Today ULU Marxists received a letter from a student at New York University (NYU),
Cecilia Gingerich, who was a member of the University of London Marxist
Society while studying in London in the spring of 2010. She is now a
participant in Occupy Wall Street and in her letter gives a first hand
account of her experience of the movement from the beginning, her
narrowly escaping the mass arrest of the 700 protestors on October 1st
and the impact that had on the movement in the following days. Now the
unions have joined the protestors on Wall Street, along with walk-outs
from high schools and colleges, which Cecilia has participated with
students from her own university.

The
financial crisis in Greece is constantly in the headlines and focusing
everyone’ attention on what it could lead to. As we have explained
before, the reason for this is not due to the objective economic weight
of the Greek economy within European and world capitalism. In absolute
terms Greece only accounts for 2% of the European Union’s GDP and even
its public debt is only 3% of the total public debt of the Eurozone. The
point is, however, that Greece is the weakest link in European
capitalism which is now at the centre of the global capitalist crisis.

Last week Wall Street was rocked by a mass demonstration of over 15,000 people
protesting against “corporate greed.” The crowd jammed the square and
stretched for blocks along Broadway. This unprecedented protest was a
manifestation of the mood of anger, bitterness and frustration that has
been accumulating for years in American society, which had already
previously erupted in the big demonstrations and walkouts in Madison,
Wisconsin, culminating in the occupation of the Capitol.