Join the Socialist Party Join us today!

Printable version Printable version

Facebook   Twitter

Link to this page: http://www.socialistparty.org.uk/issue/554/6555

From The Socialist newspaper, 29 October 2008

Recession is getting deeper - the 'real world' is suffering

THE FINANCIAL crisis is getting worse. Across the planet, the stock market casinos have been plummeting. Japan's Nikkei index at one stage hit a 26-year low.

There have been IMF bailouts for Lithuania and Hungary to try to avert banking crises throughout the ex-Stalinist Eastern Europe. But it is no longer just the finance markets that are being hit; the 'real world' is now suffering as well.

In Britain, even Gordon Brown now admits that the British economy is in a recession. House building is clearly in recession. Other industries are also preparing for belt-tightening.

An Observer survey (26 October) suggests that almost four out of every five British businesses are cutting back on hiring new staff, and cutting employees' pay and bonuses.

Rich business people and their system caused this crisis. But they want working people to pay for it through lost jobs and cut pay. Government spending will also be attacked, as universities minister John Denham hinted with his announcement that university places could be cut to pay for bailing out the banks. Other public services could find themselves under attack as well.

Determined struggles are vitally needed to defend workers' jobs and living standards and conditions and our much-needed public services.

The Socialist Party will continue to participate in such struggles and will keep fighting for a socialist solution to the problems caused by capitalism in crisis.

Why not click here to join the Socialist Party, or click here to donate to the Socialist Party.


In The Socialist 29 October 2008:


Credit crunch

Worlds apart... in 'them and us' society

Are we heading for a new Great Depression?

Recession getting deeper - 'real world' suffering


Socialism 2008

Time to change the world - come and hear the case for socialism

Socialism 2008 pdf


Socialist Party campaigns

Postal workers march for their jobs

Save our neonatal services!

BP - swimming in oil profits


Socialist Party workplace news

National civil service strike 10 November

JCB - Why should we accept redundancies and pay cuts?

Unite calls off London bus strike


International socialist news and analysis

Israel/Palestine Moving towards a new conflict?

Ireland: Pensioners' revolt - government forced back

Italy: Mass movement to stop education cuts


Car industry

Car industry in crisis: A fighting strategy

Saving jobs at Ford


Socialist Students

Defeat NUS' undemocratic plans

Newcastle University chancellor is out of touch

Fighting cuts at Northampton Uni


 

Home   |   The Socialist 29 October 2008   |   Join the Socialist Party

Subscribe   |   Donate  




Related links:

Recession:

triangleSocialist Students launched in USA

triangleThe EU and the economy - Project Fear steps up

Pay:

triangleLocal government pay: fight for the 5% claim, fully funded

triangleDemonstrations by uni students and staff greet Bath vice-chancellor resignation

triangleArriva bus strikers stand firm

trianglePCS Left Unity celebrates 40th anniversary at annual conference

Socialist:

triangleTamil Solidarity AGM & public meeting

triangleBirmingham South East Socialist Party: Can the Labour Party be changed?

triangleSocialist Students national conference

Banks:

triangleRBS to sack 1,000: nationalise the banks

triangleAmber warning lights flash on British economy

Reports and campaigns

Reports and campaigns

7/12/17

RMT

Anti-DOO lobby of Liverpool's transport committee

7/12/17

Blacklisting

Unite protest against blacklisting

6/12/17

Donald Trump

Mobilise to stop bigoted billionaire Donald Trump's state visit to Britain

6/12/17

Transport

Arriva bus strikers stand firm

6/12/17

Pensions

BT pensions review - oppose the attacks on the pension schemes

6/12/17

PCS

Driving examiners walkout hits first day of new test

6/12/17

Newham

School staff strike against privatisation

6/12/17

Rail

Brutal rail privateer Abellio takes over Midlands rail services

6/12/17

PCS

PCS Left Unity celebrates 40th anniversary at annual conference

6/12/17

North Yorkshire

Court maintains injunction against fracking protesters

6/12/17

Waltham Forest

Waltham Forest Universal Credit protest

6/12/17

Coventry

Coventry Socialist sales hit 1,000

6/12/17

TUSC

TUSC conference to debate 2018 elections

6/12/17

Liverpool

Liverpool John Moores Uni landslide for Socialist Students

6/12/17

Kirklees

Plans to launch no-cuts campaign at Kirklees College

triangleMore Reports and campaigns articles...


Join the Socialist Party
Subscribe to Socialist Party publications
Donate to the Socialist Party

triangle8 Dec Local government pay: fight for the full 5% claim

triangle6 Dec Strikers rally in Liverpool

triangle6 Dec Corbyn's Labour can defeat Tories with socialist programme

triangle5 Dec Victory at Glenfield shows people power can save our NHS

triangle5 Dec Labour council Blairites deselected

triangle30 Nov Victory: Glenfield Children's Heart Centre saved!

triangle30 Nov Dramatic retelling of Grunwick strike

More ...

triangle12 Dec Birmingham South East Socialist Party: Can the Labour Party be changed?

triangle12 Dec Liverpool Socialist Party: Fighting council cuts

triangle13 Dec Caerphilly Socialist Party: Are we heading for an era of war?

triangle14 Dec Wakefield Socialist Party: Universal Credit - the Tories' latest assault on the poor

More ...

Socialist Party Facebook page
Socialist Party on Twitter
Visit us on Youtube

Archive

Archives:

December 2017

November 2017

October 2017

September 2017

August 2017

July 2017

June 2017

May 2017

April 2017

March 2017

February 2017

January 2017

2016

2015

2014

2013

2012

2011

2010

2009

2008

2007

2006

2005

2004

2003

2002

2001

2000

1999

Legal

SP RSS feed RSS

Platform setting: = No platform choice

V2