what the persons who are lost/ousted their jobs due to economic meltdown in EUROPE and THE U.S.A ?
In recent times millions of I T/Software/ITES professionals have lost their jobs due to the economic meltdown around the GLOBE.what they are doing or what they are going to do in THE USA and THE EUROPE.Wether there is any guidelines from the governments or any of N G Os.
Dont wait for help from the State ,this is a task for the Working Class.
Any State intervention is totally inadequate to face the enormity of the problem produced by the over-accumulation of fictitious capital.
The derivatives market expanded from a $100 trillion in 2002 to $516 trillion in BIS’s estimation in 2007 or $585 trillion in other estimations! Comparatively all the real goods and services produced by all economies in the world annually, the global annual gross domestic product is less than $50 trillion, and the US annual GDP of approximately $13 trillion. It becomes crystal clear that no intervention by the State, by a central bank or by all of them in the world put together could ever control the tempest of this ocean of derivatives.
While the State is presented by right wing, liberal or left “experts” as the last resort to save the system, one State after another is queuing in the list of countries in default: Iceland, Hungary, Ukraine, Belarus, Kazakhstan, Romania, Bulgaria, Pakistan, Indonesia, Philippines et al. One State after another address desperate calls to the IMF, again. The IMF already has answered the calls of Hungary and Ukraine, and probably will intervene in other cases. But the ammunition of this institution is very limited, about $250 billion. It cannot play the role of the savior; rather it will exacerbate the social political problems by imposing its well-known draconian conditions to the countries that it “helps”.
The capitalist Nation/State is totally unable to face a globalized crisis, made possible by the capitalist globalization, which, in the last decades, has interconnected the national parts of world economy much deeper than ever before in the imperialist epoch.
Dont wait for help from the State ,this is a task for the Working Class.
Any State intervention is totally inadequate to face the enormity of the problem produced by the over-accumulation of fictitious capital.
The derivatives market expanded from a $100 trillion in 2002 to $516 trillion in BIS’s estimation in 2007 or $585 trillion in other estimations! Comparatively all the real goods and services produced by all economies in the world annually, the global annual gross domestic product is less than $50 trillion, and the US annual GDP of approximately $13 trillion. It becomes crystal clear that no intervention by the State, by a central bank or by all of them in the world put together could ever control the tempest of this ocean of derivatives.
While the State is presented by right wing, liberal or left “experts” as the last resort to save the system, one State after another is queuing in the list of countries in default: Iceland, Hungary, Ukraine, Belarus, Kazakhstan, Romania, Bulgaria, Pakistan, Indonesia, Philippines et al. One State after another address desperate calls to the IMF, again. The IMF already has answered the calls of Hungary and Ukraine, and probably will intervene in other cases. But the ammunition of this institution is very limited, about $250 billion. It cannot play the role of the savior; rather it will exacerbate the social political problems by imposing its well-known draconian conditions to the countries that it “helps”.
The capitalist Nation/State is totally unable to face a globalized crisis, made possible by the capitalist globalization, which, in the last decades, has interconnected the national parts of world economy much deeper than ever before in the imperialist epoch.
References :
I , a happy Bolshevik
2 Aug 09 at 4:32 pm