Today is probably the time to revisit the concepts of World Revolution and formulate an International exit strategy from the crisis. Today, much more than in 1917, it is impossible to talk about a national socialist transformation, isolated from the rest of the world. Any radical break with capitalist policies will send revolutionary ripples across Europe and across the World with unprecedented speed. The rapid spread of the Arab Spring is the sort of model that we will be facing in the coming years.
by Michael Roberts
After the European Central Bank (ECB) announced a battery of new credit easing measures at its council meeting, the European stock markets hit six-year highs, while Wall Street also reached another record. Indeed, the FTSE All-World equity index surpassed its previous high touched in late 2007 when the financial crisis began to unfold. Investors in the stock market (and in property) just love news that interest rates on borrowing are being lowered further and there will be all sorts of new cheap credit facilities to invest with.