Austerity: The madness of a dying system

The ruling class has no alternative to austerity and the drive to create a pristine capitalism. Not only is that impossible, but, as shown by South Africa, the working class is beginning to revolt. This is an edited version a speech by Hillel Ticktin, editor of Critique, on November 17

If one looks at the current situation, one would have to conclude not that we are coming out of a crisis, but that the ruling class is becoming more and more afraid. Mervyn King, the governor of the Bank of England, says that the real position is getting worse. Why is he saying that? One could say, of course, that he is coming to the end of his term, and that he has to say how bad everything is. But it is clearly more than that. There really is a degree of pessimism now within the ruling class itself, which he is expressing.

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