Capitalism in Crisis: Recession in 2008? (ISO Public Meeting)

A Meeting of the International Socialist Organization


“...[W]orkers who were bypassed by the boom are bracing for recession.

Economists of every political stripe are predicting a slump, the Democratic presidential candidates have all made proposals for an economic stimulus package--and even the Bush White House, long in denial about the housing crisis and its impact, is trying to put together a plan to jump-start the economy. Yet the stimulus proposals from both parties amount to just a fraction of the amount spent on the U.S. wars in Iraq and Afghanistan.

With more bad news emerging on practically every economic front--falling house prices, a credit squeeze, declining consumer spending, stagnant wages and higher inflation--the picture is likely to get worse.

But Wall Street has already signaled Corporate America's plan: Grab all the cash you can, and make workers pay.” - Socialist Worker , January 18, 2008