Partisan • Patriotic • Internationalist
Visible manifestations of social unrest have decreased considerably during the pandemic as people are unable to meet, organise or travel. This is shown by research conducted by the IMF in Figure 1 comparing major social unrest events with mobility data. Normality may be suspended to a large degree, but the […]
We are in the first moments of an economic crisis more serious than anything experienced in living memory. The World Bank’s “baseline forecast” envisages a “5.2 percent contraction in global GDP in 2020—the deepest global recession in eight decades.”[1] Even that assumes we are living through the most optimistic scenario. […]
When the latest phase of the global crisis of capitalism manifested itself through the financial markets in 2007–09, the “Celtic Tiger” collapsed. The Irish establishment, under direct pressure from the European Union, took responsibility for 42 per cent of the total of European banking debt. We bailed out German, French […]
Global debt is now becoming a major factor in the instability of the system of capitalism. Figures show that in the second quarter of 2018 global debt reached a new record, rising to $260,000 billion. Of this total, 61 per cent—$160 trillion—is private debt of the non-financial sector, while 23 […]
Ireland in 2017 is in a state of confusion. On the one hand the official line tells us that we are out of the recession, that government revenue and expenditure are increasing annually. The level of general government deficit is declining, and government debt in 2016 was 75 per cent […]