STWR - Share The World's Resources

The world economic crisis is at an early stage, manifesting itself primarily in the area of finance, but it will spread from the US to the "new industrial countries" and the global contraction in production will lead to stagflation.

The regime of monopoly-finance capital benefits a tiny group of oligopolists who rely heavily on speculation - a deep-seated contradiction intrinsic to the development of capitalism itself.

There is a crisis in free market ideology - but the movement towards state intervention won't last

Neo-liberalism is slowly fading away - that is, if we define neo-liberalism as an ideology that steadily wants to reduce and belittle the role of government and promote ever freer markets. 

Skyrocketing oil prices, a falling dollar, and collapsing financial markets are the key ingredients in an economic brew that could end up in more than just an ordinary recession. 

Watching the corporate media report the ‘financial crisis’ is instructive. From the perspective of power, it is important that a steadying hand is applied to the tiller of news and commentary on the crisis, and the global economy itself.

On 9 August 2007, globalisation's rickety financial levees were broken by a storm-surge of debt, invisible to most punters, but scary enough to frighten bankers.