The situation has gone from bad to worse for the world’s financial markets. After three bank collapses in the U.S. and one in Switzerland, the markets are looking for the next weak link.

This morning, banking shares fell rapidly – not only in the US and not just regional banks, but all over the world – in the aftermath of the collapse of US regional banks, SVB Financial and Signature over the weekend. What caused their collapse and are there wider implications?

Over the past year there has been a torrent of attempts by the bourgeois media to push the blame for inflation onto the working class. The latest claim is that petty shoplifting is driving up inflation. This is nothing more than a thinly veiled attack on the poor that only serves to highlight the much deeper crisis of capitalism.

The global elites gathered in Davos last week, to discuss the fate and future of capitalism. With the world economy wracked by inflation and instability, a mood of pessimism prevailed. We need a revolution to put them out of their misery.

In May 2022, the CEO of BlackRock declared that “the Russian invasion of Ukraine has put an end to the globalization we have experienced over the last three decades”. He undoubtedly has a point. The war in Ukraine has brought to a head the conflicts that have been brewing between the major powers for some time.

A new report finds that Canada’s CEOs made record fortunes in 2021 while low pay and rising costs forced more workers to depend on food banks. According to a new report from the Canadian Centre for Policy Alternatives (CCPA), Canada’s top 100 CEOs saw their pay rise to “an all-time high.” All told, the ratio […]

After decades of low inflation and rock-bottom interest rates, economies throughout the world are now facing a spectre unseen since the 1970s: rising inflation levels combined with the beginnings of another recession. It is clear that we have entered a new chapter in the crisis of world capitalism, which the strategists of capital themselves are at a […]

After bailing out the capitalist system in 2020, we are now faced with record-high inflation. In response, the Bank of Canada (BOC) is pursuing policies to make us all poorer by raising interest rates and provoking a recession. But this so-called cure may be worse than the disease. 

Mass firings are occurring across the tech industry, including at online behemoths such as Twitter and Facebook, portending trouble for investors, users, and employees. It is time to take Big Tech under public ownership and workers’ control.

The past few months have seen central banks scrambling to raise interest rates to control inflation. Yesterday, the Federal Reserve introduced another 0.75 percentage point hike, and the Bank of England will follow suit today. This spate of rate hikes caused mortgage rates to multiply, government borrowing rates to spiral, and now a recession looms. […]