Europe and U.S. have same problem: capitalism

[Ichingcarpenter]

The struggle against austerity is sweeping the U.S. and Europe. Not for decades have we seen such a surge of struggle in this part of the world. Moreover, the protest actions are massive and likely to increase in intensity and scope as time passes.

Prompting the surge is the economic crisis in general and the debt crisis in particular. Ruling circles on both sides of the Atlantic are attempting to offload government and private indebtedness onto the working class and its allies.

The most striking example is Greece, where the social democratic government in cahoots with the International Monetary Fund and the European Union has not once but twice squeezed huge concessions from the Greek people, despite massive nationwide protests. Elsewhere in the Atlantic world the assault isn't quite as draconian, but it is punishing nonetheless.

The refrain out of the mouths of the ruling elites irrespective of country is: the country is broke and there is no option but to cut wages of public sector workers, abrogate collective bargaining rights, and shed social programs that were won in earlier periods.

Don't buy this bill of goods!

This crisis is not a crisis of state finances. There is plenty of money if you look in the right places - the banks accounts of the investor class and, in the U.S. in particular, the budget of the Pentagon.
This is a crisis of capitalism. With each passing day it reveals its inability to meet the elementary living requirements of the working class in this era.

MUCH MORE:
http://www.peoplesworld.org/europe-and-u-s-have-same-problem-capitalism/

[DonCoquixote]

1. here is a flaw

"A core element of this struggle is the fight against racism and immigrant-bashing. Both are obstacles to working-class and people's unity. Both have the potency to ideologically and practically derail the building of a powerful multiracial labor-led people's movement. White and native-born people in general, and white and native-born workers in particular, must step to the forefront of the anti-racist and immigrant rights struggles, and in doing so create the conditions to roll back the austerity drive."

But if you read here, many people say the reason why organized labor is ruined is because of immigrants.

[RKP5637]

2. Runaway capitalism and greed will devour societies. It's the end

result of capitalism.

Capitalism practiced correctly could work IMO, but it self-corrupts like most of the -isms. Capitalism by default means climb over your neighbor, cheat, claw, hoard and be greedy. Screw other people to get ahead. It's a vicious system. ... but those on the take certainly aren't going to change anything 'till their pocketbooks get hit.

And often those at the bottom think, if I can just hold out I'll be the next millionaire, I just have to work harder. Some will, many will not. It's not a system for the masses in the 21st century.

[Demeter]

3. Call It What It Is: Piracy By Banksters

[Sarah Ibarruri]

4. Excellent article. nt

[theaocp]

5. Capitalism without regulation is like

football without referees. You can imagine what might happen.