CRISIS-HIT CAPITALISM is heading for a massive disaster, writes Ambrose Evans Pritchard in the Daily Telegraph.
He writes that: ‘Four powerful shocks are hitting the world economy at the same time.
‘They are escalating and feeding on each other, driving a commodity spiral that can end only in an inflationary blow-off.’
He adds that: ‘The futures markets are no longer pricing in a quick return to normal, as they were in those first insouciant weeks of the Iran war, when traders still believed in the all conquering might of the US Navy.’
He continues: ‘It was always likely that Iran’s revolutionary guards would match every stage of Trump’s escalation with counter escalation, gambling that it could endure the pain longer than he could sustain an unpopular war, one that is fast eviscerating US global credibility.
‘If Iran cannot export oil nobody in the region can export oil.’
He concludes that: ‘The US lacks the military means and policy coherence to stop the regime carrying out this threat, it lacks the interceptors needed to defend its own ships and bases and the Gulf economies – at least not without depleting its munitions to levels that endanger US Security in the Pacific.’
There is no doubt that now is the time for the workers of the UK, the EU and the USA to show their support for the struggle of the Iranian revolution by giving their full support to the workers and youth of Iran.
In fact, the workers of Iran, and Palestine and the workers of the European Union and the UK are all in the same trench, and they must now act together.
Now is the time for the worldwide Labour movement to call general strikes in support of the workers of Palestine and Iran to smash the imperialist powers and to go forward with the world socialist revolution and the establishment of a World Socialist Republic.
In fact the TUC Congress must be recalled so that delegates can put down an emergency resolution, calling a general strike to support the struggles of the Palestinian and Iranian people.
All the imperialists can do today is bomb and kill hundreds and thousands of innocent civilians in the struggle to grab the resources of other countries in order to try and survive.
British, US and EU capitalism are on their knees. They are broken and bankrupt.
Workers know that capitalism has had its day and can only offer a world crisis and starvation to the working class of the world.
It is now old, out of date and ready to be dumped into the dustbin of history by the working class of the world.
Capitalism will not leave the scene of history willingly. It must be defeated and smashed by the organised strength of the working class that is rising up today.
In nearly every country millions of workers are taking to the streets, battling to survive against huge rises in the cost of living, low wages, mass unemployment and soaring rents and taxes.
Now is the time to build sections of the International Committee of the Fourth International in every country to organise and lead the victory of the world socialist revolution.
The only class that can bring down capitalism is the working class.
It has the power to bring economies to a halt, it has the power to challenge the ruling class and bring it to its knees.
It needs a revolutionary leadership to take it forward today against the hardships of capitalism and is prepared to bring this rotten and bankrupt system down.
Workers of the world – go forward – let’s put an end to capitalism, to poverty, to hardship, to death and destruction and advance to the World Socialist Republic.
This is the only future for youth and humanity. There is not a moment to lose!
