10-13-2014: U.S. stock market, and European stock market, in serious falls in the past week and a half. All major stock indices have fallen significantly in past week to two weeks. Theres been sharp sell-offs of stocks in all the major stock markets. The international bourgeoisies of the different capitalistic bourgeois countries have apparently been concerned about all the different economic and political crises in the world right now. But one of their major concerns appears to be the very slow economic growth of the world capitalistic economies of all capitalistic countries. The only country on earth which has not had slow growth is a non-capitalistic country, China, 62% to 75% of whose economy is nationalized - non-capitalist. Chinas economic growths around 7%. This is far, far higher than is the case in any capitalist countrys capitalist economy, including here inside the United States of America. Additionally, the main most powerful European capitalist economy, Germanys, has just suffered major blows to Germanys economy. One has been export earnings, which have apparently dropped significantly. This has led to stock sell-offs among German capitalist bourgeois. The main international factor slowing down capitalist economic growth, however, is precisely that while theres been a very slow growth in some private sector jobs, mainly, its been static and stagnant, with big factors counteracting the basically stagnant jobs growth, including unemployment and under-employment in sectors other than the sectors where theres been some job growth. Additionally, capitalists are not hiring. And also additionally, theres no wages or salaries growth, and that means workers in one sector after another are living on wages and salaries whose purchasing power - buying power - have steadily fallen since the 1970s. Theres simply no real improvement in the dollars buying power or in other capitalist countries currencies buying power, and in fact, since the 1970s, its all been a long-drawn-out-slow-down. Again, the only country on earth with economic growth is the non-capitalist economy of China, 62% to 75% of whose economy is nationalized - owned by the state (the government). Private-for-profit capitalism cannot get it up. That is, private-for-profit capitalism simply cannot make jobs for all, or make jobs at sufficiently high wages for those employed such that the wages of those employed will make sufficient consumption of goods and services by those employed to rev up the economy more, to insure others get employed as well. Karl Marx was right. Capitalisms in serious global decline. It cant make jobs for all. The fact the stock-owning bourgeoisies are now engaged in big stock-sell-offs is merely a symbol of this hard fact of iron-hard bourgeois capitalistic reality. The major 20th Century revolutionary Marxist communist, Leon Trotsky, posed the issue in the 1938 document he wrote, The Death Agony of Capitalism and the Tasks of the 4th International: The Transitional Program. The point he made was that the modern epoch of modern capitalism is the modern epoch of imperialism, what Lenin called, the highest stage of modern capitalism. In this epoch, capitalism literally reaches a dead end globally speaking, and economic growth becomes a thing of the past. Capitalisms only way out becomes global wars for division and redivision of the world into separate markets and spheres of capitalistic bourgeois influence. Only worldwide socialism and world socialist planning can make the basis for the end of nation-state-borders. Nation-state borders today have become an obstacle to global economic growth, with private profit also an obstacle to global economic growth and jobs for all. Trotsky argued that what is necessary is building revolutionary working class parties in every country on earth to make workers governments of elected workers councils in every country on earth. In the capitalist countries, capitalism and the capitalist private-profit system must be abolished and replaced by socialist planned economies administered by workers governments of elected workers councils. In the Stalinist countries, the Stalinist bureaucracies mis-named Communist Parties must be replaced by workers governments of elected workers councils not to do away with the centralized state planned and nationalized economies, but to place them under administration of said workers governments of elected workers councils, with the aim of strengthening them and abolishing the encroachments of private capital where said encroachments have made some progress for capitalism. World socialist planning must emerge out of a worldwide federation of workers socialist-minded governments, federations of said workers governments, because without that, there will be no rational solution to humankinds problems. Capitalisms finished. Its at the end of its rope. --Allan Greene, 10-13-2014
Posted on: Mon, 13 Oct 2014 23:11:10 +0000
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