy in
London followed by a highly successful public meeting, where all
speakers and participants condemned the manoeuvres of US imperialism
and pledged themselves to keep up the solidarity activity.
In the first part, Ed dealt with the housing shortage, the renting crisis and the attack on public housing. Here he deals with home ownership and outlines a socialist programme.
In the absence of decent rented accommodation, thousands of people look to
buy in order to get a roof over their heads. But this is a major problem for
people. The Royal Institution of Chartered Surveyors estimates that
affordability for first-time buyers has fallen by 351% over the last 10 years. Equally,
repossessions were up 20% during 2007, which hit an eight-year high.
Living in Britain in the 21st century we should all at least expect to have decent a
decent place to live at an affordable price. Having your own place should not be
down to luck or to a ‘dream’ of owning your own home: it should be your
right. We all should expect that amidst the massive wealth of British
society all people who live here can at least have a decent home – is
this really too much to ask?