Capitalist finance system nears meltdown
Over recent years, the Socialist Party and the CWI have often been accused of being ‘catastrophists’. This is because we predicted that the debt-driven bubble economy, dominated by high-profit, high-risk finance capitalism, would at a certain point collapse, resulting in a serious downturn in the world economy.
Editorial from the October 2008 issue of Socialism Today (more…)

The crisis facing world capitalism
SP will be holding our 2008 National Conference in Melbourne on Friday October 10 & Saturday October 11. On the opening night of the Conference we will host a public meeting featuring Kevin McLoughlin, the General Secretary of the Socialist Party in Ireland. The meeting will discuss the international situation and the crisis facing world capitalism. (more…)

Whether it was the songs of Pete Seeger in the 1930s, Bob Dylan in the 1960s or Public Enemy in the 1980s, the mix of politics and music has always struck a chord amongst a layer of young people. In the 1990s, that honour undoubtedly belonged to Rage Against The Machine (RATM).
By Stephen Rigney, Socialist Party (more…)

SP Newsletter No.232
“If Wall Street gets away with this, it will represent an historic swindle of the American public - all sugar for the villains, lasting pain and damage for the victims.” This is how William Greider described the Wall Street bailout. (more…)

Reviewed by Lindsay Wheatcroft, Socialist Party
Hot on the heels of Iron Man, the latest big cinematic release sees another super-rich capitalist buying some high-tech war gear and waging war on crime. (more…)

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This year has already been a busy one for SP. The election of the Rudd government has not solved any of the problems that were present under Howard. Attacks on the rights of workers, students, women, Aborigines and welfare recipients are all still happening. (more…)

The ultra free market model of the Bush administration and governments around the world has revealed itself not just to be a disaster for the poor, which was always evident, but also a deadly threat to their own profit-crazy system.
By Vincent Kolo, CWI (more…)

Evo Morales’ MAS (Movement towards Socialism) government won a crushing victory in the re-call referendum, which took place on 10 August 2008. He gained a landslide in the poll, winning 67.41% of the national vote, on a turnout of 83.33%. The recall referendum was not a “stand-off”, as claimed by the right-wing.
By Tony Saunois and Roberto Antezana, CWI (more…)

The brutal occupations and conflicts in Iraq, Afghanistan and the Palestinian territories continue, causing great suffering to millions of people. Imperialist military might is also threatened against Iran, for daring to pursue its own goals in the region and domestically. In this article some questions are posed on these offensives and threats, which are responded to by Peter Taaffe from the Socialist Party. (more…)

“It is a moment Karl Marx would have relished. From every angle financial capitalism is taking a battering” (The Guardian). The economic witch-doctors and soothsayers of capitalism were wrong and the socialists and Marxists were right. This is what the collapse of Lehman Brothers – the fourth largest investment bank in the world – means.
By Socialist Party reporters (more…)