UNLIKE THE USA, CHINA’S RATE OF PROFIT DID NOT HOLD UP.

The complex rate of return in China has resumed its decline. The CCP now has no choice but to act as capitalists or fail. They have to break the politically sensitive social contract by ratcheting up the degree of exploitation to support the rate of profit. To do this the need to force down wages and with it standards of living.

THE US RATE OF PROFIT HOLDS UP IN Q3, BUT FOR HOW LONG?

GERMAN Q3 ECONOMIC DATA SHOWS CONTINUED WEAKNESS

THE UK AUTUMN STATEMENT 2023. DESPERATE TORIES, UNAFFORDABLE TAX CUTS.

OPENAI, WHY PROFIT AND SAFETY CANNOT CO-HABIT.

OCTOBER ECONOMIC DATA FOR THE USA AND CHINA PLUS THE BIDEN XI SUMMIT ANALYSIS.

GIVE WAR NA CHANCE!

THE FED & THE MARKETS, ARE THEY ON THE SAME PAGE?

IT’S MORE THAN A POLYCRISIS, IT’S A COMPOUNDED CRISIS.

This article was inspired by a talk Michael Roberts gave at the Marx Memorial Library in London recently where he investigated, inter alia, the ‘polycrisis’ confronting capitalism. This article shows the compounding effect of the 4 major crises capitalism has to deal with by focusing on the effect they have on cost-price and therefore the all important rate of profit. I remain convinced capitalism does not have the capacity to weather these simultaneous crises which is why we could be entering a revolutionary period.

WORLD WAR 3 – NOT YET!

Since publishing this post there have been two new developments. The US is deploying two more aircraft carrier groups to the region and the western media have been headlining that Iran can now produce nuclear weapons. This is reminiscent of the headlines prior to the Iraq War when it was claimed that Saddam Hussein had ‘weapons of mass destruction’. Clearly, in order to prevent the Middle East representing a second front in the war with China, the USA may be contemplating not only destroying Hamas and Hezbollah but bombing Iran itself. Should they do so, the internationalization of the conflict cannot be ruled out.

In addition as the revulsion against Zionism spreads, the Zionist narrative describing the events of October 7th continues to unravel. This time it concerns the reckless and panicked firing by Israeli gunships at the site of the festival and the kibbutzim adjacent to Gaza, under instruction to end the incursion as quickly as possible and by all means necessary. The Israeli government, fearful of what is being revealed, is now branding reporters investigating these events or present at the events as “terrorists” in order to silence them.