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Each week we take an article relating to a current event and discuss it in a Marxist context. The articles are sourced from a variety of publications, the only real restriction is that the authors generally will not be socialists. These study groups are held at 7:30pm each Tuesday. For more information, have a chat to an ISO member at one of our Branch meetings or on our stall.
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Thursday, 30 April 2009 11:15 |
For Tuesday 5th May Talking Points:- In paragraph 6, the author notes that "tighter credit and sinking asset prices have exposed consumers’ excessive borrowing and scared them into saving more." What do Marxists say about privitisation of debt and the necessity workers spending more than the capitalist class is willing to pay in wages for the capitalist economy?
- Also in Paragraph 6, the author mentions "balance-sheet recessions". What are these and why are they special?
- What will the effects be on the working class of central banks "[pumping] out trillions of dollars of liquidity and, in rising numbers, [resorting] to an increasingly exotic arsenal of “unconventional” firepower to ease credit markets and loosen monetary conditions"?
- Under the heading "Not much to Glow about": "Thanks to massive—and unsustainable—fiscal and monetary transfusions, output will eventually stabilise." What are the long term implications of this statement?
- The section "Start Preparing for the next decade" paints a grim picture for the "recovery". How will this effect workers, and what can we do about it?
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