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textOur normality is not returning by Adam Tooze
Enormous and immediate compensation measures have so far prevented an immediate global financial collapse. But now we are facing a protracted period where falling consumption and declining investment will lead to further contraction. 73 percent of American households report having suffered a loss of income in March. For many, this loss is catastrophic....
Posted: Tue May 26, 2020 3:20AM
textCorona and the collapse of modernization by Roswitha Scholz and Herbert Bottcher
Corona is the trigger but not the cause of the worsening crisis situation. It will accelerate the disintegration of capitalism. Pragmatism and cooperation on an international scale are called for. Sometimes the state protects life and sometimes relaxes it in the interest of the functioning of the economy. Infrastructure socialism takes health care from the market....
Posted: Fri May 22, 2020 3:40AM
textThe Forgotten History of the Financial Crisis by Adam Tooze
In the United States between late 2008 and early 2009, 800,000 people were losing their jobs every month. By 2015, over nine million American families would lose their homes to foreclosure—the largest forced population movement in the United States since the Dust Bowl....
Posted: Wed May 20, 2020 3:44AM
textWave of layoffs in the US election campaign by Joachim Bischoff and Frank Adloff
The corona pandemic triggered the most massive job losses in the USA since the Great Depression in the 1930s. Unemployment rose to its highest level in more than 70 years. In April alone, 20.5 million jobs outside agriculture were cut, according to the government administration....
Posted: Mon May 18, 2020 6:33AM
textReal Unemployment is 35.7%; The Internationale by Workingclass Is The Essential Class
The real unemployment rate for April 2020 as of May 8, 2020 is 35.7% Peak unemployment during the 1930s Great Depression was 24.9%. April job losses were 20.5 million, preceded by March’s job losses of 30 million. California’s unemployment claims were 4 million in the past 7 weeks. San Francisco’s unemployed to date are 17,500. The economic crisis preceded the pandemic which is accelerating the economic crisis of the capitalist profit motive. Only a serious labor movement capable of carry...
Posted: Fri May 8, 2020 12:01PM
textMay Day 2020: Every End is a New Beginning by Working Class is The Essential Class
We celebrate May First, May Day, around the world as International Workers Day, which began in this country in the struggle for the 8 hour day in the late 19th Century....
Posted: Fri May 1, 2020 11:20AM
textPandemic in Poor Country by Michelle Ann Stanton
How the COVID-19 Pandemic is Affecting Small Businesses in the Restaurant Industry in Lake County, California...
Posted: Wed Apr 29, 2020 8:51PM
textHashtag#General Strike by Lukas Hermsneier and Susan Boos
How do you prepare for the time when the affluent society crumbles? French intellectuals have even declared a new science - "collapsology." Solidarity is the humane and enlightened answer, not the assault rifle. Rep. Omar proposes a rent and mortgage moratorium until the pandemic fades. Landlords can find other ways to make money than rents and evictions....
Posted: Wed Apr 29, 2020 4:57AM
textMay Day! May Day! by Michael Steinberg
Is May Day going to be cancelled too!...
Posted: Tue Apr 28, 2020 10:16PM
textEconomic Crisis Could Get Much Worse Says IMF by Kate Zeller
The International Monetary and Financial Committee, the leadership of the IMF, released their Spring Meetings communiqué calling coronavirus economic impacts, "unprecedented" and that "the global economic outlook is subject to high uncertainty."...
Posted: Fri Apr 17, 2020 11:22AM
textIMF Calls "Great Lockdown" Worst Economic Crisis Since the Great Depression by Kate Zeller
The IMF says we face the worst economic crisis since the Great Depression because of the coronavirus....
Posted: Tue Apr 14, 2020 12:55PM
textHistory of an eventful myth: the 8-hour day by Elias Felten and Thomas Ritt
Since industrialization, it has been the norm for wage-earners of all ages, including children, to work 15 to 16 hours a day. There was no time for rest. An impoverishment of the working class was the result....
Posted: Sat Apr 11, 2020 4:14AM
text"We do not live in capitalism" by Wolfgang Belitz and Yves Wegelin
After the transition to Atlantic turbo-capitgalism, almost nothing can be recognized from the earlier times of the initiatives of the social market economy. In this situation, the counter-factual and fact-immune creed of all conservatives is enmeshed in a deep unconsciousness about the world. We live in a plutocracy where the richest 62 have as much wealth as the poorer half....
Posted: Sun Apr 5, 2020 3:23PM
textOn the Power of Money - Three by Eugen Drewermann by Eugen Drewermann and Iring Fetscher
Only faith (as in a religion), the "invisible hand," the "law" of the "free" market can judge everything. State interventions can only be annoying. The market itself is allegedly "social". Everyone acts acording to his advantage. The system is not social but lives from the creation of permanent and growing injustice. "Needs" can be produced completely irrationally....
Posted: Thu Apr 2, 2020 6:56AM
textThe economy in the times of the coronavirus by R Hickel, Ingar Solty & Daniel Stelter
Most people’s thinking is determined by the development of the Covid-19 crisis, the return of “the hour of executive power” (Gerhard A. Ritter), i.e. state of exception legislation, and the fears which it evokes as well as the economic measures which appear to be in response to the health crisis....
Posted: Tue Mar 31, 2020 2:21PM
textCalifornia Nurses Association protest in Oakland against lack of protective gear by Lynda Carson
Last Friday, I watched around 4 first responders from a fire truck in Oakland respond to the needs of someone that was hauled off to the hospital. I was shocked that the first responders were not wearing any protective gear or N95 respirators. Barely three days later, nurses from the California Nurses Association and National Nurses United held a protest Monday evening March 23, in front of Kaiser Permanente in Oakland. They protested against the lack of protective gear and weakening of stand...
Posted: Tue Mar 24, 2020 3:00AM
textAlternatives to Profit Maximization and The Fragility of Power by Peter Ulrich and Julia Lis
We must look for the "signs of the times" that point to the coming of the Kingdom of God or, as John Holloway puts it, the signs "of the presence of the material power of the cry." The world of struggle against the instrumental power that oppresses and exploits people often seems invisible...New struggles are constantly breaking out....
Posted: Sun Mar 22, 2020 1:43PM
textChina uses forced labor in factories making American products by Lynda Carson
Forced labor in factories that make products for American companies, including some of the companies listed further below such as GAP Inc., headquartered in San Francisco, Apple which is headquartered in nearby Cupertino, Cisco Systems which is headquartered in San Jose, or Google which is headquartered in Mountain View!...
Posted: Thu Mar 5, 2020 9:43PM
textUnions work to defeat UC-Santa Cruz grad student strike by Jonathan Burleigh (WSWS Repost)
February 27, 2020 - For striking graduate students at the University of California (UC), Santa Cruz (UCSC), today marks “Doomsday 2.0,” the administration’s new deadline to submit withheld Fall 2019 grades....
Posted: Thu Feb 27, 2020 1:26PM
textUC Santa Cruz graduate students defy administration ultimatum, vote to continue strike by WSWS Repost
February 22, 2020 - The International Youth and Students for Social Equality (IYSSE), the youth movement of the Socialist Equality Party, is holding an emergency online meeting this Sunday, February 23, at 4pm Pacific Time to discuss an international socialist strategy for the UC strike. Visit https://iysse.com/UCstrike/ for further details....
Posted: Sat Feb 22, 2020 6:24PM