Capitalism Facing ‘Debt Annihilation’ While Its Supporters Panic And Prepare A New World War!

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OPTIMISM is in very short supply in the UK ruling class when it examines the state of British capitalism.

The Business Comment in The Sunday Telegraph yesterday is very much to the point. Its banner headline states: ‘Debt annihilation is approaching and no party is minded to stop it.’

It adds that ‘neither the government nor Labour look equal to the task of getting borrowing on to a sustainable path’.

The Telegraph is even more graphic about the state of Britain’s armed forces and what must be done about it. Its News Focus broadcasts: ‘Wasteful Britain needs to buy a new arsenal for war with Russia.’ Lewis Page writes: ‘The world is changing fast and not for the better. Russia is transitioning back into a Soviet-style war economy, and its military power will increase enormously.

‘At the moment, we are kept safe at very little cost to ourselves, by the heroic sacrifices of the Ukrainians. That can’t go on forever.

‘One way or another the fighting in the Ukraine will stop, quite possibly due to a ceasefire imposed on the Ukrainians by the next US President. The Russian armed forces will then be able to reorganise, rearm, conscript and build. The ceasefire will end at a place and time of Vladimir Putin’s choosing.’

Thus speaks the completely demoralised and bankrupted British capitalist system, as it faces the end of its world, with bankrupt capitalism going down the drain.

The Sunday Telegraph also makes it crystal clear that the enemy is the working class of the UK and the world.

Warner writes: ‘As things stand, the British state is on a clear and unavoidable path to debt-addled oblivion. Virtually all the pressures on public spending, from defence to social care are on a strongly rising path.’

‘Yet the politicians seem powerless, prompting the Institute for Fiscal Studies to comment: “It will be more difficult to reduce the debt to GDP ratio over the next Parliament than in any other Parliament since the 1950s.’”

The situation is crystal clear. The UK ruling capitalist class has lost its right to rule, and its dictatorship over the working class is about to crash into oblivion, whether it be in a trade war or a world war, where only the very fittest will stand a chance of survival.

While the ruling class wrestles with the historic crisis of its system, the working class is left to its fate by a trade union and Labour leadership that believes that capitalism is the only possible system, despite the massive changes that have been brought about by the Russian and Chinese revolutions.

Britain is now the weakest link in the capitalist chain, and the UK working class must bring it down with a socialist revolution that will bring in a planned socialist economy in the UK and prepare the way for the EU and the USA to go socialist with the European and American socialist revolutions.

At the moment, the UK working class is being completely misled by the trade union bureaucracy that considers that capitalism is the only possible social system.

This is not the case. The UK working class will refuse to pay the bill for the capitalist crisis and will rise up to make the British socialist revolution under the leadership of the Workers Revolutionary Party and the Young Socialists.

What is required worldwide is the completion of the worldwide socialist revolution that began in Russia under the leadership of Lenin and Trotsky in 1917.

What is required, is the building up of the WRP and the Young Socialists, and also sections of the International Committee of the Fourth International worldwide.

These will provide the leadership to complete the World Socialist Revolution that was begun in October 1917 by the Russian Revolution and establish a worldwide planned socialist economy whose motto will be ‘from each according to their ability, to each according to their need!’