By Fred Goldstein, March 4, 2015
For five years the European Central Bank, dominated by German finance capital, has engineered bailouts and imposed austerity on Greece, Spain, Portugal, Ireland and Italy. And for five years various establishment economists, politicians and pundits in the U.S. like Paul Krugman and James Galbraith have been frustrated and perplexed.
Their complaint? Capitalist Europe is in an economic crisis. Austerity will make the crisis worse. Why don’t the German bankers and the ECB listen to reason? Why pursue such a destructive policy, which harms the economy and causes untold mass suffering?
By Fred Goldstein on March 28, 2014
Five years into the capitalist recovery, the crisis of mass, long-term unemployment will not go away.
The Labor Department defines long-term unemployment as being 27 weeks or longer without a job. The official number of long-term unemployed in February was 3.8 million workers. (Los Angeles Times, March 20)
By Fred Goldstein
December 17, 2012
The passage of the union-busting so-called “right-to-work” law in Michigan is a severe legal setback for the labor movement and for the workers, the oppressed and all the progressive masses in the state. If not turned around, it will encourage right-wing, anti-labor forces across the country.
It must be emphasized at the outset that so far this is purely a legislative setback. It has not been implemented. The working class has not been defeated in the class struggle but rather the labor leadership was politically outmaneuvered by a cabal of right-wing billionaires and their political puppets in the legislature and the governor’s mansion. These forces conspired to put this reactionary legislation on the fast track without even giving the legally required time and processes for the masses to mobilize against it.
By Fred Goldstein March 9, 2015
Several judicial rulings in recent weeks demonstrate the determination of the capitalist government to shield the front-line forces of the repressive, racist state — especially cops and prison guards — from individual punishment.
While city police departments and prisons can be investigated and sometimes penalized, the shooters and the beaters have virtual immunity from individual punishment for their crimes. The ruling class relies upon them and their willingness to directly inflict brutality upon the workers and the oppressed to enforce the racist, capitalist order.
By Fred Goldstein
Feb. 24 — The leftist Syriza government in Greece has accepted a negotiated retreat from its election promises after a faceoff with the European bankers, led by German finance capital. This ends the latest phase of the struggle of the Greek people against austerity. But this struggle, while it may be paused, must not be allowed to die.
What has ended is the idea of getting out of debt slavery to the predatory bankers of Europe through negotiations, without breaking with the euro currency zone altogether.