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Showing posts with the label Socialism

August 12, 2020: The day capitalism officially died and replaced by something even worse

globinfo freexchange   It was the 12th of August, 2020. Nine o'clock in the morning, in London, the news came out that the national income of Britain (GDP) had fallen by more than 20% . That had never happened before in the history of capitalism - British GDP falling by 21% or so in one year. It was not anticipated. The markets were expecting a fall of 8,9,10%. No one was expecting a 21% fall. Fifteen or sixteen minutes later, the London stock exchange went up by 3% . There can be no explanation of that along the lines of capitalism.     This is how the Greek economist, Yanis Varoufakis, described essentially the official death of capitalism and its replacement by something even worse. The thing he calls "technofeudalism". While Varoufakis in various discussions struggles to explain why capitalism is already dead, it's rather funny that people still willing to debate on something that's already dead (capitalism) against something that's far from being practi

The main reason corporate Dems want so desperately to beat Trump in this election cycle

globinfo freexchange   As we explained previously, what we see now in the United States with Trump, is a counter-attack by the part of the American capital against the globalist faction. The faction that is primarily consisted by the liberal plutocracy. Therefore, as the capitalist class splits, the capitalists around Trump are now taking with them the most conservative part of the American society, as they need electoral power. They have the money and their own media network. Their first big victory was Trump in the US presidency and this explains why the liberal media attack him so hard and so frequently.   The COVID-19 pandemic added more chaos in the ongoing civil war between capitalists and (as always), the working class is paying the price for the additional mess.   The DNC establishment fought hard, one more time, to get rid of Bernie Sanders in order to impose its own - fully controllable and fully dedicated to the neoliberal status quo - Joe Biden/Kamala Harris duo. O