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By Michael Roberts
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Wednesday, 23 January 2008 |
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World stock markets are now down over 20% from their highs
set just last November. That technically is called a ‘bear market'. Stock
markets have had their worst start in a year for 30 years and in the case of
the US
and the UK,
the worst start ever since records began! Australia's main share indexes plunged more than 7% — the worst one-day fall since 1989.
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By Fred Weston
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Friday, 04 January 2008 |
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For
eleven years John Howard, the leader of the conservative Liberal Party, had
dominated his country's politics. But he was thrown out in last week's
election. It was a humiliating end to the career of this right-wing reactionary
and stooge of George Bush who led Australia
into a war against Iraq
and resisted efforts to curb global warming.
Yet many on the left of Australian politics fail to draw the conclusions from Howard's defeat and proclaim themselves and their phantom parties to be the alternative to Labor. Here we reprint an article from marxist.com where we analyse the outcome of the election.
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By Simon WIlliams
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Thursday, 14 June 2007 |
 The forthcoming federal election is shaping up to be an almighty contest between the classes. Already the initial skirmishes have begun. Workplace relations minister, Joe Hockey, has revealed the "shocking" fact that the ACTU wants a Labor victory and has engaged in the dirty and underhand practice of talking to union members on the telephone in order to persuade them to vote Labor.
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By Simon Williams
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Thursday, 14 June 2007 |
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Only the hardest heart will not have been moved to laughter by the sight of Paris Hilton, multimillionaire and professional nobody being dragged back to prison in tears. This followed an unseemly scuffle where the local sheriff, Lee Baca, who was coincidentally a recipient of a large election donation from Hilton's billionaire grandfather, had released her in express defiance of the judge's ruling.
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By Simon WIlliams
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Sunday, 10 June 2007 |
 The property company Australian Capital Reserve has recently announced that it is going into voluntary administration leaving thousands of its small investors at risk of impoverishment. The TV screens have been full of sobbing pensioners who were convinced to sink their life savings into their various speculative schemes and now face the prospect of losing everything. The administrators have already made it clear that the small investors will be the last to receive any compensation, as the priority is the reimbursement of large corporate investors.
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