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The dual explanation of the crisis, the fake social turnaround by governments, the need for radical responses 12 July by
L’Anticapiltaliste weekly .
Marxists often hesitated at the beginning of the present economic crisis: was it a classic, fundamentally capitalist crisis whose warning signs had already been in evidence or was it a specific crisis resulting from the pandemic?
Éric Toussaint: The answer is plain to see: the two explanations are not contradictory. A combination of the two enables us to understand what has been happening right before our eyes. Before the Covid pandemic, in 2019, a classic capitalist crisis had begun. There was a significant reduction in industrial production in Germany and in several industrial sectors of the USA; there was an economic slowdown in China in 2019, the beginning of a financial crisis in the United States in September 2019, a fall-off of productivity in the major economies, and profit
The dual explanation of the crisis, the fake social turnaround by governments, the need for radical responses cadtm.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cadtm.org Daily Mail and Mail on Sunday newspapers.
at an extraordinary meeting. Councillor James Swindlehurst (Lab: Cippenham Green), leader, was faced with tough questions from the opposing Conservatives and Independents following the highly critical papers of the local authority’s financial governance. In the external auditor’s reports, Grant Thornton UK LLP found:
insufficient capacity and skills within the finance department
inadequate preparation of financial statements
inadequate general and earmarked revenue reserves
inadequate governance, monitoring and controls over the council’s outside groups and companies At an extraordinary audit and corporate governance committee on Tuesday, May 18, the leader of the Conservatives, councillor Wayne Strutton (Haymill and Lynch Hill), heavily criticised the leader and asked him when he was made aware of the issues highlighted in the reports.
Cllr Madhuri Bedi at the Foxborough litter pick
“I JOINED the Labour party because I believed it stood ‘for the many, not the few’. Sadly, I do not see that being played out in current leadership.” That’s what councillor Madhuri Bedi (Foxborough) said at a full Slough Borough Council meeting on the budget – as she resigned as a Labour member to become an independent councillor. At the meeting on Monday, March 8, she also scolded her former colleagues for choosing to increase council tax to the maximum this year. She said the 4.99 per cent spike will “prove too much for too many” and this rise “could’ve been avoided” if the council’s reserves were more “robust” and if the finances were managed better.