Capitalism is not working!
SP Newsletter No.238
The bubble has burst for capitalism. All over the world stock markets are in shock and commodity prices are falling. Despite interest rates being lowered, banks are reluctant to loan money and this will seize up the real economy.
A recession has begun in the US and Europe. It is inevitable that a recession will also follow in Australia.
For years workers were told that socialism was dead and that capitalism was the only reality. Now the confidence of the sharks in the financial sector and their media friends has been shattered.
In panic the Federal government have handed over $10 billion in the hope we will spend it all and boost the economy. In reality much of this money will go to pay our debts and basic bills.
To ‘boost’ the economy we need to take it out of private hands. Even with low interest rates, banks will not lend to business as they are fearful of not getting their money back in this new economic period.
A nationalised banking system can financially support an economy where the main levers are in public hands. Elected committees at workplace level, linked to local, State and Federal socialist governments can jointly work out an economic plan.
The Socialist Party condemns the greed and the logic of a system that built up trillions of dollars in paper - now worthless wealth - while billions lived on less than $1 a day. Now millions more will be pushed into poverty.
Our alternative is simple. Capitalism should be replaced by a socialist, democratically-planned economy. The banks and major companies should be controlled by the workers and co-ordinated by an elected socialist government.
The wealth of society, when owned by the people and under the control of the people, can be directed away from speculation and into socially-necessary spending to massively boost public transport, education and health.
International co-operation between socialist states could begin to drag up the living standards of all. It’s easy today to be an anti-capitalist – the challenge is to organise to build a socialist alternative.
Public Meeting in Melbourne – US Elections
The victory of Barack Obama in the US has captured the imagination of the world. Come along to this SP public meeting to hear a socialist analysis of the results.
11am Saturday 8 November at the Fitzroy Library, Moor Street Fitzroy. For more info call 96399111.
SP election campaign in Yarra
All Victorian Councils will go to the polls on November 29. SP will be running a strong campaign in the City of Yarra. We will be defending Stephen Jolly’s seat in the Langridge ward and we will also be standing Denise Dudley in the Melba ward and Anthony Main in the Nicholls ward.
We need help door knocking, letter boxing, staffing the pre polling booths and on election day. We also need to raise money to pay for the campaign. If you can help our campaign in any way, contact our National Office on 0396399111. For more information about our work in Yarra visit. http://www.socialistpartyaustralia.org/council
Also check out our Youtube videos related to the campaign visit.
http://au.youtube.com/watch?v=hPbvuxxWrd8
http://au.youtube.com/watch?v=DAi4f5xlXGY
News links
Financial crisis cripples Baltic States
http://www.socialistworld.net/eng/2008/11/06baltia.html
Congress of the Communist Party of Québec (PCQ)
http://www.socialistworld.net/eng/2008/11/03quebea.html
Municipal elections in Chile
http://www.socialistworld.net/eng/2008/10/31chilea.html
Join the Socialist Party
If you agree with what you have read in our newsletter or on our website you should consider joining SP. The Socialist Party has branches in Melbourne, Sydney, Newcastle and Perth as well as members and supporters in all other states.
We are involved in trade union work and student work. We also run community, anti-war and environmental campaigns. But most of all we want to build a party that will fight to get rid of the capitalist system, the system that is at the root of all of these problems. We fight for socialism - a system that will bring an end to wars, poverty and environmental destruction. To join SP contact our National Office on 03 9639 9111 and we will send you a membership application form.
Subscribe to ‘The Socialist’ newspaper!
Support the Socialist Party by subscribing to our monthly newspaper ‘The Socialist’. Subscription rates are only $10 per year or $20 solidarity price. You will receive 11 copies per year delivered to your door every month. You will also receive our email newsletter every week and you will know that you are supporting an organisation that is at the fore of fighting against the capitalist system. To subscribe to ‘The Socialist’ contact our National Office on 03 9639 9111 and we will send you a subscription form.
Socialist Party contact details
Melbourne: Phone Anthony on 0396399111.
Sydney: Phone Gary on 0297287727.
Newcastle: Phone Samantha on 0249681545.
Perth: Phone John on 0894020728.
Rest of Australia: Phone our National Office on 0396399111.
Rest of the world: Phone our International Office on ++ 44 20 8988 8760.
The Socialist Party is the Australian section of the Committee for a Workers’ International (CWI). The CWI is organised in over 40 countries across the world.
http://www.sp.org.au
http://www.socialistworld.net
http://www.myspace.com/socialistpartyaustralia
http://www.facebook.com/group.php?gid=20461960776
