Thursday, 6 September 2012
Desperate times call for desperate measures by capitalists
When there is panic all around you you have no idea what to do what do you do? This is the question facing leading capitalist leaders in Europe today. 5 years into one of if not the biggest economic crisis in history there is still no solution on a capitalist basis to the economic crisis engulfing Europe and many other parts of the world. Europe is affected far more badly than other areas due to the way it was set up with many less wealthy nations trying to compete on the same level economically as the powerhouses of Germany, Holland and Belgium some of the more northern European nations. But it is becoming increasingly clear to even the capitalists now that Spain will need a full scale bail out very soon and short term ideas at stemming the contagion will just not do. As capitalists think they think short term and long term profit as the Euro crisis burns on engulfing further countries in southern Europe the European Central Bank is coming under increasing pressure to start buying up bad sovereign debt of nations like Spain and to start selling off Euro bonds which are seen as safer investments at this time. These ideas of the ECB stepping in have been held off and held off until now as a fear of using these schemes will create further upheaval in Brussels where German capitalism are reluctant to continue to bail out countries as it is having a affect back home with rising anger as its seen as Germany propping up a very sick Euro. So when times get tough and they re set to this autumn with a warm summer in Spain and Greece turning into a red hot autumn with further strikes, occupations, rising unemployment and further attempts to force through austerity against the working and middle class’s in these nations. Of course I haven’t mentioned Italy and not many have in recent weeks Italy is sure to come back on the menu for needing a full scale bailout at some point. But bail out after bail out will only temper the crisis and provide respite for a time this will not ultimately deal with the real fundamental issues undermining the economies deep down. The ECB will see itself having to play a more hands on roll in the coming months and years as it looks to grapple with the economic crisis does it have the power to prevent a full scale break up of the Euro. I’m not sure it does but when things get desperate desperate measures are often used. We may well see various tactics of short term growth being tried to jump started flagging economies. But and crucially this will have little to no affect as this crisis is not just limited to Europe as I said it’s global. Where will you as a country start trading more with China and the US plummeting southwards too. There really will be no where to turn. As the working class is pummelled into the ground by austerity it is essential in the battle of ideas that Marxist ideas are popularised in the working class and middle class only socialist ideas and the over throw of capitalism can do now for workers. Its going to get to situations where workers may be able to win huge concessions out of the ruling class if the situation gets to the point where the ruling class is faced with reform or revolution capitalists will get desperate when their system is at stake the fact that many of them do not even understand their own system works against them. But as Marx says there is no final crisis of capitalism it must be over thrown you cannot reform it out of existence it will always find a way out of a crisis and that I’m afraid may mean the ruin of the working class. Let’s not see that happen the working class over the globe will have op opportunities to com to power in the coming period. We as Marxists must arm the workers with the ideas of genuine socialism to transform society to meet the needs of the many not just the few.